GEORGETOWN, Guyana – Guyana's only indigenous bank, Demerara Bank Limited, on Friday opened a branch at Leonora, West Coast Demerara and announced plans to significantly move to more e-banking options and reduce in-person transactions.
“We want to improve the banking facility and we also want to promote easier access to banking to everyone.
“For that, we are trying to have four things in line: we have to have a cheque-less banking, cashless banking, paperless banking and faceless banking,” said Chief Executive Officer Pravinchandra Dave.
According to Chairman Komal Samaroo, the bank is embarking on the utilisation of cutting-edge technology which will enhance customer experience in terms of speed, convenience and efficiency, thereby transforming the banking sector in Guyana.
The Leonora branch, which was constructed at a cost of $ GUY485M, includes a drive-thru ATM, night deposit facility and adequate parking.
In delivering remarks at the opening ceremony, Dave said the aim is to provide a banking service in every area across the country.
“Expansion of banking is one of our leading indicators of our growth. From just one branch, this is the ninth branch,” he said.
In keeping with the modern era, Dave said Demerara Bank Limited his now technology-based and the staff were “adequately” trained to ensure customers do not experience any difficulty during their transactions.
Demerara Bank Limited has been in existence for 29 years.
Meanwhile, Minister of Finance, Dr Ashni Singh, said investment in every sector in the country, Guyana is witnessing transformation at a speed that has “scarcely” been seen.
“There are a few place that illustrate the speed at which Guyana is being transformed.
“Leonora has emerged in the space of two and a half years to be a major center of economic activity and that didn’t happen by magic. It didn’t happen by accident. It didn’t happen by luck or by chance.
“It happened as a result of deliberate policy choices that were made, deliberate decisions that were made.”
According to Singh, the government commitment is to ensure they maintain the growth that is being recorded to ensure a “well regulated” financial sector that is conducive to growth.
“Demerara Bank has been at the forefront of the private sector response to environment that President Ali and his government are creating…The best of your growth are yet to come,” he noted.
