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Trust Bank: interest income reaches 820 million dalasis

09/07/2024
Source : ORISHAS-FINANCE
Categories: Sectors

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The bank's interest income increased from 666 to 820 million Dalasis. The information comes from the Chairman of the Board of TrustBank-Gambia,

Franklin Hayford.

The increase in Trust Bank-Gambia interest income from loans and investments indicates an increase in revenue generated from interest on loans and investments. According to the chairman of the board of directors, this indicates effective lending strategies combined with higher returns on investment. For the latter, the bank's performance in 2023 demonstrated enormous progress in executing its strategy. According to Hayford, the bank grew in several key measures, indicating a positive overall performance

.

Presenting the bank's annual report, Hayford said that “the increase in pre-tax profit from 248 to 259 million dalasis may seem modest, but it still shows a positive trend.” He added that “the group's profits were affected by the loss of 10 million dalasis recorded by the subsidiary Bayba Financial Services in 2023, but overall, the group is managing its expenses well while improving its revenue streams

.”
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