The Liberian Bank for Development and Investment or LBDI has climaxed celebration marking its 50th anniversary with Honoring and Gala reception for chairpersons, past and current presidents of the bank.
The ceremony, which was held Friday, November 27 at the Executive Pavilion in Monrovia, brought together several dignitaries, including President Ellen Johnson-Sirleaf, and officials of her government, former board chairpersons and presidents of LBDI; the Executive Governor of the Central Bank of Liberia, Dr. Mills Jones, executives of other commercial banks, and the business community.
Liberia’s Minister of Finance and Development Planning, Amara Konneh, who is current chairman of the LBID, on behalf of the Board of Directors and Management Team of the bank thanked valued customers of the bank for their support over the past fifty years.
According to Mr. Konneh, the journey has been challenging, but the bank surmounted the odds. “We can now look back and rejoice and thank God for making it thus far. We are celebrating 50 long years of trust to deliver efficient services and we are holding onto that trust and confidence to meet your expectations”, he said.
Konneh said LBDI has grown in size and network and worked to bring banking closer to customers in 17 locations and five points of sale through its branch expansion program, adding, “This is a true partnership which we must continue to cherish.”
He said the bank will continue to strategically focus on providing the needed financial services to engender development as well as continue to collaborate with the Government of Liberia and other partners in meeting its corporate mandate.
“We are committed to providing support to infrastructure, agriculture, housing, hospitality and other vital service sectors of our economy; which will provide jobs and livelihood for our people.”
LBDI current president, John B. S. Davies, lll, congratulated shareholders, valued customers, members of the Board of Directors, depositors, benefactors and those whose efforts have culminated into the observance of the bank’s jubilee as the nation’s Premium Development and Finance Bank.
Mr. Davies expressed delight that the journey of the bank’s existence which started with the Government of Liberia and the International Finance Corporation, and eventually consummated with an act of Legislature in 1961, has had an important impact on the development of its history.
“Over the years, LBDI has distinguished itself in the sector and has maintained an enviable record of commitment to customer service, prudent financial management, sound corporate governance and operational transparency and accountability”, noting that these strives have growth and profitability.
In special remarks, President Ellen Johnson-Sirleaf challenged the LBDI family to continue to be good, strong and tohelp develop Liberia’s economy for it citizens. According to the President, the bank is doing well for the people of Liberia, especially its home mortgage program, support to small and medium size businesses;support to the rubber industry through the Rubber Planters Associationand, sometime with support from the Central Bank of Liberia (CBL).
“We are proud of LBDI, especially the partnership the government hasreceived from them, not that they have a choice or option, but theywere particularly helpful to our people when we faced the deadly EbolaVirus, and the support they gave to them,’’ she said.
President Sirleafrecognized the efforts of Governor Mills Jones, who has made a tremendous difference in the ability of financial institutions and interventions made in achieving those results.
“I always told people that the nation that is proud of itself, is alwaysproud of its people and can stand the test of time;therefore, I hope that each of us here tonight recognize the effortsof LBDI”,President Sirleaf added.
She also encouraged the LBID president and his staff to continue to meet the country’s aspirations, including its development goals as well as pursue more success stories.
By C. Brown Dennis-Edited by Jonathan Browne