Page 13 - 2021 ANNUAL REPORT draft

Banque de Commerce et de Placement (BCP) - GENEVA

Solicitors Christopher E. Mene
Ousu's chambers
5 Macumba Jallow Street
Banjul, The Gambia

Registered office 56 Kairaba Avenue
P.O Box 1958, Banjul
The Gambia

Directors’ Report

The Directors present their report and the audited IFRS financial statements of Guaranty Trust Bank (Gambia) Limited
for the year ended 31 December 2021.
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Statement of Directors’ responsibility

The Companies Act 2013 requires the Directors to prepare the financial statements for the financial year which give a
true and fair view of the state of affairs of the company and of its profit or loss for that year. In preparing the financial
statements, the directors are required to:

• select suitable accounting policies and then apply them consistently;

• make judgments and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed
and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company
will continue in business.

The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any
time the financial position of the company and to enable them to ensure that the financial statements comply with the
Companies Act 2013 and The Banking Act 2009.They are responsible for safeguarding the assets of the company and
hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Principal business activity

The company provides commercial banking services to the general public in accordance with the regulations of the
Central Bank of The Gambia and the Banking Act 2009.

Results and dividends

The results of the company are as detailed in the accompanying financial statements. The directors have proposed the
payment of a dividend as outlined in note 17.
Annual Report 2021
Property, plant and equipment

The property, plant and equipment of the company are as detailed in note 21 of the financial statements.
There has not been any permanent diminution in the value of the company’s property, plant and equipment.

www.gtbankgambia.com Guaranty Trust Bank Gambia Limited 13