Page 24 - Ecobank Gambia Annual Report 2020

Financial Statements & Annual Report

Directors’ Report

Results and dividends

The Board of Directors have declared payment of dividend for the financial year end December 31st 2020 in line with
the commitment of the Bank’s Board of Directors to meet its commitment to shareholders by way of consistent dividend
returns. This amounts to GMD 206,655,130.01 (Two hundred and six million, six hundred and fifty-five thousand, one
hundred and thirty dalasi, one butut) .This represents dividend pay-out of 70% and dividend per share of 45.3 bututs.

Biography Information of Directors

Age category Up to 40 years 41-60 years Above 60 years
Number of Directors
Nil 4 2

Role of the Board

The Directors are responsible for the long term success of the Bank. They determine the strategic direction of the Bank
and review the operating environment, financial and risk performance respectively. Responsibility for the development
of policies and strategies and operational management is delegated to Management.

Directors and directors’ interest

The members of the board of directors are as detailed on page 10. The following directors who held office during the
year had beneficial financial interest in the shares of the company as detailed below:

No. of shares held

% Shareholding 31-Dec-20 31-Dec-19

Mr. Muhammad Jagana 0.07 300,000 300,000

Auditors
The current joint Auditors, Grant Thornton (Senegal) and HAD & Co (Gambia) have indicated willingness to continue as
our Auditors for the financial year 2021 in accordance with section 342 of the Companies Act 2014.

By order of the board of directors

Company Secretary
Date this 7 day of May 2021

22 Ecobank Gambia Annual Report 2020 www.ecobank.com