Page 10 - GTBank Annual Report 2020 eBook

Board Chairman’s Statement Cont.

globe. Rising global food prices due to production declines will continue to have an impact on The Gambia
pushing up inflation and putting pressure on the exchange rate and ultimately its external reserves. In
addition, perhaps the one consequence of the pandemic where there is no uncertainty is that we will have

to adapt to a ‘new normal’.

But in 2020 the one thing that we as GTBank (Gambia) came to appreciate through our experience of
running a business during troubled and uncertain pandemic times was the value of having painstakingly
built such a resilient business over time with strict adherence to the principles of good governance.
Ultimately, it was the steady and disciplined efforts by our staff over the years to embed sound processes
and policies and to evolve the right strategies that have allowed us to weather the storm thus far, while

positioning us well for what lies ahead over the medium and long term. For while the financial results for
2020 are very satisfying, they tell an even more important story about the future prospects for GTBank
(Gambia) and the long-term sustainability of our business. We owe a debt of gratitude to the past and
present staff of GTBank (Gambia) who can proudly and justifiably claim to have built this bank into what it
is today.

As GTBank (Gambia) we will stay the course as our approach has served us so well thus far. We will keep
our focus on building a retail bank, leveraging technology wherever possible because we are convinced

that this is the way of the future, particularly as it is in line with and in support of the Government’s policy of
promoting financial inclusion. But we will also keep our policies and strategies under review, adjusting
where necessary to ensure that we provide our cherished clientele with the products and the customer
service they so richly deserve for their outstanding loyalty.

Our human capital at all levels is extremely important to us because we realize that they are the ones that
make the difference. So, we will continue to enhance the capacities of our staff and ensure that they are

appropriately motivated. And perhaps most importantly, we will do all this while maintaining our unflinching
commitment to the highest standards and principles of good corporate governance.

In accordance with the Central Bank Act 2005 the Board hereby presents the Annual Report and Accounts
st
for the year ended 31 December 2020.
Board Chairman’s Statement

Annual Report 2020
Guaranty Trust Bank Gambia Limited www.gtbankgambia.com 8