By Yunus S Saliu
The Trust Bank (Gambia) Limited, established in 1997, over the weekend celebrated its Silver Jubilee, tagged 25 Years of Excellence, launched its new corporate logo, and as well awarded some of its customers.
The celebration was marked with different activities including a match pass from the Arch 22nd and round the capital city of Banjul to the bank headquarters, a gala dinner, and different musical performances from Gambia Police Band, popular Gambian musicians – Barhama, Bright Stars Entertainment among others, the event was held at Kairaba Beach Hotel.
In her welcoming remarks, the TBL Managing Director, Njilan Senghore, described the event as a significant milestone to be celebrated as the history of The Gambia is not littered with examples of private institutions with that length of existence.
“Not only is the bank still surviving, but it has also grown to be one of the leading banks and institutions in this country and is either a market leader or amongst the top performers across key performance metrics that include asset base, balance sheet size, and profitability,” MD Senghore said.
However, she dilated on their different achievements and activities undertaken and presently embarked on, and “since we commenced operations in October 1997, Trust Bank has experienced tremendous growth. We’ve become a trusted partner in corporate and retail banking and in providing technology-enabled banking solutions and services to customers.”
She disclosed that the rebranding of the bank aims to communicate this new excitement and statement of intent of what is to come because “Trust Bank is a market leader.”
She noted that the bank is currently going through a period of significant change that will see the bank make significant strides in improving its digital offer, driving financial inclusion, and deepening its governance systems to reclaim lost ground in international banking services.
She, however, sent the bank’s profound gratitude to all its customers, founders, board members, and general supporters of the bank from its inception to date.
The Minister of Finance and Economic Affairs (MoFEA), Honourable Seedy Keita dilated on the growth of the bank over the past 25 years. This he said has been excellent from the Global Finance Award of Best Emerging Bank for six consecutive years in Customer Service from 2003 to 2008 and also as the GCCI Banker of the Year Award for 5 years.
The Minister disclosed that the TBL has touched the lives and livelihoods of a cross-section of the society including from salary staff to the business community and, the less privileged through its Corporate Social Responsibility activities.
He, therefore, as expected, urged other financial institutions not to only make money but to be cognizant of their corporate social responsibility, deploy and reinvest in the community where the profits are earned.
Appreciating the bank and staff, he said Trust Bank “is a bank proudly led by a lady and it is kudos to the government to see our female folks thriving and leading financial institutions.”
Speaking on behalf of Governor Buah Saidy of the Central Bank of The Gambia, Mr Paul Mendy, Deputy Governor of the Central Bank of The Gambia congratulated the Board, Management, and Staff of the TBL for achieving this very important milestone.
“As one of the leading banks in the country, the institution must consider this milestone as a challenge for even greater achievements in years to come,” he stated.
Since the establishment of the bank in 1997, he said the TBL has been steadfast in its growth aspirations, expanding its presence to different parts of the country, “Most importantly, the growth of any banking institution results to increased contribution to the Gross Domestic Product of the country and creates job opportunity for your Gambians.”
He continued that over the past few decades, the financial industry of this country witnessed tremendous transformation with the number of banks increasing from 5 in 1997, to the peak of 14 in 2010, before coming down to the current number of 12 banks “the growth also manifested through increased number of bank branches, currently at 87 throughout the country.”
Despite the adverse shocks and the ensuing macroeconomic challenges the banking industry continues to be stable, he said while adding that with robust financial soundness indicators, the “risk-weighted capital adequacy ratio stood at 27.8 percent at end-June 2022. And all the banks were well above the regulatory requirement of 10 percent.”
He explained further that the liquidity ratio of 73.2 percent was also above the prudential requirement of 30 percent, “asset quality has improved with a decline in the industry’s total non-performing to 4,2 percent of gross loans as at end-June 2022, and banks have continued to maintain adequate levels of provisioning.”