–captures 38 per cent of lending within banking sector over past year
–records net-profit surge of 37 per cent to G$5.59B for fiscal period

IN a demonstration of financial strength and strategic foresight, Demerara Bank Limited (DBL) has announced a significant leap in its loan portfolio, soaring to G$95.36 billion and accounting for an impressive 38 per cent of the total lending within Guyana’s banking sector over the past year.
“This milestone comes alongside the bank’s continued commitment to sound credit management, as it proudly maintains a record of zero non-performing loans for the third consecutive year,” Demerara Bank said in a press release on Wednesday.
For the fiscal year ending September 30, 2024, DBL reported a robust 34 per cent increase in loans and advances, up from G$71.37 billion in 2023.

This, according to the bank, reflects its strategic diversification efforts across key sectors including agriculture, real estate, small and medium enterprises (SMEs), and services, all crucial for supporting the burgeoning Guyana economy.
“The bank’s proactive approach has not only driven its own growth, but has also played a pivotal role in bolstering the overall economic landscape of Guyana,” Demerara Bank said.
Highlights from the bank’s financial performance include a net-profit surge of 37 per cent, reaching G$5.59 billion compared to G$4.08 billion the previous year.

Earnings per share also saw a significant boost, climbing to G$12.42 from G$9.06 in 2023. Total deposits experienced a notable expansion as well, increasing by 25 per cent to G$174.56 billion, driven primarily by a 29 per cent rise in savings deposits.
The bank’s return on average assets improved to 3.1 per cent, surpassing the industry average of 2.11 per cent, while its capital-adequacy ratio rose to an impressive 23.53 per cent, well above both the industry average and regulatory benchmarks. This solid financial footing underscores Demerara Bank’s capacity for future growth and its commitment to sustainable banking practices.

Looking ahead, Demerara Bank is poised for continued success as it approaches its 30th anniversary. The institution is set to roll out a series of transformative technological advancements aimed at enhancing customer experience and further driving innovation within its operations.
“These upcoming initiatives align with the bank’s mission of economic empowerment and its dedication to providing modern, customer-focused financial solutions,” the bank said.
Chief Executive Officer (CEO), Dowlat Parbhu expressed pride in the bank’s achievements and gratitude towards his dedicated team, emphasising the importance of trust and transparency in building lasting relationships with customers.

“We have always aimed to build a bank that offers modern, customer-focused financial solutions, while adhering to the highest standards of trust, transparency and stability,” he said.
Chairman of the bank, Komal Samaroo, echoed these sentiments, attributing this year’s success to strategic foresight and unwavering dedication from the Demerara Bank team.

He remarked: “Our results this year reflect our ongoing commitment to excellence, innovation, and economic empowerment for the people of Guyana.”

The bank said: “With these impressive achievements, Demerara Bank Limited not only solidifies its position as a leader in the banking sector, but also reaffirms its commitment to fostering economic growth and development throughout Guyana.”