– for first half of financial year 2014

FOR the first half of the year ended March 31, 2014, Demerara Bank Limited (DBL) recorded an after-tax profit of $760.6M, representing a 32% increase over the figure for the similar period in the previous year, when the bank recorded $577.6M in after-tax profit.DBL further increased its total net assets to $49.5B from $45.7B recorded in the previous year; and loans & advances were significantly improved to $19.7B in March, 2014 from $16.0B in March, 2013, reflecting a rise of 23%.

Investments also increased in the first half of the year from $18.1B to $19.1B, and the Bank’s deposit base has been substantially increased from $38.3B to $40.4B.

Consequent upon this demonstration of exemplary financial management, shareholders’ earnings per share (annualized) for the first half of the year increased by 31.5% to $3.38 per share.

Demerara Bank Limited officially opened its doors in 1994 as Guyana’s first indigenous commercial bank, and has seen these promising developments of 2014 come at a most opportune time, since that financial institution would be commemorating twenty (20) continuous years of providing exemplary service and great fortitude to its customers.

Bank officials say the DBL has expanded its services throughout the country with a network of six branches, and will continue its expansion efforts which, by early 2015, will include a spacious head office.

Management of DBL credits whatever successes were achieved for the first half of the year 2014 to the commitment of the Bank’s staff, which remains a major asset to the operations of that institution.

The Bank reaffirms its commitment to ensuring that it provides its staff with quality training, which will reflect in the Bank’s progression.