Finance
List of Commercial banks in Liberia
Liberia’s banking sector plays a key role in the country’s economic development, serving as a conduit for financial services, investment, and monetary regulation. The Central Bank of Liberia (CBL) is the regulatory authority overseeing the sector, ensuring financial stability and promoting sound banking practices. Over the years, Liberia has made efforts to modernize its banking system, though it still faces significant challenges in terms of infrastructure, accessibility, and financial inclusion.
Overview of Liberia’s Banking Sector
Liberia’s banking sector consists of both commercial banks and microfinance institutions. The sector is dominated by a few major banks, which provide services such as loans, savings accounts, and foreign exchange services. The Central Bank of Liberia is tasked with overseeing monetary policy, issuing the national currency, and regulating the financial system to foster growth and stability. Despite these efforts, the sector faces several challenges, including limited access to financial services in rural areas, a lack of technological infrastructure, and vulnerabilities related to political instability and economic fluctuations. Mobile banking has shown promise in expanding financial inclusion, particularly in underserved regions.
| Bank Name | Headquarters | Bank Sector | Bank Revenue (LRD) | Bank Revenue (USD) | Contact Details | |
| Liberian Bank for Development and Investment (LBDI) | Monrovia | Public | 31 million | 0.158 million | Tel: +231 88 651 0365 | |
| Ecobank Liberia Limited | Monrovia | Private | 2.1 billion | 0.0107 billion | Tel: +231 770 200 200 | |
| International Bank (Liberia) Limited | Monrovia | Private | 12 billion | 0.0615 billion | Tel: +231 770 800 008 | |
| United Bank for Africa (UBA) Liberia | Monrovia | Private | 2.9 billion; | 0.0148 billion | Tel: +231 770 733 009 | |
| Guaranty Trust Bank Liberia (GTBank) | Monrovia | Private | 327.4billion | 1.678billion | Tel: +231 770 881 438 | |
| Global Bank Liberia | Monrovia | Private | 4.33 billion | 0.022 billion | Tel: +231 77 020 0261 | |
| AccessBank Liberia | Monrovia | Private | 27 million | 0.138 million | Tel: +231 770 800 008 | |
| First International Bank (Liberia) Ltd | Monrovia | Private | 5 million | 0.025 million | Tel: +231 886 514 071 |
Conclusion
Liberia’s banking sector is a vital component of its economy, but it remains underdeveloped and faces numerous obstacles. Continued efforts to modernize the banking system, improve financial accessibility, and strengthen regulatory frameworks are essential for the sector’s growth and its contribution to Liberia’s broader economic stability and development.
