All Things Fintech in Africa

The 5 Best Banks In Gambia (2022)

In the banking industry, it is normal for Gambian banks to reel out financial services to benefit their customers and also to attract more to their base. While these commercial banks are licensed to operate they have not only maintained a solid reputation locally in the banking industry, but also internationally. To know how many banks are in Gambia, you have to be sure on the type of bank, whether it is commercial, micro-finance or even mortgage.

While there are 13 licensed commercial banks in Gambia, not all these financial institutions are equal. Some are bigger and older, while other new generation banks are richer in terms of total assets and consolidation. The rankings of the 5 best banks in Gambia right now is officially put on our platform so as to guide you about the most reliable bank with the highest number of branches in the country. Also if you are looking for the best bank to work with in the country that pays the most salary at entry level, we have that covered in this article.

Bank ratings in Gambia are published yearly based on some key factors and variables. These financial institutions are graded based on market value, brand esteem, the biggest banks by total assets, bank with the highest number of branches and ATM, customer fulfillment and so on.

So, which among these Gambian banks is best to open a savings or current account with and save your hard earned money in? Using various reviews and experience, we shall list 5 best banks in Gambia that you can trust to save your funds in, be you a civil servant, business man, student, trader, etc. All are based on customer reviews.

Zenith Bank

Zenith Bank PLC ranks number one in Gambia by tier-one capital in the 2022 Top 1,000 World Bank ranking. Zenith Bank is another top licensed commercial bank providing financial services not only in Gambia but also in West Africa. Established in 1990, this institution was listed on the Gambian Stock Exchange (NSE) and is also Gambia’s biggest bank by tier-1 capital with worth over $1.79 billion in shares.

Zenith Bank financial services ranges from Pension Management, Corporate and Investment Banking, Commercial and Consumer Banking, Personal and Private Banking, Trade Services and Foreign Exchange, Treasury and Cash Management Services, etc. They are also one of the richest banks in Gambia with asset estimated to be worth $8.7 billion in total.

2. Guaranty Trust Bank

Guaranty Trust Bank is one of the best banks in Gambia that provides real digital banking service at its peak. They have one of the best customer care service and would respond well to any of your queries until you are satisfied.

With over 500 branches across the continent and 250,000 customers in Gambia, Guaranty Trust Bank is a trustworthy bank to save your money in. The bank charges are less when compared to other  new generation commercial banks. Guaranty Trust Bank is also worth $13.2 billion in terms of acquired assets.

3. Ecobank Gambia

Ecobank Gambia, is another old commercial bank operating in Gambia with many branches all over the country. Most military officers prefer using this bank to open a salary account as well as civil servants.

Ecobank operates in 32 countries with its headquarters in Lome. This financial institution offers banking services such as wholesale, retail, loans, savings, investments, debit and credit cards, corporate, investment and transaction banking services to their customers.

4. Standard Chartered Bank

Standard Chartered Bank is another reliable Gambian bank that has come a long way in maintaining its reputation among Gambians and in the banking industry. With over 400,000 customers patronizing this bank, it is impossible to not notice them. What we know is that they are popular among market women.

This licensed bank was established i Gambia since 1894 and has assets worth over $6.51 billion. Standard Chartered Bank has promoted the corporate banking sectors as well as Micro Small and Medium Enterprises (MSMEs). The increase in savings deposits over the last three years via their mobile and internet banking products, shows that their retail digital banking service is one of the best.

5. Prime Bank

Established in 2009, Prime Bank is one of the new generation banks worth mentioning on this list. They offer banking services not only to large corporations, but to public institutions, SMEs and individuals.

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