–continues to partner with both local and foreign investors

DESPITE the effects of ‘COVID’ in 2021, the Guyana Bank for Trade & Industry Limited (GBTI) continued as a leader in the financial industry, recording a $1.7B profit after tax.
According to GBTI Public Relations and Marketing Manager Pamela Binda, much of the bank’s success is as a result of support given to its customers, and value being placed on its employees.

“There was a significant increase in the asset quality of the bank, much of which is attributed to the dedication and diligence of our team members,” Chief Executive Officer (CEO) James Foster said.
The bank noted that its portfolio saw improvements in its assets, which grew by 12 per cent. A profit growth of 28 per cent after tax was recorded, while an increased deposit growth of 12 per cent was realised.

“The bank’s loan portfolio grew by 20 per cent, while noting an improvement of the Net NPL to below 10 per cent,” the bank stated.
Foster also noted the success of the GBTI Mutual Funds, which, in less than three years of existence, recorded a profit growth of $207M.

GBTI Mutual Funds offers investors a suite of alternative investment opportunities.
“Working as a team is key to GBTI’s successes. We seek to grow our customers’ businesses, improve the lives of our team members, and make meaningful contributions to our communities,” the CEO said.

The bank, being cognisant of the effects of ‘COVID’, stated that it supported communities and clients with reduced or eliminated fees, granted loan moratoriums, and reduced interest rates.

“Team members incurred no loss of income, in addition, accessed vaccination drives which saw in excess of 95 per cent of the team being vaccinated. Importantly, our team members continued to support our communities and our clients, despite the challenges of the pandemic. Also, during this period, the bank invested heavily in technology to ensure we meet the burgeoning expectations of our clients,” GBTI noted.

The bank said it is a key partner to many business development initiatives in Guyana.

“We understand and embrace the changing landscape of our country, and believe these changes are necessary for Guyana to fully exploit its potential,” GBTI stated.