Amidst the high risk and high cost associated with doing business in Liberia, the Management of Ecobank Liberia Limited (ELL) has released a partial report showing impressive growth over the period.

The Bank’s Managing Director, Mr. Kola Adeleke, told reporters in Monrovia that Ecobank’s total assets have grown to US$320 million, up from below US$300 million last year. Total new shareholders’ capital amounts to US$30 million, while the bank’s total deposit base has grown to over US$250 million. According to Mr. Adeleke, the bank’s owners have also brought in over US$17 million equity capital demonstrating their preparedness to remain, and the bank has also acquired over US$6 million long term debt; US$3 million of which is committed into equity.

“This shows commitment from the Liberian owners of ELL,” Adeleke added. Ecobank Liberia’s total assets however constitute about 2 percent of Ecobank Group’s total assets which is to the tune of over US$17 billion dollars. The Daily Observer