Page 20 - Agib Bank Ltd Annual Report and IFRS Financial statements 2020

The laudable performance detailed above was made possible your management and staff supported by
robust Technology.

HUMAN RESOURCES

Training and capacity building continued to be the priority. Every staff in the bank attended training of some
sort either locally or externally during the year under review.

Compliance with regulatory guidance and international best practice is mandatory and as such, training in
Anti-Money Laundering and Terrorist Financing is continuous as part of the Know Your Customer (KYC)
process. All front office staff undergo training at least semi-annually.

We will continue to prioritize capacity building as well as consider human capital to be the most critical in
every successful Institution.

TECHNOLOGY

Our customers are now enjoying banking in the comfort of their living rooms, thanks to our internet banking
platform.

We have developed in-house capacity for printing ATM cards. The bank is now able to print and deliver ATM
cards within minutes of receipt of the request. This is an incredible turnaround time.

Customers continue to enjoy SMS & Email alerts whereby alerts are received whenever a transaction is done
on their accounts.

CORPORATE SOCIAL RESPONSIBILITY

Giving back to communities is a core objective for the bank and we will continue to support key sectors like
Education, Security and Health Sectors. In the fight to reduce the spread off Covid-19, the bank pledged
D0.2 million to the Gambia Chamber of Commerce through the Bankers Association to support private sector
business and to minimize the potential impact of the Covid-19 pandemic on businesses.

OUTLOOK FOR 2021

• Headline inflation is forecast to be above the medium term target for the forecast period. Year-on-year,
consumer price inflation rose to 7.3% in April 2021 from 5.6% in the corresponding period a year ago.
The increase in headline inflation is mainly driven by food prices due to increased domestic demand
and global prices associated with supply chain constraints.

Month on month, headline inflation decelerated marginally by 0.1% point.
• The demand for loans is likely to increase due to decline in borrowing policy rate. Agib Bank Ltd
• will endeavor to increase deposit levels to take advantages of the lending opportunities.

Annual Report and IFRS Financial Statements for the year ended 31 December 2020 19