Monrovia — As the International Bank Liberia Limited embarks on the expansion of banking services across Monrovia, the Chief Executive Officer, Mr. Thomas S. Jeffrey III, says the growth of any nation is dependent upon economic and private sector growth.

Speaking at the official launch of the Caldwell Branch of International Bank Wednesday, Mr. Jeffrey said in the absence of economic growth national development is illusive.

"We will accelerate the banking sector; IB has a history of being here since 1960. We are going to stay and grow with the country," Mr. Jeffrey told his audience.

He noted that his banking institution will always serve the Liberian people hoping that their services will be extended throughout the country, adding that IB will continue to grow as Liberia grows.

He indicated that the launch of the Caldwell Branch is one of six branches earmarked.

The IB Chief Executive Officer disclosed that another branch will be launched in Kakata, Margibi County on July 26, 2008.

He thanked staff of the Bank for their dedication and commitment to duty adding "we hope to do more for the country."

In his keynote address, the Assistant Manager for Bank Supervision at the Central Bank of Liberia, Michael Ogun lauded IB for opening a new branch that would help Liberians.

He said the CBL has encouraged the expansion of commercial banks as a way of bringing competition.

Ogun urged the management of IB to expand its services to other parts of Liberia aimed at enhancing economic growth.