Citizens Bank Guyana Inc yesterday commissioned its $225M Linden branch, and bank Chairman Clifford Reis said it would work to help residents and the community achieve their potential.
“The Board of Directors considers it both a privilege and an honour to be able to continue our relationship with the citizens of Linden in such a meaningful and tangible way,” said Reis, while noting that the facility’s establishment reflects the bank’s confidence in Linden’s future.
The new branch is the fulfilment of a three-year-old promise. Accord-ing to Reis, several have questioned the wisdom of establishing another commercial bank in Linden. “There are those who see the glass as half empty rather than half full when considering Linden and its future,” he noted. “We are not in the business of being pessimistic and optimism needs to be tempered with reality, [but] the potential of which we speak needs to be considered in the framework of a mechanism which needs to be put into place to enable that potential to be realised,” he explained.
Reis added that the opening of the branch is the bank’s way of showing Linden that it will work with residents as a catalyst to realise their vision for themselves and their respective communities.
He further noted that when one considers the future prospects for Linden, one may be tempted to oversimplify the challenges while contemplating the possibilities. However, he said that it is difficult not to be excited about the possibilities for Linden, given the right conditions and circumstances.
Finance Minister Dr Ashni Singh, who substituted for President Bharrat Jagdeo, delivered the feature address and commended the continued investments by banks in the development of Linden.
“…I am delighted to see the financial services sector recognising this commitment and responding to it,” Singh said, while noting the present administration’s commitment to seeing Linden transformed from a town that is totally dependent on the bauxite industry to one with a diversified economy. “We have already achieved gains in this regard… and we will continue to do this work so that Lindeners can rest assured that irrespective of global conditions, irrespective of the inevitable, eventual maturing of the bauxite industry, that growth and prosperity will continue to come to Linden,” he added.
Singh noted that all banks have responded appropriately to the enabling financial environment created by the government, while noting their profitability, and growth in assets and in lending.
Meanwhile, Managing Director of Citizens Bank, Eton Chester said the new branch fulfils its strategic objective of expanding its network to communities around Guyana to serve an expanding customer base. Since November 1994, new branches have been set up at Parika, Bartica, and Thirst Park.
“Like at our other locations, our new branch here will provide our customers with better access to our suite of products and services,” Chester said, while adding that the expansion is in keeping with the bank’s commitment to ensuring that all its products and services are within the reach of existing and potential clients.”
The branch will be providing the full range of products and services offered by Citizens Bank. The 16-member staff of the new facility comprises only Lindeners, with Lytton Thompson as the manager.
