LBDI Denies Media Report On ‘Shutting Down’ Operations

Mr. John Davies, Chief Executive Officer of the Liberia Bank for Development (LBDI)

The Liberia Bank for Development and Investment (LBDI) has categorically denied yesterday media report a local daily, The In Profile Daily, of its intention to shut down operations as was being reported by the media.

In a press release issued yesterday, the bank clarified that it has no intention to shut down as was reported in the Monday, September 2, 2019 edition of the In Profile Daily newspaper Caption: “LBDI To Shut Down?”, which was also lifted on the www.gnnliberia,con online news outlet, based on speculation that the possibility of the bank shutting down was due to borrowers’s default on payments.

In its press release, the bank assured its customers, stakeholders, partners and the general public that despite the general economic challenges, it will continue to remain financially sound, and further assures the public that all of its branches across the country remain open for business.

Below is the full text of the press release issued by the bank in reaction to the report:

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About Cholo Brooks 13357 Articles
Joel Cholo Brooks is a Liberian journalist who previously worked for several international news outlets including the BBC African Service. He is the CEO of the Global News Network which publishes two local weeklies, The Star and The GNN-Liberia Newspapers. He is a member of the Press Union Of Liberia (PUL) since 1986, and several other international organizations of journalists, and is currently contributing to the South Africa Broadcasting Corporation as Liberia Correspondent.