Prime Bank (Gambia) Limited, commonly known as Prime Bank (Gambia), was a private commercial bank in
the Gambia
The Gambia,, ff, Gammbi, ar, غامبيا officially the Republic of The Gambia, is a country in West Africa. It is the smallest country within mainland AfricaHoare, Ben. (2002) ''The Kingfisher A-Z Encyclopedia'', Kingfisher Publicatio ...
. It was the 12th commercial bank to be licensed in the country. The bank was a subsidiary of the now defunct
Lebanese Canadian Bank
The Lebanese Canadian Bank (LCB), now defunct, was a bank based in Beirut in Lebanon, which maintained a network of 35 branches in Lebanon and a representative office in Montreal, Quebec, Canada. The bank was established in 1960 as Banque des Activ ...
(LCB).
History
The
Lebanese Canadian Bank
The Lebanese Canadian Bank (LCB), now defunct, was a bank based in Beirut in Lebanon, which maintained a network of 35 branches in Lebanon and a representative office in Montreal, Quebec, Canada. The bank was established in 1960 as Banque des Activ ...
(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 ( , ar, لُبْنَان, translit=lubnān, ), officially the Republic of Lebanon () or the Lebanese Republic, is a country in Western Asia. It is located between Syria to the north and east and Israel to the south, while Cyprus lie ...
, 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 (french: République démocratique du Congo (RDC), colloquially "La RDC" ), informally Congo-Kinshasa, DR Congo, the DRC, the DROC, or the Congo, and formerly and also colloquially Zaire, is a country in ...
(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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