In spite of the year 2008 being characterised by the global financial and economic crises, the Guaranty Trust Bank ( Gambia ) Limited continues to record a fantastic growth.

The bank has recorded over 40 per cent growth in balance sheet while its profit before tax grew by 21 per cent over the 2007 figures.  This was revealed in a press briefing held at the bank's head office situated in Kairaba Avenue on Monday by Lekan Sanusi, managing director of GTBank.

The bank's financial results for the year 2008 showed an upward growth in the balance sheet from D1.7billion in 2007 to D2.4billion in 2008, representing a growth of 40 per cent. It was noted that the bank also continued to avail quality credits to its customers as its loan book which was D395 million in 2007 grew to D421 million in 2008. This clearly indicated that the bank's customer base increased while money made available to the business sector of the Gambia economy also increased.

According to the Gtbank boss, in terms of profitability, the bank's gross earning has grown by 41 per cent from D194million in 2007 to D274million as at December 2008 while profit before tax (PBT) which was D58 million in 2007 closed at D70 million in 2008 respectively.
In terms of efficient utilisation of resources and providing good returns to its shareholders, GTBank has achieved a return on asset (ROA) of 4.7 per cent in 2007 and a return on equity (ROE) of 22 per cent (37 per cent) in 2007. However, its ROE dropped due to the increase in equity during year 2008 by issuance of additional 40 million shares at 1.88 per share.

Within 7 years of their operation in the Gambia , the bank has opened 11 operational branches with its head office at Kairaba Avenue. Lekan Sanusi commended his hardworking and dedicated staff and shareholders on the bank achievements. He noted that "with a total balance sheet (BS) of D2.4 billion, we are happy to be one of the three 'big' banks in the country today".