Overview

Standard Chartered is a market-leading financial service brand in The Gambia. The bank has been operating in The Gambia since 1894 and was the first Bank to introduce Automated Teller Machines in the Gambia, with 10 ATM's which accept VISA cards within the greater Banjul area. The Bank also boasts of 5 branches in prime locations in Banjul, Serrekunda, Kairaba Avenue, Senegambia, and Basse.

Standard Chartered aspires to be the best international bank for its customers in the Gambia. The Bank derives more than 70 percent of its operating income and profits from FX income and has been rewarded with the Best Foreign Exchange Bank Award in 2013, 2009, 2008, and 2007 from the Global Finance and Bank of the Year Awards from the Banker in 2013, 2009, 2006, and 2009. In 2014 Standard Chartered Gambia won the Best Bank Award from Global Finance and the Banker of the year from EMEA Finance.

The Bank is committed to building a sustainable business over the long term and is trusted in The Gambia for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity.

It employs over 150 people, many of whom are women. Standard Charted Gambia Ltd employees are of different nationalities among senior management.


Key Messages

The Gambia is a core part of the Bank's Group Strategic Intent.

The Bank has 5 branches, 10 ATMs, over 150 staff (out of which over 15 are on international assignments across our global network) and a multiplicity of alternate channels through which we serve our over 30 000 customers.

The Bank's economic contribution to The Gambia has been the culmination of over 121 years of sustained and increasing investment in the country, playing the Central Bank role at one point.

Despite the challenges in the external environment, the business in Gambia has good momentum: in 2015, the Bank's operating income in Gambia grew one percent to $12.24m (from $11.42 in 2014).

We recorded strong balance sheet growth in 2015 with loans and advances growing by seven percent to USD13.40m YoY.

We enter 2016 in a position of strength. The investments we have made in our distribution channels, in our products, our services, our people and our systems are realising immediate value. We continue to differentiate our brand and have confidence in our strategy for long-term, sustainable growth.

Standard Chartered in The Gambia remains well capitalized. Our capital position is above the regulatory minimum.

Standard Chartered is a highly respected, well established "household name" in The Gambia, with deep-rooted local knowledge and experience.

Standard Chartered also has a unique international footprint which enables the Bank to facilitate the growth of international trade corridors between Africa and the rest of the world

With world-class suites of products, services, distribution channels and systems, the Bank provides customers with increasingly sophisticated and pioneering banking services – unrivalled in The Gambia.

The application of Group Risk Management standards in Gambia provides the Bank with a strong and sustainable foundation for well-managed growth. Standard Chartered applies the highest and most stringent level of international governance and risk management to all banking activities in The Gambia.

Performance

  • We are keeping our promises to shareholders and have a strong track record of performance. We had a truly challenging but remarkable 2016 and delivered stunning results.


Strategy

  • We have created a significant presence in The Gambia where we are one of the country's most respected financial institutions.
  • We have combined global capability with deep local knowledge and creativity to outperform our competitors.
  • We will continue to balance the pursuit of our growth with firm control of costs and risks.


Governance & Compliance

  • We continue to set governance standards in the countries we operate by migrating FSA best practices, e.g. KYC, AML, etc.
  • We actively engage with all our Governments and Regulators to share our skills and expertise and work in partnership to support sustainable development.


Growth

  • We operate in a very dynamic environment with limitless opportunities for growth. We are well positioned for this growth and continue to focus our growth plans of increasing the number of our customers and number of our products per customer by 2017.


Community

  • We aim to make a positive contribution to the communities that we operate in through our various initiatives that link our core business activities, expertise and resources with the key issues facing these communities.


Branch Network

  • We continue to develop and leverage our network of five branches and Ten ATMs, to improve productivity levels and effectiveness.