LBA hails strength of Liberian banking market
The Liberian Bankers Association has said the country's commercial banks are currently in a fairly good position.The Liberian Bankers Association has said the country's commercial banks are currently in a fairly good position.
According to Sylva Ashimole, president of the organisation, banks in Liberia are currently just as "robust" as those in other nations such as Ghana, Ivory Coast and Sierra Leone, the News reports.
"The only difference is the infrastructure, because banking requires a lot of money in terms of technology deployment," he observed.
Mr Ashimole acknowledged that overcoming the destruction of some of Liberia's financial infrastructure in recent conflicts is also proving to be a challenge at the moment.
Nevertheless, he insisted that the nation's commercial banks are committed to improving the quality of service they offer to their customers.
The LBA was commended for being one of the most prominent backers of developing the financial industry in Liberia.
Mr Ashimole made the comments during a press conference in Monrovia held to mark Bankers' Week.