Demerara Bank is here to stay

Oct 19, 2018 News

– Dr. Yesu Persaud at commissioning of E’bo branch

Chairman of the Demerara Bank Board, Mr. Yesu Persaud, yesterday told customers on the Essequibo Coast that the ‘Demerara Bank is here for today, and for the future.’
Persaud was at the time delivering his feature address at the commissioning of the bank’s eighth branch, which is now located in Anna Regina on the Essequibo Coast.
Among the invitees at the commissioning of the spanking new building, was Chief Executive Officer of the Bank, Pravinchandra Dave; Region Two Executive Officer, Rupert Hopkinson; and Chairman of the Demerara Distillers Limited, Komal Samaroo CCH.

Founder of the Demerara Bank, Dr. Yesu Persaud (extreme left) cutting the ribbon to the new building.

Chief Executive Officer Pravinchandra Dave told customers yesterday that it was an absolute privilege to establish a branch which will serve in the interest of the people of Region Two. Dave explained that in May 2009, a branch was opened on the Essequibo Coast. On the basis of a number of issues, he added, the branch had to be relocated to a better location.
“This is an ideal area and we feel privileged to serve the people of Essequibo. Essequibo is of particular interest because of its rice farming community…We know that if we help the rice farmers it will help the people and the country economically.”
The REO, Mr. Rupert Hopkinson, who also addressed the commissioning ceremony, yesterday, said that the expansion is being done at an opportune time; when the region is moving ahead with its tourism.
Hopkinson also encouraged the bank to look out for the region’s entrepreneurs, since he believes that they are the key to future development within the Pomeroon/Supenaam region.

The newly commissioned Demerara Bank, Essequibo branch, Anna Regina

The founder of Demerara Bank, Dr. Yesu Persaud, who also reached age 90 yesterday, urged Essequibians to invest in his bank; particularly as it relates to buying shares. Persaud said that for a bank that was established just 24 years ago, there seems to be excellent progress thus far.
Commenting on the bank’s initial progress from the time of establishment, he said, “We saw the need for an additional bank in this country…All the banks have been started by foreigners. Rarely do banks make a profit in the first year, Demerara Bank, however, made a nice little profit in the first year and the second year was even better.”
Dr. Persaud, a national awardee, said that he is confident in his banking system. “Demerara Bank has topped every top figure known. When we read the reports of 2018 you would see that we would have had an exceedingly good year.
“The reason for that is planning, looking for opportunities where they exist and we have exceeded beyond our wildest dreams. So Demerara bank is not only here for today but also here for tomorrow and way into the future.” [Romario Blair]

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