Page 99 - GTBank Annual Report 2020 eBook

Acceptances, bonds, guarantees and other obligations for the account of customers:

In thousands of Dalasi Dec.-2020 Dec.-2019
Contingent liabilities:
Acceptances and guaranteed commercial papers - -
Transaction related bonds and guarantees 43,449 64,556
Customer Bonds - -
43,449 64,556
Commitments
short term foreign currency related transactions
Clean line facilities and letters of credit 295,598 646,084
Other commitments 413,910 432,695
752,957 1,143,335

30. Related parties
Related party transactions
Parties are considered to be related if one party has the ability to control the other party or exercise influence
over the other party in making financial and operational decisions, or one other party controls both. The
definition includes parent company, affiliates, subsidiaries, associates, and joint ventures as well as key
management personnel. Below are the transactions between the Bank and other subsidiaries in the Group
during 2020 All transactions were carried out at arm’s length.

Balan Balan Balan Balan Balan Balan Balan Balan
ces ces ces ces ces ces ces
held held held held held held held ces Time Plac Plac Placem
held Depo eme eme
with with with with with with with with sit nt nt ent
other other other other other other other other
Banks Banks Banks Banks Banks Banks Banks
Banks
Currencies USD GBP EUR CHF SEK DKK CAD CFA USD EUR USD GBP
2020 ‘000 ‘000 ‘000 ‘000 ‘000 ‘000 ‘000 ‘000 ‘000 ‘000 ‘000 ‘000
Subsidiary
GTB Sierra
Leone LTD 1,006
GTB Cote
D’Ivoire 9,514
Limited
GTB UK
Limited 1,132 268 702 66,477 1,000 - 37,594 1,200 4,600 650
2019
Subsidiary
GTB Cote
D’Ivoire 6,916
Limited
GTB UK 1,172 106 656 23,128 1,000 1,759 5,297 2,200 3,400 550
Limited

Annual Report 2020
Guaranty Trust Bank Gambia Limited www.gtbankgambia.com 97