Trust Bank Ltd Platform
It's a bold statement, trust bank's mission statement; and if their Performance Meter and plethora of awards are anything to go by, you could say they have lived up to every punctuation in these simple lines:
MISSION STATEMENT
“Our mission is to be the leading bank in The Gambia by operating a profitable banking institution, which meets the needs of all local, international, corporate and individual clients and returns excellent results to our shareholders” .
HOW?
“To achieve this, we shall continue to set new standards by delivering quality services and innovative products with an inspired team dedicated to serving our Customers, Environment and Community at large in the most caring manner”.
PROOF IN AWARDS
In the years of 2003, 2004 and 2005, The Banker Magazine, a subsidiary of the Financial times, awarded Trust Bank Ltd, The bank of the year for The Gambia. On the home front, The Gambia Chamber of Commerce and Industry [GCCI] awarded Trust Bank Ltd The Bank of the year in The Gambia for both 2003 and 2004.
This is all a testament to the esteem with which Trust Bank is held in the industry.
More About Trust Bank
*Trust Bank brands itself as the Gambia Bank with World
Class Products & Services.
• *Trust Bank was incorporated in July 1997.
• *It took over from Meridian Biao ( Gambia ) which had a big presence in English speaking Africa .
• *Trust Bank Ltd was listed on the Ghana Stock Exchange in November 2002.
• *Trust Bank's shareholders include bank employees, individuals in the country and institutions in The Gambia and Ghana .
What makes Trust Bank different??
• It's the Gambia 's local Bank
• Trust Bank has the Widest target market
• With 11 banking outlets, Trust Bank is unarguably the most accessible bank in The Gambia. These branches are in Banjul , Bakau, Yundum, Farafenni, Basse, Serrekunda, Kololi, Latrikunda, Brikama and most recently, Soma. Another branch is planned for Bakoteh.
• An unprecedented, whooping Tax bill of D69m! The highest ever in the history of Banking in The Gambia.
• Trust Bank's Leadership is made up of the most experienced banking practitioners in The Gambia.
• Strong board of directors, efficient staff from diverse backgrounds with an enviable local knowledge ensure the administrative machinery of Trust Bank stays perpetually oiled.
• Trust bank has a unique culture that is difficult to replicate by the competitors. This could be linked to Trust Bank's attitude to Banking and the emphasis they attach to the personal touch.
PRODUCTS AND SERVICES
At Trust Bank numerous and more convenient ways of banking than ever before are offered. Each Corporate Client is assigned to a Corporate Officer Manager who offers solutions to the client's corporate financial needs.
With Trust Bank's Wide – Area – Network, corporate customers have the convenience of transacting business from any of 11 branches spread across The Gambia.
BUSINESS SAVINGS ACCOUNT
This is an interest bearing account which pays a variable annual percentage rate [currently 6%] on balances of D3,000.00 and above. Interest will be paid bi-annually on any amount in excess of D3,000.00.
Corporate Banking Department
The Trust Bank's Corporate Banking Department offers a range of products, such as:
-
Credit Facilities, which include -----------------------------------------------------------------------------------........*overdrafts-----------------------------------------------------------------------------------------------------------------*loans and cheque discounting facilities
---.2. Trade Finance
- Export Letters of Credit
- Import Letters of Credit
.....3. Guarantees
.................• Bid Bonds
.................• Performance Guarantees
.................• Advance Payment Guarantees
....... Deposit Accounts
............... • Current Accounts
................• Fixed Deposit Accounts
................• Savings Accounts
................• Interest bearing Current accounts
................• Student Accounts
Want to save on COT & Maximize profits?
Trust Bank Ltd is the answer. And it's so easy, too!
Open any of the following accounts to enjoy free banking and earn interest on your current account
• Personal Trust Plus Account (Individual)
• Trust Maximiser Account (Sole Proprietors & SMEs)
• Trust Business Plus Account (Corporate / Business)
Open any of the above account and enjoy the following unbeatable benefits:
• Free COT charges/Ledger fees
• Free monthly statements
• Free financial advice
• Earn interest on our plus accounts
• Affordable minimum balance requirement
• Flexible solutions
• Checking account for convenience
Enjoy free banking only from the bank that knows you…Trust Bank Ltd!
TRUST BUSINESS PLUS ACCOUNT
The Trust Business Plus Account is an Interest Bearing account with the added convenience of a cheque book.
Hey, don't jump up yet, the Trust Business Plus Account is Designed for corporate customers with high daily credit balances!
• This account is appropriate for corporate clients
• Checking account
• Service charges are waived if minimum balance is maintained
• Minimum balance D500, 000; if account balance is below
This amount, a charge of D3 will be levied
on every D1,000 withdrawn (COT) and interest
earned would be forfeited
• Interest bearing account
TRUST MAXIMISER ACCOUNT
• Checking account
• Minimum opening balance D100, 000
• Unlimited withdrawals and no COT charges
• CORPORATE CURRENT ACCOUNT
• Checking account
• Ideal for companies and organizations
• Minimum opening balance D5,000
• D3 is charged for every D1000 withdrawn and
• the minimum monthly charge is D50
FOREIGN EXCHANGE PRODUCTS AND SERVICES
Foreign Currency denominated Accounts (FCD)
Trust bank's Foreign Currency Accounts (FCA) are ideal for clients who desire to maintain interest bearing Foreign currency accounts. With Trust Bank's FCD account, you can save your money in either US Dollars, Euro or British Pounds Sterling.
Take a look at the competitive and attractive Trust Bank FCD rates indicated below.
MINIMUM REQUIREMENT FOR THE ESTABLISHMENT OF FCD
Minimum Opening Amount Qualifying Balance For Int'l Payment
USD – 1,000.00 USD – 10,000.00
GBP - 1,000.00 GBP - 10,000.00
EUR - 1,000.00 EUR - 10,000.00
DEPOSITS
Cheque deposits will generally have a value date of 21 days with recourse to the depositor. There is a minimum collection fee of 0.45% to cover Courier and Correspondent Bank Charges. All other charges incurred by the bank in its attempt to collect a cheque will be passed onto the client.
Cash Deposits will be given immediate value and would be limited to approved clients. While management may at its discretion waive this requirement, a compelling business case has to be established. When cash deposits are approved and a swift (wire transfer) is required, we would charge the normal shipment charges of 1%.
WITHDRAWALS
Withdrawals by sale of foreign currency to the bank (or intra FCD transfer) will attract a transaction fee. Withdrawal by SWIFT will attract a transaction fee of USD 35.00, GBP 20.00, Euro 30.00 plus SWIFT charges.
CASH WITHDRAWALS, if permitted, will attract a transaction fee of 1%
Note that withdrawals by cash will be subject to availability.
BANK DRAFTS will attract a transaction fee of USD 10.00, GBP 5.00, EURO 10.00
SHIPMENT
SWIFT requests from accounts into which cash deposits are made would attract a shipment charge of 1% plus SWIFT charges of approximately D400.00
TIME/FIXED DEPOSITS
This is a deposit which is payable at a fixed future date. Interest is paid after an agreed period and varies depending on the amount of the deposit:
---------------------------------------Amount-------------------------------------- Interest Rate
--------------------------D5,000 to D50,000 -------------------------------8%
------------------------...D50,001 to D500, 000 ----------------------------9%
--------------------------D500,001 to D1,000,000 ------------------------10%
--------------------------D1,000,001 and above --------------------------11%
Fixed deposits are ideal for customers with high balances in their Savings/Current Accounts who are sure would not need it for a certain period.
OTHER FEATURES AND MERITS OF FIXED DEPOSITS
Fixed deposits can serve as collateral against facilities
Trust Bank provides an automatic rollover principal and interest at maturity.
RECOMMENDATION:
To get optimum benefit from your funds, Trust Bank and BLSE recommends that you maintain the bulk of your local currency in a savings Account (a variable annual percentage rate of presently 7%). Alternatively, you could maintain a Trust Business Plus Account that allows you the flexibility to write unlimited number of cheques while at the same time earning fantastic interest rates.
To emphasize the value Trust Bank places on Prime customers like you, Trust Bank also has the following services to offer.
*Concessionary rate of exchange on the sale of foreign *currency
*Western Union Money Transfer facilities 
*SWIFT Wire Transfer facilities
*Foreign Currency Shipment.
When applying for any credit facility at Trust Bank, the following basic documentation should be provided:
• Purpose of the facility
• Audited Financial Statements (last three years).
• Cash flow Projections to cover the proposed/repayment period.
• Management profile
• Company profile
• Market information indicating main suppliers, clients, product lines, and competitors
• Collateral.
PERFORMANCE METER, TRUST BANK [2002, 2003, 2005]
Year |
2002 |
2003
|
2005 |
Profit before tax (Dalasi Millions) |
190.1 |
215.9 |
102.9 |
Profit after tax (Dalasi Millions) |
121.0 |
138.6 |
66.9 |
Earnings per share (Bututs) |
403 |
462 |
223 |
Dividend per share (Bututs) |
225 |
325 |
250 |
Financial Structure (Dalasis '000) |
1,380 |
1,790 |
1,994 |
For further information about Trust Bank, please contact the following personnel:
PA MACOUMBA NJIE - MANAGING DIRECTOR ON: 4225782/9909021/ 4225777 ext. 301
OREME E. JOINER - GENERAL MANAGER BANKING ON: 4223000/9909028/ 4225777 ext. 304
IBRAHIM SALLA - CORPORATE MANAGER 0N: 4223150/9909025 /4225777 ext. 329
NDAMBOU TOURAY - FOREIGN EXCHANGE MANAGER ON: 4225289/9909026/4225777 ext 320
SAINABOU JALLOW-GAYE - MARKETING MANAGER ON: 4226575/9910907/ 4225777 ext. 318
For general info, please contact :
Tel: +220-4225289/ 4225291/ 4225777/8
FAX: +220- 4225781
Email: info@trustbank.gm
Web site: www.trustbank.gm
TRUST BANK'S CORRESPONDENT BANKS INCLUDE :
ROYAL BANK OF CANADA
FINANCIAL INSTITUTIONS CLIENT
SERVICE CENTRE
180 WELLINGTON STREET WEST
6TH FLOOR, TORONTO
ONTARIO , M5J 1JI
CANADA
SWIFT CODE: ROYCCAT2
DEN NORSKE BANK
SIRANDEN 21N - 0250
P.O. BOX 1171 N -0107
OSLO
NORWAY
SWIFT CODE: DNBA
BELGOLAISE BANK, FIB CORRESPONDENT BANKING DEPT. CANTERSTEEN 1 B-1000
BRUXELLES
BELGIUM
SWIFT CODE: BLGOBEBB
HSBC BANK USA
140 BROADWAY, NEW YORK
NY. 10015
USA
SWIFT CODE: MRMDUS33
HSBC BANK PLC
P.O. BOX 181
27 - 32 POULTRY
LONDON EC2P 2BX
ENGLAND
SWIFT CODE: MIDLGB22
DEN DANSKE BANK A/S
2-12 HOLMENS KANAL
DK-1092 COPENHAGEN K DENMARK
SWIFT CODE: DABADKKK
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