Chairman: ‘TBL most profitable bank in Gambia’


Delivering the financial report of the bank at Kairaba Hotel yesterday, Mr Ofori-Atta read out a series of the bank’s credentials as testimony to his claim: “We are a major employer in the banking industry with 337 employees. In 2013, salaries, pension contributions and other staff costs totaled over D127 million. Over D65 million was paid to government in corporate taxes alone. We hold the most deposits which account for 27 per cent of the total deposits mobilised by the industry; we are the biggest lenders with our bank loan book accounting for 18 per cent of total credit extended by the industry,” he said.

The bank in 2013, grew net interest income by 22 per cent from D214 million in 2012 to D260 million in 2013, and profit before tax by 50 per cent from D125 million in 2012 to D187 million in 2013. “Our balance sheet has also become more robust; total assets grew by 10 per cent from D4.2 billion to D4.6 billion, while customer deposits grew by 9 percent from D3.7 billion to D4.1 billion,” he revealed.

“I also proudly announce that our non-performing loan ratio is now down to 1 per cent. The ratio was at all-time high at 18 per cent in 2007 and we have been on a quest to work it down over the last few years,” he pointed out, arguing that continuing to grow a successful business is the best way for our bank to create value for all its stakeholders and contribute to the wider economy.


“In an increasingly competitive market where customers are able to exercise choice among many providers, we believe that shareholder value creation should be closely linked to customer value creation. It is only by meeting our customers’ needs that we will win the right to a bigger share of their business. This is why in the last few years, we have introduced various measures to address significant external challenges of competition (12 banks) and regulation, and these have certainly improved the outlook of our bank as evidenced by the results we are presenting here today.”  

One of the highlights of the afternoon was the honouring of the bank’s managing director Pa Macoumba Njie with a leadership, excellence and innovation, dedication and care award from the apparently impressed shareholders of the bank.


By Sanna Camara