LBDI to Focus on Agriculture, Manufacturing for 2019

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(From left) LBDI board member Elie Saleeby, president John B. S. Davies III and general manger Gloria Menjor, aided by some staff members, present plaques of recognition to several outstanding employees of the bank.

-Transitions to digital banking

The President and Chief Executive Officer (CEO) of the Liberian Bank for Development and Investment (LBDI), John B. S. Davies III, has highlighted the bank’s plan for 2019, stressing agriculture and manufacturing as cardinal points to be achieved.

Mr. Davies made the assertion over the weekend at the LBDI’s 53rd anniversary celebration held at its headquarters in Sinkor. This year’s celebration brought together CEO of the United Bank of Africa (UBA), CEO of the Guarantee Trust (GT) Bank Liberia Limited, LBDI’s board of directors, CEO of TOTAL Liberia, staffers of the bank and family members, many of which were honored by the bank for dedicated service.

The bank honored several employees in different categories, including 10 years of service, 12 years of service, and 25 years of service to the bank and its many customers. “We stand on the pivot of time to recount and appreciate God almighty for working with everyone in the bank during these 53 years, as officials of the bank navigate the hurdles, challenges, prospects and happiness of our continuous existence,” Mr. Davis said.

Mr. Davis said the LBDI’s board of directors have agreed to transition from the current banking software, which is used for enterprise resource and planning (ERP) to more sophisticated one, which will take into consideration modern day banking, including internet banking, anti-money laundering and public financing regime, digital financing and protocol.

Mr. Davis said the board of directors has deemed it necessary to approve the management concept for investment banking in Liberia. “We will now sharpen the way we do business, especially access to finance for manufacturing and agriculture. We must underscore the fact that the staffs of the bank have been the foundation and the backbones of which all the laudable have been achieved,” Mr. Davis said.

“We are cognizant of the fact that our customers through, the length and breadth want to make use of this service.”

He said the LBDI turned 53 years old by offering dedicated banking services, 53 years of upholding the confident Liberian people and customers based at large and 53 years of strategic partnership and collaboration with not only public sector stakeholders, but with multilateral partners.

Staff, customers and guests of LBDI at the bank’s 53rd anniversary celebration, held Friday, December 7, 2018.

According to Mr. Davis, the LBDI is on course to crossing the US$200 million mark in total asset, a statements that was marked with applauses by the audience. Mr. Davis added that dividend to shareholders is assured.

“We are delighted with what is seen in terms of the financial results and remain confident that holding shareholders meeting in March, everyone will smile from ear to ear. We are also on course in crossing the mark of 250,000 customers daily,” Mr. Davis said.

This is important because it clearly shows that LBDI is not just one of the largest retail banks in Liberia, but also a quarter million of the citizens have seen reasons to do business with the bank in terms of products. Mr. Davis said he was delighted that the bank now provides mobile money service to its many customers, lauding the employees for providing such valuable service to the people of Liberia.

He said this program will be supported to the fullest to ensure that banking will not require customers to go to the banking hall.

“We want to ensure that this idea and concept that, whereby the board couple of days ago is placed to the fullest on the road and we can mobilize funding to focus specifically on manufacturing and agriculture. We know that these are all ambitious targets. We are confident by virtue of the fact employees’ patronage over the years have given the bank the reason to continue or persevere,” Mr. Davis said.

Mrs. Clavenda O. Payman, who has spent 25 years with the bank lauded the bank for recognizing the work and services to the people.

1 COMMENT

  1. This was an idea to be initiated prior to this board member and present CEO of LBDI. Since now the decision is being made. The gratitude should be extended to long service members and customers who deposit in Liberian dollars and treasuries, stocks and bonds. In other words, the authority of this *manufacturing agriculture * project test will depend on local goods and services while keeping customers accounts and extending them loan offers in local currency rather in United States Dollars. It is also hoped that officials like these board members and CEO still hanging will not use customers Liberian dollars to capitalize on and enrich themselves, as have been done before and after the civil war, using the people’s monies to exchange for their personal entertainment trips abroad for private gains or luxury products for themselves. Local customers who deposit only in Liberian money have their hard labor obtained within the nation and should have first preference to this bank. We will be watching the activities of these bank officials and secret partners of this bank remove them in cases where they misuse the Liberian currency by their obsession with United States dollars and some of their greed and taste, bluff on its products. Change-in systems of accounts as management is replaced was a form of corrupt practices at this bank even when some board members and officials of government who once served
    or now serve as managers or presidents of the bank. Concupiscence for customers accounts, a long record of this bank, will not be allowed any longer especially by silent partners these bank officials will never get to see or know. Do not reply me. Tell the Bank.
    Gone to silent majority.

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