Liberia: International Bank Limited Unveils State-of-the-Art Facility
MONROVIA – The International Bank Liberia Limited (IBLL), formerly the Internal Trust Company (ITC) is recognized as the oldest commercial Bank in Liberia celebrating over 60 years of service to the Liberian people and going through some of the most difficult of times together with the Liberian people.
The Bank was established in 1974 by an act of legislature to develop and manage Liberia’s maritime program by a group of former United States of America military officers. In 1960, banking department was established to meet the financial needs of the growing Liberian business community and its citizens.
In 1999 the contract for the management of Liberia’s maritime program expired and couldn’t be renewed, shareholders of the International Trust Company decided to stay on to continue the operations of the commercial Banking Department because of their long history with the Liberian people.
During Some of Liberia difficult past, IB formerly ITC maintained uninterrupted services to Clients, except for momentary closures when the situation escalated. The Vault at its Iconic headquarters on Broad Street is still scarred from failed attempts to loot its contents.
Over the years, the bank has continued to expand from a one-branch location on Broad Street to 19 locations around the country. Over the weekend, the Bank dedicated its new state-of-art headquarters in the new commercial district of Monrovia signifying its commitment to giving its customers a world class customer service experience while behind the scenes, updated IT platforms will allow the Bank reach new customers with an array of products and services. Diversity and the beauty of
IB has over the year’s cemented relationship with few international partners to include; OPIC, now DFC, the Development Finance Corporation of the United States Government. In the early 2017 the bank benefited from a US$20M facility on lending and also about to concludeUS$20M facility with longer tenor.
“We commit to be here for the next 60 years and more; celebrating the true spirit of trust, Reliability, Resilience, Diversity ad beauty of the Liberian people and of course our exquisite pepper coast, represented by our pepper bird.”
At program marking the official dedication of the bank headquarters in Sinkor, Monrovia, Mr. Henry F. Saamoi who is the chief Executive Officer (CEO) of the International Bank Liberia Limited (IBLL) or IB, said the bank remains humbled by the support of its partners and valued customers, as serving the people has been and continues to be their highest privilege.
He challenged the dedicated staff of the bank to continue to help their valued customers and prospective valued customers to build the future they dream about through tailored and personalized banking services.
He boasted of IBLL being one of the very few foreign investments in Liberia that is run entirely by a Liberian management team and lauded the Board of Directors for believing in the team which is made of committed and dedicated Liberians.
Mr. Saamoi said IBLL, as trust partner, believes that there is no better time than now to reaffirm to the Liberian people that the bank is here to stay.
Also making remarks at the dedication Program, Liberia’s Finance Minister Samuel Tweah said “Today, we have gathered here to witness a transition and a celebration of International Bank. We are witnessing the transition of the IB to this magnificent corporate headquarters, which symbolizes flowering and maturing of the bank as a sound financial institution that is here to stay.”
He said for the leadership to be able to achieve this, is a symbol of Liberia’s success and must be celebrated, stating: “Mr. Saamoi and his team are monuments of Liberia’s success in the financial sector and look forward to replicating this model to other sectors of the country.”
Mr. Tweah said as a government, they are committed to creating an enabling environment to solve big risks or challenges while indicating that the government has done some things to help the banking sector and will continue to work together.
“The financial sector has been hit hard but the government is doing her best to ensure that the sector remains viable. We are working to resolve obligations in the financial sector. We are solving non-performing loans,” Mr. Tweah said.
Mr. Stephen D. Cashin, the Director and majority shareholder of the bank, expressed gratitude to the staff of the bank and customers for making his life a success.
“Thank you for giving us the confidence to reconnect to Liberia with a sincere investment, the corporate headquarters. Madam Vice President, thank you for your service to Liberia over a long period and also thank you for being a long-standing client of International BankLiberia Limited,” Mr. Cashin said.
Mr. Cashin told Vice President Howard-Taylor the bank appreciates trust and commitment to working with the team of smart and dedicated Liberians.
Mr. Cashin also lauded former President Johnson Sirleaf for her continued promotion of Liberia to the world, which is bringing the country back to the world stage and respecting the democratic environment as well as allowing for democracy to take its course after her time was over.
Mr. Cashin lauded Mr. Saamoi, along with his team, for their commitment to the Board of Directors, to him, customers, and Liberia, stating “trust is hard to come, but I trust you.”