EVERY Guyanese is no doubt familiar with the name Banks DIH (LTD) for its excellent products.

But for approximately the past six years or so, “Banks” has also been collaborating with other companies to promote a new line of products.

The Pepperpot Magazine spoke with the Diazo Spirits Brand Manager Justin Stoby, who explained the new product line at an official launch on Thursday, December 23, 2021.

“Diazo, is the parent company for brands such as Guinness, Hop House 13. They have recently acquired their spirits line; these include products such as Johnny Walker Black, all the Johnny Walker labels, Ciroc Vodka, Smirnoff Vodka and Bailey’s; so those brands we have in partnership with Diazo,” Stoby told the Pepperpot Magazine.

Diazo, as described by Stoby, is the biggest spirits brand company in the world, and as time progresses, the company will be introducing more spirits brands to the market.

Additionally, Diazo has been engaging the average man in terms of engaging in corporate responsibilities, which is inclusive of training of staff to handle and market the product.

What’s new for 2022
The Brand Manager confirmed that the general public can expect new products for the new year, which will include more alcoholic beverages and other products inclusive of the “Midwest Biscuits” and a new line of XM Rum.

“Innovation is key. We are looking into different avenues come 2022. The way we get to the consumer, we are trying to leverage our social media platform. It is against this backdrop that we can easily engage the population due to the advent of technological devices,” Stoby told the Pepperpot Magazine.

Stoby, also spoke to the fact that Banks DIH has managed to overcome its fair share of challenges during the challenging global pandemic, even though it was extremely difficult.

“Distribution issues, because staff had to be staggered because of the COVID restrictions. You know basically we had to change up our whole marketing strategy. We tried to focus more on doing some in-store activities, rather than going to the bars and stuff. Bars were closed, so we had no other alternative, so we had to think outside the box,” Stoby noted during his interview.

He noted during his interview that the distinction of Banks DIH from other manufacturing and beverage companies is its quality as it relates to its products.
“In terms of quality, we know that you get the best quality. Most of our plans are ISO certified, which means that you are guaranteed of getting the best quality products. So Banks DIH is always known for quality,” Stoby told the Pepperpot Magazine.

According to a recent article published by the Guyana Chronicle, dated July 19, 2021.

“Banks DIH continues to increase its local presence through its growing profit margins over the years. In 2020, the company surmounted the difficulties presented by the global pandemic, ending the 2020 financial year with an after-tax profit of $5.27 billion.

According to its 2020 annual report, the company generated $30.46 billion in revenues. This was an increase of $871 million, or 2.9 per cent more than the $29.59 billion recorded in 2019.

Revenue is that total amount of income generated through the sale of food and beverage manufactured by the group, as part of its operations. The profits, however, were garnered from taking away all expenses, including taxes.

Banks’ profit after tax for 2020 was $5.271 billion. This was an additional $747 million, or 16.5 per cent, when calculated against the $4.524 billion in after-tax profit recorded in 2019.

In 2020, Directors of Banks DIH Ltd., in responding to Guyana’s new reality, commenced discussions with the manufacturers of a brand of motorcycle, which the company hopes to import and sell.

The company, while remaining silent about the manufacturers being engaged, hinted that the model of motorcycles is considered to be more attractive and cost-effective than those on the market.”