Page 6 - GTBANK GAMBIA ANNUAL REPORT 2021

during the year. All these challenge yield on financial By and large, your bank remained well capitalized and

assets which drive key revenue line for banks. liquid.

We made substantial progress on our strategic priorities Human Resources is invaluable asset in organization
in delivering value to our shareholders. The more so in the financial service industry where service
performance for the year once again delivered strong is paramount. Therefore, quality of people is critical in

financial results. Profit before Tax increased to D448 ensuring success. Our people remain our most valued
million in 2021 from D313 million in 2020 representing assets and we are determined to ensure our valued
43% growth. Funded income decreased by 5.5% due to staff perform their responsibilities in career progressive
the challenges of the money market. However, this was environment. We will continue to maintain a transparent
compensated for by Non-funded income increasing by recruitment process and transparent performance
47%. Earnings per share increased by 48% to GMD appraisal and reward system.
1.11 while Return on Assets and Return on Equity were In line with current trend and being aware of disruptive

at 3.61% and 33% respectively. nature of Fintech companies/setups, the bank
continued to consolidate its progress in digital
Total Asssets grew by 20% to GMD 10.071 billion from technology in the provision of service. We continuously
GMD 8.363 billion. The growth in Treasury bills, bonds increase our unwavering drive to ensure that banking
and other short term money market instrument mainly service is at the fingertips of our valued customers. Our

accounted for the increase. The bank continued avail Mobile Banking subscription increase by 41% and
credit facilities in the form of loans and advances during transaction volume increase by 113%.
year albeit registering a marginal increase. This is due
to banks deliberate strategy of growing risk assets We also continue to exploit technology to improve on
cautiously. our internal processes to ensure service is delivered
efficiently and effectively.
Deposits liabilities grew by 23% to GMD 8.616 billion

from GMD 6.99 billion indicating indicating continued Despite distance and speed, we will be focused and not
trust and confidence of customers and value the bank lose sight of the ball. Your bank will continue to deliver
presents. on the priorities to ensure value is delivered. In spite of
intense industry competition, we believe Guaranty Trust
Bank (G) Ltd is well place for the years ahead.

I will conclude by sending deep gratitude to all our stakeholders who continue to have faith in this great institution. To
the Board of Directors, we thank you for the unwavering support. We thank you our esteem customers for the patronage
and confidence. We also thank the staff body for the continued dedication and commitment to duty.

Wish you all a successful 2022.

Annual Report 2021

Guaranty Trust Bank Gambia Limited www.gtbankgambia.com 6