…to help spur investment in agriculture in region
By Indra Natram
Chief Executive Officer of Demerara Bank, Mr. Pravinchandra Dave on Thursday declared that the financial institution is the best performing bank in Guyana in terms of profit, network and paying taxes to the government. He was at the time addressing a gathering at a grand opening of a newly relocated Essequibo Branch at Henrietta in the Pomeroon-Supenaam Region.
During his address he said the bank started serving Essequibians in May 2009 at Cotton Field village but that location was insufficient to serve customers. On that note he told the gathering of special invitees, members of the business community, staffers, school children and regional officials that the bank had opt to acquire a new location to better serve its customers. The location, which is located in the town of Anna Regina, will provide a more spacious and comfortable environment for those accessing the services. “The arrangement of the previous location was not sufficient, there were some security issues, we were getting some complaints from the business people and we decided to locate our branch in a better place and I hope we will be able to serve the people of Essequibo better,” the bank’s CEO said. The CEO further boasted that Demerara Bank is the leading lenders to the agriculture industry particularly rice farming and for that reason it has special linkage to Essequibo since it is an agriculture- based region. “We think in Demerara Bank, that agriculture is the main development in Guyana, agriculture is the most productive sector of the economy and if we help the rice farmers rise then it will help the country economy and the people at large” Dave said.
Speaking on the Essequibo Branch’s performance, the CEO said the branch has progressed well and therefore urged more businesses and customers to invest.
Fully Solar
Under the vision of “Practicing energy conservation for the future generation” the CEO announced that the branch is fully powered by solar. “We are a very innovative bank, the banks at Camp Street, Georgetown and Diamond, East Bank Demerara, are fully solar and that’s the difference between other banks and Demerara Bank. I can promise you we should be able to give not only clean energy but clean and efficient services” Dave said.
Chairman and founder of Demerara Bank, Dr. Yesu Persaud, during his address, said that Essequibo branch is the eighth branch for the bank since its establishment 24 years ago in Guyana. He said since establishment, the bank has seen tremendous progress and has been moving very fast. “We have had an exceedingly good year; when you read the results of 2018 you will see what I am saying and the reasons for that is looking for opportunities where they exist and go after them and we have succeeded beyond our wildest dream… so Demerara Bank is not only here for today but here for tomorrow and way in the future” Dr. Yesu Persaud said.
Dr. Persaud mentioned that the Bank is very confident in what it does and attested that is the reason why the bank has grown so much in the last 24 years and assured customers that once they invest it will be a wise choice. “Banks don’t make profit in their first year but Demerara Bank made a nice little profit the first year, we didn’t make dividends but I can tell you from the second to the seventh year we started to progress and currently is successful, this bank is here to stay,” the founder and chairman explained.
Regional Executive Officer, Rupert Hopkinson commended the bank’s efforts for the new location in the Pomeroon-Supenaam region. He therefore congratulated the banks board of directors and management on behalf of the Region Two administration, for the convenient banking services and for having confidence in the region’s economy. Hopkinson said the capital investment made by the bank will aid in the various developments in the region especially towards in the business and tourism sectors. Attending the opening of the newly relocated Essequibo Branch of the Demerara Bank was also Director of the bank and Chairman of DDL Mr. Komal Samaroo and Director of Demerara Bank, Garfield Wiltshire. At the end of the formal part of the programme there was a ceremonial ribbon and cake cutting exercise after which persons were given the opportunity to tour the bank. The occasion was blessed by religious leaders from the various faiths.
At the ceremony also Dr. Persaud, who is celebrating his 90th birth anniversary was honoured by the bank. He was treated to a cake which he shared with a customer of the Essequibo branch. He was highly praised for his efforts and achievements in the bank’s development. Dave hailed Persaud as a visionary who has contributed towards change in Guyana’s economy. “The contribution of Dr. Yesu Persaud is really unique why I say so, a person can be wealthy, happy and rich but still cannot make a difference in others life but a person who can make a difference in the life of others is very important and Dr. Persaud is one who has made significant difference in the life of so many segments of society, socially, politically and economically, what he has done for the people of Guyana will be remembered” the CEO said.
The CEO told the Essequibo gathering that Dr. Persaud has established many businesses in Guyana starting from DDL, IPED, Demerara Bank and has taken the first step towards their establishment. Singling out IPED he said that the organisation, since its formation, has managed to give many persons jobs and loans. He also recognised Dr. Persaud’s contribution towards politics. It was mentioned that Dr. Persaud was very instrumental in promoting free and fair elections in 1992. He was also very instrumental in building the Indian Commemorations Trust in Guyana, bringing Indians together under one umbrella. Samaroo for his part said that he knew Dr. Yesu Persaud for 42 years now and they shared a very good working relationship. Samaroo described Dr. Persaud as a humble person and said despite growing up in a “logie” environment, he still managed to become successful.
