AIMING to provide hassle-free services, Demerara Bank Limited (DBL) has plans to begin offering checklist, cashless, paperless and faceless banking.

This is according to the bank’s Chief Executive Officer (CEO) Pravinchandra Dave, who made brief remarks at the commissioning of DBL’s $485 million branch at Leonora, West Coast Demerara on Friday.

“We are a technological based bank. We want to improve the banking facility and we also want to promote easier access to banking to each and every one. For that, what we have to do, we are trying to have four things in line; we want to have a checklist banking, cashless banking, paperless banking and faceless banking,” Dave remarked.

Furthermore, he debunked the common misconception that banks are solely interested in making money and maintained that DBL wants to play a significant role in Guyana’s development.
“We want to work as a catalyst for development of the country, for development of our people, for development of our entrepreneurs,” the CEO said.

“Expansion of banking is one of the leading indicators of our growth. From just one bank, one branch… this is the ninth branch,” he boasted.
While reflecting on the obstacles that the bank faced when it initially opened, Dave lauded the progress that the institution has made.

“We are doubling the size of our assets every six years; we are doubling our profits every 4-5 years…” he said.
Meanwhile, in his feature address at the commissioning ceremony, President Dr. Irfaan Ali noted that the government has been creating an enabling environment for the local banking sector to expand.

Reflecting on statistics from 2018, the President said: “Banks do not become successful by themselves. It is the policy framework, it is the government, it is the fiscal planning and if you look at one indicator in September 2018, our non-preforming was almost 12 per cent; our non-performing loan now is just three per cent.”
He noted that DBL has positioned itself as a part of the collective whole that will advance the economy.

“I want to congratulate the board and management of this bank for their responsiveness to national development. Every time I throw an idea to the management of this bank, the first response is, ‘We’re coming over.’ And my policy is very open. Once it’s for development, the door is open,” President Ali said.

He further urged the bank’s management to continue advancements through innovation, reorientation and integration.

Turning his attention to integration, the president said: “With the modernisation of the financial sector, Guyana must become a major hub for financial services.”
Meanwhile, Senior Finance Minister Dr. Ashni Singh said Demerara Bank’s franchise has been on the forefront of private response to the government’s call in creating a booming economy for Guyana.

“You have partnered with this government on every major initiative, whether it be our low-income housing programme, whether it be our forestry revolving fund, whether it be encouraging you to roll out investments to bring banking services to communities that are underbanked,” Dr. Singh said, adding: “Demerara Bank has been at the forefront of the private sector response to the environment President Ali and his government are creating.”

Founded in 1992 and opened for business on November 12, 1994, DBL is the first indigenous private sector bank in Guyana.

At the moment, DBL has nine strategically placed branches around the nation, including a Corporate Office that serves the Bank’s corporate clientele. It also has nine ATM locations, and provides a comprehensive array of commercial banking services.