By: Nyima Sillah
As the coronavirus pandemic continued worldwide, some visiting banks management have expressed the impact of Covid-19 on their businesses and banking sector since the country registered its first case of virus in March 2020.
In an interview with Ebrima Baldeh, Cooperate Department – ECO Bank said the impact of COVID-19 on their businesses is very great. He noted that it has led to a very slow business transaction compared to before. And since the virus has an impact on other businesses he said limited people are coming for transaction and it has caused low movement of currency, too.
“our exchange of services recently is very poor compared to before because when someone is sending money from abroad it takes a day or two but now it takes three or four days and that delays a lot,” he added.
But affirmed that in terms of interest and paying staff there is no challenges.
“After the pandemic we will be giving loan to the businesses that have suffered during the pandemic but did not shutdown,” he said.
According to Sheikh Trawally Public Relation Officer – Trust Bank, Covid-19 has virtually crippled the economic around the world and The Gambia is no exception.
He disclosed that as their bank like other banks are concerned they have framework with state of preparedness plan to introduce or mitigate effects on their operation and bottom lines.
Taken into consideration the valuable lives of their customers, the bank placed outside tents to make sure that customers go through social distancing and guidelines for personal safety as recommended by WHO to make sure customers are safe in their premises.
Trawally noted that the declared businesses activities is affecting their deposit mobilization and their activities, while noting that if the requirement for State of Public Emergency persists for a longer time it will affect lending activities and deposit mobilizations.
“We have a framework with our customers especially the ones in the diaspora and we also have a framework called face to face transaction to help customers,” he noted.
Now, he said they are also trying to mitigate those effects as the strategic plan to meet the long-time goal is in offing.
“We are a big bank and thank God we are not facing any challenges in paying our staff. After the covid-19 our aid to customers will be rolled out,” he added.
He reiterated to their customers that Trust Bank is on a very sound footing as they are not impacted heavily by the corona pandemic.