Trust Bank total assets increase to D14B
Trust Bank Plc, one of the leading and ‘best performing banks in The Gambia’, has once again delivered strong financial performance during the year under review, with total assets expanding to D14.69 billion from D12.84 billion, reflecting continued growth in the bank’s operations and strength in the market. In addition, the bank’s customer deposits increased to D12.75 billion from D10.7 billion, reaffirming the confidence of its customers and providing a stable funding base for future growth. The bank also maintained strong capital position with capital adequacy improving to 21 per cent, well above regular requirements. The bank’s net interest income rose significantly to D1.11 billion from D946.79 million, supported by improved yields on earning assets and discipline balance sheet management. Franklin A. Hayford, chairman of the board of directors of Trust Bank, made this disclosure on Thursday during the bank’s 28th Annual General Meeting held at Ocean Bay Hotel, Cape Point. The AGM, which brought together board members and shareholders, reviewed and adopted the Annual Report and Consolidated Financial Statement for the year ended 31st December 2025. “The year under review unfolded against a global economic backdrop, while showing gradual signs of improvement remained marked by uncertainties. Inflationary pressures eased across many advanced economics” he said. He, however, noted that global growth continued to tail historical levels, reflecting the lingering effects of geopolitical tensions, supply chain disruptions and tightening financial conditions. “Emerging and developing economies once again demonstrated notable resilience though vulnerabilities persisted, particularly in relation to external shocks and fiscal pressures.” he added. The board chair also draw attention to sub-Saharan Africa, where economic activity strengthened moderately, supported by easing inflation and improving domestic demand. “Nonetheless, exchange rate volatility, commodity price fluctuation and fiscal imbalances remain key risks,” he highlighted, saying: “With this context, the Gambian economy continued to perform strongly, supported by robust activity in tourism, construction and agriculture alongside sustained remittance inflows and continued public and private sector investment.” Gambian Economic Overview The board chair cited that inflation in The Gambia tended downward during the year, reflecting improved supply conditions and the impact of prudent monetary policy measures. “The Central Bank of The Gambia maintained a proactive stance, carefully balancing the need of support growth, while ensuring price and financial stability,” he stated. Strategic development and digital transformation He reminded that the bank continued to make significant progress in its digital transformation journey. In light of this, he said, they have sustained their investments in digital p-platforms and infrastructure, with a clear focus on enhancing customer experience and expanding service capabilities. These initiatives, he observed, are designed to position the bank at the forefront of innovation while responding to the evolving needs of its customers to conduct seamless domestic transaction as well as transfer funds across borders directly from their mobile banking applications and digital wallets. Corporate Social Responsibility (CSR) The bank’s commitment to community development, he observed, remains strong, revealing that the bank undertook numerous CSR interventions across education, healthcare, youth empowerment and community support initiatives. The move, he added, highlights the bank’s active engagement and the tangible impact of their programmes, which cuts across the country. Human capital development and staff wellbeing He indicated that human capital remains central to the bank’s success and that during the year, the bank continued to invest in staff training and development to strengthen skills and enhance service delivery across all levels. “Staff wellbeing and engagement were also prioritised through initiatives led by the Sports, Welfare and Happiness Committee, which promoted teamwork, wellness and a strong sense of belonging within the bank.” Commenting on the country’s economic outlook, he stated that the outlook for the Gambian economy remains positive, supported by continued growth and ongoing reforms. Donald Charles Kaye of PKF- accountant and business advisers, who serves as an independent auditor, maintained that the consolidated financial statement presents fairly, in all material respect, the consolidated financial position of the Group as of 31st December 2025 and its consolidated financial performance and consolidated cash flows for the year ended in accordance with International Financial Reporting Standards (IFRS) and the requirement of the Companies Act of 2013 and the Banking Act 2009. He confirmed that they conducted their audit in accordance with International Standards of Auditing (ISA), pointing out th
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Trust Bank Plc, one of the leading and ‘best performing banks in The Gambia’, has once again delivered strong financial performance during the year under review, with total assets expanding to D14.69 billion from D12.84 billion, reflecting continued growth in the bank’s operations and strength in the market.
In addition, the bank’s customer deposits increased to D12.75 billion from D10.7 billion, reaffirming the confidence of its customers and providing a stable funding base for future growth.
The bank also maintained strong capital position with capital adequacy improving to 21 per cent, well above regular requirements.
The bank’s net interest income rose significantly to D1.11 billion from D946.79 million, supported by improved yields on earning assets and discipline balance sheet management.
Franklin A. Hayford, chairman of the board of directors of Trust Bank, made this disclosure on Thursday during the bank’s 28th Annual General Meeting held at Ocean Bay Hotel, Cape Point.
The AGM, which brought together board members and shareholders, reviewed and adopted the Annual Report and Consolidated Financial Statement for the year ended 31st December 2025.
“The year under review unfolded against a global economic backdrop, while showing gradual signs of improvement remained marked by uncertainties. Inflationary pressures eased across many advanced economics” he said.
He, however, noted that global growth continued to tail historical levels, reflecting the lingering effects of geopolitical tensions, supply chain disruptions and tightening financial conditions.
“Emerging and developing economies once again demonstrated notable resilience though vulnerabilities persisted, particularly in relation to external shocks and fiscal pressures.” he added.
The board chair also draw attention to sub-Saharan Africa, where economic activity strengthened moderately, supported by easing inflation and improving domestic demand.
“Nonetheless, exchange rate volatility, commodity price fluctuation and fiscal imbalances remain key risks,” he highlighted, saying: “With this context, the Gambian economy continued to perform strongly, supported by robust activity in tourism, construction and agriculture alongside sustained remittance inflows and continued public and private sector investment.”
Gambian Economic Overview
The board chair cited that inflation in The Gambia tended downward during the year, reflecting improved supply conditions and the impact of prudent monetary policy measures.
“The Central Bank of The Gambia maintained a proactive stance, carefully balancing the need of support growth, while ensuring price and financial stability,” he stated.
Strategic development and digital transformation
He reminded that the bank continued to make significant progress in its digital transformation journey. In light of this, he said, they have sustained their investments in digital p-platforms and infrastructure, with a clear focus on enhancing customer experience and expanding service capabilities.
These initiatives, he observed, are designed to position the bank at the forefront of innovation while responding to the evolving needs of its customers to conduct seamless domestic transaction as well as transfer funds across borders directly from their mobile banking applications and digital wallets.
Corporate Social Responsibility (CSR)
The bank’s commitment to community development, he observed, remains strong, revealing that the bank undertook numerous CSR interventions across education, healthcare, youth empowerment and community support initiatives. The move, he added, highlights the bank’s active engagement and the tangible impact of their programmes, which cuts across the country.
Human capital development and staff wellbeing
He indicated that human capital remains central to the bank’s success and that during the year, the bank continued to invest in staff training and development to strengthen skills and enhance service delivery across all levels.
“Staff wellbeing and engagement were also prioritised through initiatives led by the Sports, Welfare and Happiness Committee, which promoted teamwork, wellness and a strong sense of belonging within the bank.”
Commenting on the country’s economic outlook, he stated that the outlook for the Gambian economy remains positive, supported by continued growth and ongoing reforms.
Donald Charles Kaye of PKF- accountant and business advisers, who serves as an independent auditor, maintained that the consolidated financial statement presents fairly, in all material respect, the consolidated financial position of the Group as of 31st December 2025 and its consolidated financial performance and consolidated cash flows for the year ended in accordance with International Financial Reporting Standards (IFRS) and the requirement of the Companies Act of 2013 and the Banking Act 2009.
He confirmed that they conducted their audit in accordance with International Standards of Auditing (ISA), pointing out that their responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of their report.
Key audit matters
He disclosed that key audit matters are those matters that in their professional judgment were the most significant in their audit of the financial statements of the current period.
“These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters,” he stated.
Delivering a vote of thanks, Alex Alasan Gomez, head of marketing and Business Development at the Bank, expressed appreciation on behalf of the bank to the managing director and the entire management team for their dedication, professionalism and steadfast commitment to excellence.
“Despite the challenges of an ever evolving financial landscape, your leadership has ensured that the bank continues to grow, innovate, and deliver value to all our shareholders.”
He equally extended gratitude to all staff across their departments, noting that “the achievements celebrated today are a direct reflection” of their “hard work, resilience, integrity, and commitment to providing exceptional services” to their customers.
