Prime Bank (Gambia) Limited, commonly known as Prime Bank (Gambia), was a private commercial bank in
the Gambia
The Gambia, officially the Republic of The Gambia, is a country in West Africa. Geographically, The Gambia is the List of African countries by area, smallest country in continental Africa; it is surrounded by Senegal on all sides except for ...
. It was the 12th commercial bank to be licensed in the country. The bank was a subsidiary of the now defunct
Lebanese Canadian Bank (LCB).
History
The
Lebanese Canadian Bank (LCB), the parent company of Prime Bank (Gambia), operated from 1968 through 1988 as a subsidiary of the
Royal Bank of Canada Middle East.
LCB was among the top ten league banks in
Lebanon
Lebanon, officially the Republic of Lebanon, is a country in the Levant region of West Asia. Situated at the crossroads of the Mediterranean Basin and the Arabian Peninsula, it is bordered by Syria to the north and east, Israel to the south ...
, known as the Alpha Group, but was shut down after the intervention of the U.S. Law enforcement and regulatory community. Prime Bank (Gambia) was LCB's first African subsidiary. LCB has been working to set up a subsidiary sn in the
Democratic Republic of the Congo
The Democratic Republic of the Congo (DRC), also known as the DR Congo, Congo-Kinshasa, or simply the Congo (the last ambiguously also referring to the neighbouring Republic of the Congo), is a country in Central Africa. By land area, it is t ...
(DRC). In January 2013, in light of US investigations, the investors in the institution decided to close down the bank by withholding new capital injection, to meet new capital requirements by the
Central Bank of The Gambia
The Central Bank of The Gambia is the central bank of The Gambia. Its name is abbreviated to CBG. The bank is located in Banjul and was established in 1971. Buah Saidy is the current Governor.
Operations
As a central bank, CBG is responsible ...
(CBG).
External links
Prime Bank (Gambia) OpenedPrime Bank (Gambia) Homepage
See also
* List of banks in Gambia
References
Banks of the Gambia
Banks established in 2009
Serekunda
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