MONROVIA, LIBERIA-The Central Bank of Liberia (CBL) says the banking sector is stable and profitable, despite recent negative media reports.
This performance, the CBL says, demonstrates sustained growth in the sector over recent years and the first quarter of 2025.
According to the CBL, the narrative analysis on pages 50 and 51 of the 2024 annual reports is accurate and highlights consistent growth and strengthening of key balance sheet indicators, which underscores the banking sector’s continued stability and resilience.
The CBL release says statistics show the progress the banking sector has made since 2022 up to the end of the first quarter of 2025, including a total asset increased from 206-billion Liberian dollars in 2022 to 293 billion LD in 2023, while 314-billion LD in 2024 and exceeded 340-billion LD in the first quarter of 2025.
The release said customer deposits rose steadily from 135 billion LD in 2022 to 198 billion LD in 2023, to 229 billion LD in 2024, and 251 billion LD in the first quarter of 2025.
According to the release, the private sector, key to economic growth, job creation, innovation, and revenue, also experienced steady credit growth, rising from more than 76 billion LD in 2022 to more than 91 billion LD in 2023 and 101 billion LD in 2024.
The Central Bank said this accounted for over 98 percent of the banking sector’s credit portfolio.
