| Author |
 Topic  |
|
|
Momodou
Denmark
11833 Posts |
 Posted - 01 Nov 2010 : 18:36:01
|
Nigerian Banks May Leave The Gambia – Thisday
November 1, 2010
by Bunmi Awolusi
http://nigerianbulletin.com/2010/11/01/nigerian-banks-may-leave-the-gambia-thisday/
Nigerian banks may be compelled to stop operations in The Gambia as opportunities and revenue thin down, exacerbated by rising competition and negative impact of the global meltdown.
At the end of the 2009 financial year, the country’s banking industry comprising 13 banks recorded total loss of about 45 million Dalasis (about $1.5million). Ten of the banks declared losses as against three banks with the bottom-line on the positive territory.
Managing Director of Guaranty Trust Bank Gambia, Mr Lekan Sanusi, told journalists in The Gambia last weekend that the country could only take a certain number of banks.
He said: “But do we really need as much as 14 banks in a relatively small country like The Gambia? If you divide the number of banks in this country by the population of about 1.7 million, you have an average of 100,000 people per bank. Revenue is going down. What I know is that in the long run, people will count their numbers.
|
A clear conscience fears no accusation - proverb from Sierra Leone |
|
|
toubab1020
12314 Posts |
Posted - 01 Nov 2010 : 21:13:05
|
| Well, financial problems have been accepted in The Gambia at last,proving that The Gambia cannot be insulated against world problems,who will bail out The Gambia's banks ? Any idea ? The Government as in UK and parts of Europe ?.I doubt it, what will this mean for the average Gambian? The traders who import materials from the outside world,I await developments,I think that the value of the Dalasi may slide against other moneies. |
"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
|
Edited by - toubab1020 on 01 Nov 2010 21:15:04 |
 |
|
|
Karamba
United Kingdom
3820 Posts |
Posted - 01 Nov 2010 : 22:55:06
|
| Considering the legal obligation of businesses regarding taxation, crafty money dealers have found ways of declaring loss before tax as exit route out of the tax trap. Accounting craft is full of it. To declare loss this report shows is not enough. Further independent scrutiny could produce more telling financial picture. |
Karamba |
|
|
|
toubab1020
12314 Posts |
Posted - 01 Nov 2010 : 23:01:26
|
| Karamba the report is only a generalisation, a breakdown of the each banks' financial dealings would give more to work on I am sure,will that happen ? of course not,so the report is all we will get. |
"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
|
|
|
|
Karamba
United Kingdom
3820 Posts |
Posted - 02 Nov 2010 : 00:12:12
|
| That's the point Toubab1020, bet they will never get clean on that part of the body wash. |
Karamba |
|
|
|
mansasulu
997 Posts |
Posted - 02 Nov 2010 : 14:53:54
|
| i am glad they are coming to their senses. Gambia is way too small for all of these banks. |
"...Verily, in the remembrance of Allâh do hearts find rest..." Sura Al-Rad (Chapter 13, Verse 28)
...Gambian by birth, Muslim by the grace of Allah... |
|
|
| |
Topic |
|
Topic Locked
