Demerara Bank Limited (DBL) yesterday formally announced the retirement of its long-serving Chief Executive Officer (CEO) Pravinchandra Dave and the appointment of his successor Dowlat Parbhu.
In a release, DBL said that Dave is retiring as of December 31st, 2023. An international banker with a wealth of experience and expertise, DBL said that Dave joined the bank in July 2001, during a challenging period of transformation for the bank.
“With exceptional leadership, he successfully transformed a one-branch operation into a banking powerhouse with now nine branches countrywide. Under his astute guidance, the bank’s assets soared to G$159.59 billion, establishing itself as the best-managed bank in Guyana.
“Mr. Dave, an inspirational figure, played a pivotal role in recruiting, training, and grooming 98% of Demerara Bank’s dedicated staff. His unwavering commitment to integrity and transparency propelled the bank to become the second most profitable in Guyana, boasting zero Non-Performing Loans. In recognition of his outstanding contribution to banking services, Mr. Dave was honoured with the Golden Arrow of Achievement Award by the Government of Guyana in 2018”, the bank noted.
As he proceeds into retirement, the release said that Dave leaves behind a bank poised for future success, armed with a robust strategy for technological innovation and conceptual advancement.
“Demerara Bank Limit-ed expresses its deepest gratitude to Mr. Dave for his unwavering dedication, transformative leadership, and tireless efforts in making the bank an industry leader”, the bank said.
The bank also announced the appointment of Parbhu who it described as a seasoned professional with an illustrious career in the banking sector. Since joining Demerara Bank in December 2007, Parbhu has consistently demonstrated a remarkable track record and is well-prepared to uphold and advance the legacy of excellence set by his predecessor, Dave, DBL said.
