Global Bank Liberia Expands International Presence

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Global Bank Liberia is expanding its international presence, and it's exciting to see how this will impact the local community. The bank has been working hard to establish a strong reputation in Liberia, and now it's time to take it to the next level.

With a growing customer base and increasing demand for international banking services, Global Bank Liberia is well-positioned to expand its presence globally. This expansion will not only bring in new revenue streams but also create more job opportunities for locals.

The bank's commitment to providing high-quality banking services has earned it a loyal customer base in Liberia. As it expands internationally, it's likely to attract new customers who value its reputation for reliability and expertise.

Ownership and Management

Global Bank Liberia Limited is owned by Oakwood Africa Investments Limited through its sub-holding company, Oakwood Holdings Liberia Limited.

The bank's new Managing Director, Mr. Lekan Balogun, brings over 25 years of experience in the banking industry to his role.

Mr. Balogun has a proven track record of success in corporate banking, commercial and retail banking, treasury, trade, and branch operations.

Ownership

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Credit: pexels.com, A contemporary city skyline featuring tall buildings and a prominent bank at dusk.

Global Bank Liberia Limited is a 100% subsidiary of Keystone Bank Limited, a large financial services provider based in Nigeria.

Keystone Bank Limited has subsidiaries in several countries, including Gambia, Liberia, Sierra Leone, and Uganda.

New Managing Director Appointed

Global Bank Liberia Limited has recently appointed a new Managing Director, Mr. Lekan Balogun, who brings over 25 years of experience in the banking industry.

He has a wealth of expertise in corporate banking, commercial and retail banking, treasury, trade, and branch operations.

Mr. Balogun has worked in similar roles in reputable financial institutions across West Africa, including Liberia.

He is confident that he can lead the bank into its next phase of growth and success, leveraging the right mix of capital and technology to deliver personalized, last-mile digital financial services for the people of Liberia.

Mr. Balogun's appointment follows the formal acquisition of the bank by Oakwood Africa Investments Limited through its sub-holding company, Oakwood Holdings Liberia Limited.

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Credit: pexels.com, A building with a large sign that says bank of america

The acquisition marks a new direction for the bank, and Mr. Balogun is poised to lead it towards transformation and growth.

He is honored to join Global Bank Liberia Limited and looks forward to working with the talented team there.

Mr. Balogun's vision is to deliver service innovation and excellence at all touch points, ensuring that the bank fully supports the central bank in its financial inclusion drive.

The bank is committed to being at the forefront of service innovation and is eager to continue its journey from seedling to bloom as it strives to become one of the leading banks in Liberia.

Oakwood Africa Takes Over

Oakwood Africa Investment Limited has taken 100 percent equity ownership of Global Bank Liberia Limited (GBLL) after the Central Bank of Liberia approved the divestment from Keystone Bank, Nigeria.

The takeover by Oakwood Africa Investment Limited was the result of a comprehensive due diligence and evaluation of the company's application.

Exterior of modern bank building with arched passages
Credit: pexels.com, Exterior of modern bank building with arched passages

Oakwood Africa Investment Limited is a financial services firm registered and licensed in Ghana.

It owns Bloom Bank Africa The Gambia Limited and holds majority shares in Keystone Bank Sierra Leone, previously owned by Keystone Bank Nigeria.

The company plans to mobilize and infuse fresh financial resources into GBLL and introduce innovative digital products and services to promote financial inclusion, especially for women and the unbanked.

The Central Bank of Liberia is confident that the takeover will bring new dynamism to the banking sector and respond to the needs and demands of customers.

International Services

Global Bank Liberia offers international services that cater to the diverse needs of its global clients. With its extensive network of correspondent banks, clients can make transactions in over 200 countries worldwide.

One of the key services is the international money transfer, which allows clients to send and receive funds across borders quickly and efficiently. This is made possible through partnerships with major international banks and financial institutions.

The bank also offers online banking services, enabling clients to manage their international accounts and transactions from anywhere in the world. This includes real-time account updates, transaction history, and secure online payments.

Branch Network

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Credit: pexels.com, A vibrant red piggy bank against a minimalist and contrasting studio background, ideal for finance themes.

Global Bank Liberia has a strong presence in the country, with a well-structured branch network that makes it easy to access their services.

As of September 2013, the bank had six branches strategically located across different parts of Monrovia and surrounding areas.

The Main Branch is situated on 5th Street in Sinkor, Monrovia, making it a convenient location for customers in the central business district.

Another branch is located on Ashmun Street in Monrovia, serving the local community.

The Redlight Branch is situated at the bustling Redlight Market in Paynesville, catering to the needs of customers in the surrounding area.

The Clara Town Branch is located in Clara Town, Monrovia, providing easy access to the bank's services for residents.

The Buchanan Branch is situated on Tubman Street in Buchanan, serving the local community.

The sixth branch is located at an unspecified address, which is noted as Branch Number 6.

Here is a list of the bank's branches:

  1. Main Branch - 5th Street, Sinkor, Monrovia
  2. Ashmun Branch - Ashmun Street, Monrovia
  3. Redlight Branch - Redlight Market, Paynesville
  4. Clara Town Branch - Clara Town, Monrovia
  5. Buchanan Branch - Tubman Street Buchanan
  6. Branch Number 6

Downside of International Transfers

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Credit: pexels.com, Close view of the United States National Bank building with classic columns and architecture.

Using your bank for international transfers can be a costly mistake. You might lose out on a bad exchange rate and pay hidden fees as a result.

Banks still use an old system to exchange money, which can lead to unfavorable exchange rates and extra charges. This is especially true for international transfers.

Wise (formerly TransferWise) is a great alternative to consider. With their smart technology, you can get a great exchange rate and a low, upfront fee every time.

Here are some benefits of using Wise for international transfers:

  • You get a great exchange rate and a low, upfront fee every time.
  • You move your money as fast as the banks, and often faster – some currencies go through in minutes.
  • Your money is protected with bank-level security.
  • You join over 2 million customers who transfer in 47 currencies across 70 countries.

Some banks that use the old system include K&H Bank, Desjardins Group, and National Bank of Canada.

Frequently Asked Questions

Which banks are owned by Nigerians in Liberia?

In Liberia, the following banks have Nigerian ownership: Ecobank Liberia Limited, United Bank for Africa Liberia Limited, Access Bank Liberia, and Guaranty Trust Bank Liberia. These banks are among the notable financial institutions with Nigerian ties in the country.

Elena Feeney-Jacobs

Junior Writer

Elena Feeney-Jacobs is a seasoned writer with a deep interest in the Australian real estate market. Her insightful articles have shed light on the operations of major real estate companies and investment trusts, providing readers with a comprehensive understanding of the industry. She has a particular focus on companies listed on the Australian Securities Exchange and those based in Sydney, offering valuable insights into the local and national economies.

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