Nigeria: The Nation's Banks May Leave the Gambia

31 October 2010

Nigerian banks may be compelled to stop operations in The Gambia as opportunities and revenue thin down, exacerbated by rising competition and negative impact of the global meltdown.

At the end of the 2009 financial year, the country's banking industry comprising 13 banks recorded total loss of about 45 million Dalasis (about $1.5million). Ten of the banks declared losses as against three banks with the bottom-line on the positive territory.

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