Mr Amadou Colley, the governor of the apex bank, stated this in a recent statement made available to an assembly of journalists in Banjul.

He explained: “The banking industry ended 2014 with strong fundamentals. The industry risked-weighted capital adequacy ratio averaged 30.0 percent in 2014, over and above the minimum requirement of 10.0 percent. All the banks met the minimum requirement.”

Colley said that the results released so far for the past year indicate that the foisting economic headwinds had not significantly affected their profitability.


He added: “The banking sector recorded a net profit of 680.0 million dalasi in 2014. The return on assets and return on equity rose to 11 percent and 71 percent compared to 2 percent and 14 percent in 2013 respectively.

“Deposited liabilities rose to 16.8 billion, higher than the 15.2 billion in 2013. The liquidity ratio stood at 85.0 percent, over and above the statutory minimum requirement of 30.0 percent.

“Total assets of the industry increased to 24.5 billion dalasi or 16.4 percent from 2013. Loans and advances accounting for 22.1 percent of total assets decreased to 5.4 billion dalasi or 10.4 percent owing primarily to the 9 percent decline in private sector credit. The ratio of non-performing loans to gross loans declined substantially from 20.0 percent to 7.0 percent in 2014.”