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Bank CEO reads riot act to protesting workers

by Staff reporter
19 Aug 2019 at 07:55hrs | Views
Standard Chartered Bank chief executive Ralph Watungwa has read the riot act to workers that have been camped at the financial institutions premises protesting against poor remuneration. The employees are reportedly pushing for salary increments in line with the cost of living.

They have been spending nights at the banking hall to push their demands.

Watungwa is now worried about the protest and has written a communiqué to line managers to dissuade their subordinates from the practice.

Meanwhile, Nedbank Zimbabwe Limited posted a profit after tax of $14,3 million for the six months to June 30, 2019 amid economic difficulties being experienced in the country.

The financial institution's operating income grew to $47,564 million from $21,178 million realised in the comparable period in 2018 as total deposits stood at $915,731 million in the period under review.

Profit before tax was reported at $18,425 million as gross loans and advances grew to $278,1 million.

Source - The Standard