Published: August 5, 2024
MONROVIA – International Bank Liberia Limited (IBLL) has firmly denied allegations of bankruptcy and impending sale. In a press statement, the bank asserted that it “remains in a very stable financial position,” citing its most recent audited accounts, which are publicly available on their website.
“Our utmost priority is the wellbeing of our customers. If you have any questions or concerns, please do not hesitate to reach out or visit us at one of our branches,” the statement emphasized.
Concerns about the bank’s liquidity emerged amid speculations that its head, Mr. Henry Saamoi, was being considered for the role of Executive Governor of the Central Bank, potentially replacing embattled Governor Aloysius Tarlue.
Mr. Saamoi completed his term with IBLL in May 2024. When he became CEO in 2012, the bank’s total assets were US$88,655,506, and it operated from rented buildings. Under his leadership, the bank’s total assets grew to US$201,073,999, and it acquired three of its own buildings, including a state-of-the-art headquarters between 11th and 12th Streets.
Saamoi is also credited with transforming the bank into a foreign-owned institution with 100% Liberian employment and a youthful leadership team. According to the Central Bank of Liberia, IBLL currently boasts the lowest non-performing loan ratio among banks in the country at 6%.
Discussion about this post