Republic Bank (Guyana) Limited’s new billion dollar Camp Street branch officially opened yesterday, signifying the most recent investment in the banking network.
The $1.3B investment was initiated as part of the bank’s vision to set the standard in local banking, and also its goal to accommodate customers and staff more comfortably.
President Bharrat Jagdeo yesterday unveiled the commemorative plaque at the bank prior to its official opening.
Prime Minister Samuel Hinds called the investment a “bold development step reflective of the bank’s interest in Guyana’s economic future,” adding that government’s decision to sell the bank to the Trinidadian based investors had not been misplaced.
Hinds said that Republic Bank’s integrity and its commitment to investment projects across the region underscored its role in the Caribbean Single Market and Economy (CSME). He noted too, that the recent investment had materialised at opportune time for Guyana when Carifesta had returned home and the country was able to show a building boom.
According to the Prime Minister the banking sector in Guyana is close to the front line of those in the developed countries. He said there was high liquidity in the country but there were entrepreneurs who called the banks conservative. Further, he stated that some banks had pointed to the lack of commitment to repay loans.
Chairman of the Board of Directors of Republic Bank, David Dulal-Whiteway said the new branch was “another vision realised.” He said that the idea was to fulfil customers’ needs and desires in a contemporary setting that combined to reflect the value the bank placed on staff, customers and its character as a pacesetter.
“I do believe today that we have achieved this objective. This is an impressive building by any standard locally, regionally or internationally. Within its walls, customers can expect an enhanced banking experience that is defined and bolstered by our friendly, courteous and knowledgeable staff,” Dulal-Whiteway stated.
The chairman said further that the external facade of the bank had transformed and uplifted the surrounding community, adding that its beauty aside, the calibre of the people who inhabited the new branch added character to it.
Dulal-Whiteway also underscored the role Republic Bank had played as a corporate citizen dating back to the British Guiana Bank in 1836.
Edwin Gooding, Managing Director of the bank remarked that the new facility demonstrated Republic Bank’s firm commitment to Guyana to provide the most efficient, convenient and consistently high quality service to its customers. He stated that the process had commenced in February 2007.
The new signature branch houses the merged businesses of the branches of the former Camp Street branch and another at Savage Street as well as the Commercial Credit Department which had been relocated from the bank’s main branch at Water Street. There is also the branch at Promenade Court.
