Gambiaj.com – (ACCRA, Ghana) – The Gambia journal has reliably learned that Trust Bank PLC (TBPLC) has announced its intention to delist from the Ghana Stock Exchange (GSE), subject to the approval of the Securities and Exchange Commission (SEC) and the GSE. The decision, aimed at refocusing the bank’s resources on its core operations within The Gambia, follows a shareholders’ resolution passed during the company’s 26th Annual General Meeting on July 4, 2024.
According to reliable sources in the Ghanaian financial sector, TBPLC explained that the proposed delisting is part of a broader strategic plan to streamline its operations, optimize resource allocation, and enhance service delivery. The bank assured its stakeholders that the delisting will not adversely affect its day-to-day operations, financial performance, or relationships with clients and partners.
Our source in Accra says “This move will allow the bank to better align its strategic objectives with the needs of our customers and stakeholders in The Gambia, where we continue to maintain a strong market presence.”
Founded in 1997, Trust Bank PLC has grown to become one of the largest commercial banks in The Gambia, providing a wide range of financial services to both retail and corporate customers. The bank’s acquisition of the assets and liabilities of the defunct Meridian Biao (Gambia) Bank laid the foundation for its rapid expansion. Today, it boasts a robust asset base and an extensive branch network across The Gambia, making it a key player in the country’s financial sector.
The bank’s major shareholder, the Social Security and Housing Finance Corporation (SSHFC) of The Gambia, supports this strategic shift, viewing it as a positive step towards reinforcing TBPLC’s focus on its domestic market. The delisting from the GSE will enable the bank to concentrate on improving operational efficiency and service quality, while also exploring new growth opportunities within The Gambia.
Market analysts have noted that TBPLC’s decision to delist is reflective of a growing trend among companies seeking to consolidate their operations in home markets amid evolving economic and regulatory landscapes. “Delisting does not mean a reduction in the bank’s value or operations,” said financial analyst Amadou Jallow. “On the contrary, it indicates a strategic shift to strengthen its core business activities.”
The bank has assured its shareholders and the public that further details regarding the delisting process will be provided in due course. In the meantime, TBPLC remains committed to driving economic growth and development in The Gambia through innovative financial solutions and sustainable business practices.
