Gambia

Trust Bank

After posting record net profit for 2002 and becoming the first of the country’s banks to float shares on a stock exchange, there is no doubt in the judges’ minds that Trust Bank is the most outstanding bank in The Gambia.

Trust Bank had a banner year in 2002, boosting net profit by almost 60% and delivering an ROE of 66%. Much of the profits growth was the result of huge demand for the bank’s foreign currency accounts on the part of businesses and high net worth individuals.

The bank’s exceptionally high degree of efficiency

was, furthermore, reflected in a cost-to-income ratio of

just 27%.

Recognising its ability to maximise shareholder value, the bank also became the first in The Gambia and in western Africa, for that matter, to be listed on a stock exchange. Its shares are traded on Ghana’s exchange.