GBTI’s 2022 profit tops $2.3B

THE Guyana Bank for Trade and Industry (GBTI) has announced an exceptional performance in 2022 with total assets of $175 billion, net income after tax of $2.3 billion and an exponential improvement in its asset quality.

According to a press release from GBTI, against the background of a rapidly expanding economy, loans grew by 33 per cent for the year to $65 billion, while deposits grew by 20 per cent to $148 billion.

Based on this performance, a dividend of $20 per share has been recommended, $12 of which has already been paid to shareholders. This dividend represents a 25 per cent increase over that of 2021.

“GBTI sees encouraging portents for continued positive growth in 2023. We anticipate a continuing growth trajectory and strengthening of our position in the local market,” CEO James Foster said.

Undoubtedly, a highlight of this performance is the transformative digital drive, through upgraded software, computer systems overall, and “Go- Banking” in the last quarter of 2022 without negative impact to its increasingly digital-savvy customers.

The upgrade process is ongoing, staff training is continuous, and clients are sharing expressions of support and greater confidence in the bank and Guyana’s economy, the bank said.

“GBTI’s competitive performance in 2022 was fuelled further by an empowered team conversant with, and committed to, achieving its strategic priorities,” GBTI related.

This year, GBTI is poised for continued growth and more regular engagement with stakeholders and the communities served country-wide.

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