The Guyana Bank for Trade and Industry (GBTI) officially opened its Grove/Diamond, East Bank Demerara branch yesterday afternoon.
Minister of Finance Dr Ashni Singh was present at the opening ceremony and honoured the new institution by cutting the ribbons thereby declaring the Grove/Diamond branch officially opened.
Singh congratulated GBTI and noted that this new branch has been established a mere 20 months after the Providence Branch. He further commended the bank’s choice of location since the Grove/Diamond area is one of the fasting developing areas in Guyana.
Over 6,000 house lots, the minister said, were distributed to people from all parts of Guyana; therefore, the area has major room for economical and residential development. Singh stated that the branch will reduce the cost of accessing the service.
The branch commences its operations next Monday and will be managed by Rawattie Mohandeo and her staff. During her opening remarks at the ceremony yesterday she encouraged all residents of the area to utilize the bank’s services and added that the new branch will enable persons who have no banking experience to become a part of the financial mainstream.
In a press release GBTI had stated that the new branch “represents an ongoing commitment by the bank to provide banking services to our communities thereby enhancing the welfare of the residents”.
Chief Executive Officer of GBTI, Radhakrishna Sharma, said that this second phase of the bank’s expansion programme began in three years ago. The first phase, he said, was conducted during 1995-2000.
Sharma said that it was the realization that the East Bank Demerara is a steadily growing area with new schools, health facilities and large housing schemes that prompted the GBTI’s decision establish the various branches.