Guaranty Trust Bank (GTBank) reported Le529.66 billion as deposits from customers in 2015, the highest so far among the 9 commercial banks that have released their financial statements for the year ending December 31, 2015.
However GTBank clocked the 4th largest growth in deposits of Le45.2billion among the 9 commercial banks that have declared their profits. GTBank remains number one in terms of profit both before and after tax for 2015.
Standard Chartered Bank (SCB) is second in terms of customer deposits recording Le527.07 billion in 2015. SCB clocked the biggest growth in deposits of Le78.36billion. This shows a strong customer confidence although analysts say a lot more foreign NGOs use SCB as their preferred choice and this accounts for their strong growth in deposits.
First International Bank (FIB) ranks third, announcing a growth of Le285.26 billion in customer deposits. FiBank also ranks third in growth of customer deposits showing a strong increase of Le51.18billion.
Zenith Bank is in fourth place with Le282.40 billion in deposits from customers in 2015. Zenith also marked the fifth biggest increase in customer deposits of Le34.3billion. Interestingly, Zenith Bank had more deposits in 2014 compared to FIB, but FIB moved to third place in 2015 while Zenith moved backwards to fourth place.
United Bank of Africa (UBA) which ranked second in terms of profit moved to fifth position in terms of deposits from customers. UBA reported Le218.93 billion as customer deposits in 2015 from Le157.36 billion announced in 2014 recording the second highest growth of Le61.57billion. As one of Africa’s biggest banks, UBA now seems to be a bit more attractive to customers as it seeks to move up the ladder in the banking industry in Sierra Leone.
Access Bank is the only bank among the 9 so far which recorded a drop in deposits from Le118.59 billion in 2014 to Le107.28 billion in 2015. The bank ranks sixth in terms of customer deposits showing a decrease of Le11.31billion over the 2014 figures.
FBN shows a modest increase of Le4.92billion over its 2014 figures. It ranked 7th in growth in customer deposits.
Skye bank ranked 8th in customer deposit of Le58.96billion showing an increase of Le16.75billion which is the 6th biggest increase.
Keystone Bank that is in ninth position reported Le39.01 billion in 2015 from Le38.41 in 2014.
Total deposits from customers in 2015 for all the 9 banks is Le2.13 trillion compare to Le1.85 trillion in 2014.
Monday June 27, 2016
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