Gambia: Banking sector "stable and safe", says Central Bank Governor

Nov 14, 2014

The Governor of the Central Bank of the Gambia has said the country's banking sector continues to be stable and safe, with banks having sufficient capital and liquidity to meet their commitments.

The Governor of the Central Bank of the Gambia has said the country's banking sector continues to be stable and safe, with banks having sufficient capital and liquidity to meet their commitments.


While Amadou Colley revealed the industry's capital adequacy ratio dropped by two percentage points from December 2013, he said during a speech at the National Assembly on Monday (November 10th) that all banks met the statutory minimum capital adequacy ratio of ten percent during the period under review.

The asset base of commercial banks increased by 12.9 per cent to D20.74 billion (€384 million) in 2013, funded by increases in deposits.


Gross loans and advances accounted for 25.36 per cent of the industry's total assets. Besides, deposits rose by 15.19 per cent to D15.2 billion as at end-December 2013.


This was mainly due to the increase in both demand and savings deposits, the Governor said. However, time deposit dropped in the year under review from the prior year.

The Gambian banking industry consists of twelve banks including one Islamic bank.ADNFCR-2976-ID-801760170-ADNFCR