GBTI records $2.3B net income in 2022

Mar 24, 2023 News

Kaieteur News – The Guyana Bank for Trade and Industry (GBTI) has recorded a new income after tax of $2.3B for the year 2022, an exponential improvement in its asset quality, the bank said in a statement. The bank’s total assets for the year stood at $175B.

According to the statement, the bank revealed that against a background of a rapidly expanding economy, loans grew by 33 percent for the year to $65B, while deposits grew by 20 percent to $148B.

It was stated that based on this performance, a dividend of $20 per share has been recommended; $12 of which has already been paid to shareholders. This dividend represents a 25 percent increase over that of 2021.

“GBTI sees encouraging portents for continued positive growth in 2023. We anticipate a continuing growth trajectory and strengthening of our position in the local market”, says CEO James Foster.

The Guyana Bank for Trade and Industry (GBTI)

Undoubtedly, a highlight of this performance is the transformative digital drive, through upgraded software, computer systems overall, and “Go- Banking” in the last quarter of 2022 without negative impact to its increasingly digital-savvy, customers. The upgrade process is ongoing; staff training is continuous, and clients are sharing expressions of support and greater confidence in the bank and Guyana’s economy, the bank stated.

According to the statement, GBTI’s competitive performance in 2022 was fueled further by an empowered team conversant with, and committed to, achieving its strategic priorities.

As 2023 enters its second quarter, it was noted that GBTI is poised for continued growth and more regular engagement with stakeholders and the communities we serve, country-wide.

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2022, Assets, economy, Guyana Bank for Trade and Industry (GBTI), rapidly

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