Demerara Bank launches Visa card to celebrate 20th anniversary

Nov 21, 2014 News

Demerara Bank Limited is marking its 20th anniversary today.

Longstanding employees and senior staffers of Demerara Bank yesterday during the start of the 20th Anniversary celebrations.

According to Chief Executive Officer of the Bank, Pravinchandra Dave, the success of the financial institution would not have been possible without its customers, shareholders, and the general public. The executive is also lauding staffers, its Chairman, Dr. Yesu Persaud, its Board of Directors, management and staffers for their dedication and commitment.
Demerara Bank opened its doors to the general public on November 21, 1994 at their Head Office at Camp and South Streets, Georgetown. Since then it has spread to five other locations throughout the country.
According to Demerara Bank, it has performed remarkably well in all areas, showing a continuous growth in its profit for the last 20 years. As a matter of fact, its profits for the financial years ending September 30, saw the entity racking up a towering $2.5M in profits.
“The mission of the bank is to help build a stronger, healthier, more diverse business sector through prudent investment, attractive deposit plans and innovative lending policies. Our aim is to excel in providing innovative and superior banking services through well trained, dedicated and courteous staff in the interest of our customers and shareholders and to fulfill our social responsibilities to society through meaningful involvement in community development.”
In celebration of its 20th anniversary, the bank, in the coming weeks, will be launching its Visa credit cards.
“Demerara Bank is the only principal member of Visa in Guyana and we plan to pass on all benefits of this type of membership to our customers. We will also be the only bank in Guyana to have a Signature Visa Card. The bank is also hopeful to open its Corporate Office by 2015. We would also like to extend to you our valued customers and friends a warm and joyous season and a prosperous new year.”
The bank was the brainchild of Dr. Yesu Persaud, the Chairman of Demerara Distillers Limited, makers of the award-winning El Dorado rum.
The bank’s deposit base which was its highest at $45.6B as at September 30, registered a rise of 10 per cent when compared to 2013. Total loans and advances moved from $18.6B to $22.4B billion, showing a rise of 20.8 per cent over the previous year. The investments of the bank have remained constant at $20.8B.