DEMERARA Bank Limited on Wednesday night launched their Visa Credit Card service during a cocktail reception at the Pegasus Hotel in celebration of their 20th anniversary.

In attendance, among others, were President Donald Ramotar and Minister of Finance, Dr. Ashni Singh, both of whom endorsed the launching.

In his remarks President Ramotar expressed congratulatory remarks to Demerara Bank as he highlighted their achievements.

He noted that the bank is a Guyanese institution which has evolved over time and has contributed to the growth of the local economy.

“Moreover, we have moved from an Indebted Poor Country to a middle income developing country and over the years we have seen growth with rapid growth in investments and businesses,” he said.

NEWER INFRASTRUCTURE
The President added that “we need now newer infrastructure to take us to the heights of the developed countries,” pointing to such projects as the Amaila Falls Hydro Project to achieve cheap energy.

President Ramotar said, “We also need a deep-water harbour, with the changes in the region in trade, the expansion of the Panama Canal will revolutionise maritime trade locally, and we need to put infrastructure in place because of our geographical location as a hub for such maritime trade for development locally.”

Demerara Bank, since they started 20 years ago, took banking to the next level and continues to grow, transforming Guyana as well in that sector.

MUCH TO CELEBRATE
Dr. Ashni Singh, the guest speaker, who delivered the feature address, told the gathering that in the launching of the Visa Classic and Visa Signature Credit Cards, there is much to celebrate since Demerara Bank has been an upstanding member of the Guyanese financial sector.

He added that if one is to look at the growth of the bank and its evolution, “we see successes since the bank was conceptualised and they went along to adapt with changes.”

The Finance Minister spoke of the growth of the bank, which took hard work and bold steps initiated by the management, in concerted and disciplined action to climb even higher in their achievements.

Dr. Singh congratulated the management and staff of the bank, its shareholders and customers for their economical growth and achievements on Wednesday night.

Chief Executive Officer, Pravinchandra Dave; Investment Officer, Jerrett Morgan; Chairman of the Board of Directors, Dr. Yesu Persaud; Sheila George, Director, and Amrita Henriques also spoke at the ceremony on Wednesday night.