Stanbic Bank Botswana Limited (Botswana)

Stanbic Bank Botswana is a member of Standard Bank Group. Our roots date back to 1992 when Standard Bank acquired the African operation of ANZ Grindlays. We are the fourth largest commercial bank in Botswana and offer the full spectrum of financial services. Our Corporate and Investment Banking unit services a wide range of requirements for banking, finance, trading, investment, risk management and advisory services. This business unit offers a wide range of products and services covering investment banking; global markets; global transactional products and services as well as private equity.
Our Personal and Business Banking products include mortgage lending, instalment sale and finance leases, card products, transaction and lending products, and bancassurance.
With effect from 1 January 2018, IFRS 9 replaced IAS 39. IFRS 9 introduced new requirements which included an ECL impairment model and new requirements for the classification and measurement of financial assets as follows:
- IFRS 9 s ECL impairment model s requirements represented the most material IFRS 9 transition impact for the group. OCI, loan commitments when there is a present commitment to extend credit (unless these are measured at fair value through profit or loss (FVTPL)) and guarantees.
- Financial assets measured at amortised costs, at fair value through OCI and loan commitments where there is a present commitment to extend credit (unless these are measured at FVTPL) and guarantees are all within the scope of the ECL impairment requirements.
- ECL is, at a minimum, required to be measured through a loss allowance at an amount equal to the 12-month ECL. However, where the lifetime is less than 12 months, lifetime ECL will be measured for the financial asset. A loss allowance for full lifetime ECL is required for a financial asset ifthe credit risk of that financial instrument has increased significantly since initial recognition.