Financial Crime World

Central Bank of The Gambia Releases Asset and Liability Statements

Banjul, The Gambia - June 1994

The Central Bank of The Gambia has released its latest asset and liability statements for the period ending in June 1994. The statement reveals a significant increase in assets and liabilities, reflecting the growing economy of the country.

Assets

  • Total assets increased by 15% to D'771,148 compared to D'717,029 in the previous year.
    • Cash holdings decreased to D'12,387 from D'12,864.
    • Balance with the Central Bank also decreased to D'84,798 from D'66,033.
  • Loans and advances increased by 24% to D'398,490, driven mainly by an increase in lending to private sector entities.
  • Foreign assets showed a significant increase of 123% to D'64,003, driven mainly by an increase in foreign currency holdings.

Liabilities

  • Total liabilities increased by 18% to D'771,148 compared to D'717,029 in the previous year.
    • Deposits from government and official entities accounted for a significant portion of the increase, increasing by 22% to D'629,119.
  • Allocation of Special Drawing Rights (SDRs) also showed an increase of 10% to D'67,956.
  • Foreign liabilities decreased by 5% to D'358,189.

Capital and Reserves

  • The bank’s capital and reserves stood at D'7,538, a decrease from D'9,000 in June 1993.

Related Development: Commercial Banks

  • Commercial banks in the country reported significant increases in assets and liabilities.
    • Total assets increased by 24% to D'771,148 compared to D'717,029 in the previous year.
    • Cash holdings decreased to D'12,387 from D'12,864, while balance with the Central Bank also decreased.
  • Loans and advances showed a significant increase of 24% to D'398,490, driven mainly by an increase in lending to private sector entities.
  • Foreign assets also showed a significant increase of 123% to D'64,003.

Conclusion

The statement has been hailed as a positive development for the country’s economy, reflecting the growing confidence of investors and lenders in the country’s financial system.