| Demerara Bank Ltd has commissioned a spanking new edifice worth some $800M and covering an area of 25,000 sq feet. It is located at Lot 214 Camp Street,Fc Barcelona Tienda Espa?a, North Cummingsburg. This new branch will serve as the new Head Office and Corporate Banking Branch.The initiative was lauded by President David Granger. During his address at the ceremony he committed to a partnership with all financial systems to expand reach into vulnerable areas and groups. Granger admitted that vast areas of Guyana have no access to banking and to financial institutions.The ribbon cutting to usher in the new bankHe identified areas such as Mabaruma and Mahdia, the administrative centres of the Barima-Waini and Potaro-Siparuni Regions, respectively. He noted that these were two major gold and diamond-mining zones. Mabaruma is already at town but it has no banks.“Vulnerable groups,Cheap Stitched Jerseys, particularly in rural and hinterland communities are still excluded from basic financial services,” Granger said. “Small entrepreneurs are excluded from accessing credit because they lack the necessary capital and assets for collateral. A flexible financial system should be able to connect a larger number of citizens to banks.”“Increased access to banking services everywhere is an important goal of this government.” The President said. “(And) there is a special responsibility of those involved in financial intermediation to ensure greatest access to banking services for the greatest number.”“Access to savings accounts,Cheap Jerseys, according to the International Monetary Fund (IMF), has increased savings,Cheap NFL Jerseys, investment and consumption while access to credit has increased entrepreneurship and reduced poverty,” Granger noted, expounding on the importance of more financial institutions.The President made it pellucid that the financial services provided by commercial banks must become more inclusive if they are to contribute to these economic and social goals. The establishment of branches by commercial banks in un-served areas will allow for wider geographic coverage and greater access to services. It will bring banking to the people.”Chief Executive Officer of the Demerara Bank, Pravin Chandra Dave,Cheap NFL Jerseys Authentic, noted that all parameters of the bank — deposits, advances,Cheap Authentic Jerseys, dividends, investments, cross market, taxes–have been performing exceptionally well over the years.The bank has also been endowed with self sustaining capabilities including renewable energy, a move that both Granger and Minister of Finance Winston Jordan endorsed. Including these features is a part of the bank’s strategy to drive down costs.Demerara Bank Ltd has another branch on Camp Street, one in Anna Regina, Rose Hall, Diamond, Corriverton and Le Ressouvenir. |
