2 weeks Ago By Press Release
Monrovia – April 22, 2025: The Central Bank of Liberia (CBL) has reaffirmed the strength and stability of Liberia’s banking sector, dismissing recent media reports suggesting otherwise. According to the Bank, the sector continues to show strong performance, with sustained growth across key financial indicators from 2022 through the first quarter of 2025.In a statement released Tuesday, the CBL said the narrative analysis provided on pages 50 and 51 of its recently published 2024 Annual Report accurately reflects the resilience and consistent expansion of the banking sector.
Key Highlights:The Bank provided updated figures showcasing robust growth across major performance metrics. According to the CBL, total assets increased from L$206 billion in 2022 to L$293.7 billion in 2023, L$314.
4 billion in 2024, and surpassed L$340 billion in Q1 of 2025, while customer Deposits rose steadily from L$135 billion in 2022 to L$198.7 billion in 2023, L$228.77 billion in 2024, and L$251 billion in the first quarter of 2025.
It noted that commercial bank capital grew from L$31.44 billion in 2022 to L$38.97 billion in 2023, L$45.
15 billion in 2024, and L$47.6 billion in Q1 of 2025, while credit to the private Sector: Increased from L$76.22 billion in 2022 to L$91.
96 billion in 2023 and exceeded L$100 billion in 2024—representing over 95% of total credit issued by the sector.In addition, it added that net profitability rose sharply, with net income growing from L$4.2 billion in 2022 to L$6.
77 billion in 2023 and reaching L$10.6 billion in 2024.The CBL also highlighted that the liquidity ratio stands at 49.
29%, while the capital adequacy ratio is 33.8%—well above regulatory thresholds by 34.29 and 23.
8 percentage points respectively—demonstrating that the sector remains healthy, liquid, and well-capitalized to support inclusive medium-term economic growth.Clarification on Report DiscrepanciesMeanwhile, the CBL acknowledged discrepancies in the graphical data presentation found on page 10 and in Table 19 (Financial Soundness Indicators) on page 53 of the 2024 Annual Report. The Bank confirmed that key figures for 2022 and 2024 were inadvertently transposed in one of the graphs, creating a misleading impression of sectoral contraction.
“This labeling error does not reflect the actual financial performance of the banking industry,” the CBL stated. “We appreciate the vigilance of stakeholders who reviewed the report and flagged this issue.”The Bank assured the public that corrective measures are being implemented, including the publication of a revised graph on its official website.
It also pledged to enhance quality control procedures to prevent similar errors in future reports.Looking AheadDespite recent misinterpretations, the Central Bank remains confident in the financial soundness of the banking sector and its ability to contribute to national development.“The sustained growth trajectory is a testament to the sector’s resilience and the regulatory framework in place,” the Bank concluded.
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