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Demerara Bank leading credit growth, achieves zero non-performing loans – CEO
Chief Executive Officer (CEO) of Demerara Bank Limited (DBL) Dowlat Parbhu (Demerara Bank leading)
Kaieteur News- Chief Executive Officer (CEO) of Demerara Bank Limited (DBL), Dowlat Parbhu, announced that the bank is at the forefront of credit growth in Guyana, particularly in serving the private sector’s financial needs.
Speaking at an event on Tuesday under the theme “Banking Made Easier,” Parbhu highlighted DBL’s achievements and reaffirmed its commitment to enhancing accessibility for all Guyanese. “Being a Guyanese bank, and from its inception, our drive was to always find ways to make banking easier and not just easier but also accessible for all Guyanese,” he stated.
Parbhu reflected on the challenges faced two decades ago when larger banks operating in Guyana failed to address the genuine banking needs of the local population and the demands of the economy. Today, he emphasised, DBL has not only bridged those gaps but has also established itself as a leader in credit growth, driving significant development across the country.
“Our lending increased over the last 12 months by 34%, a growth of $24 billion, the highest in our history and the industry. This lending contributed to 38% of total lending done by the banking system over the last 12 months,” the bank’s CEO.
He noted that the lending done by all six commercial banks in Guyana for the last 12 months was $64 billion, with DBL attributing for $24 billion of that amount which is 38% of total lending done by the banking system. “Basically, DBL’s expansion of credit outpaced all the banks in Guyana, including the largest bank, by not only percentage but by value,” Parbhu added.
Some key statistics disclosed by the CEO for the last financial year ending September 2024, includes DBL reaching the status of being the second largest lender in Guyana.
He noted, “DBL has the second largest capital base in Guyana, essentially we can lend in terms of lending limits now for a Group $11 billion, and Single Company $6.9 billion…This is phenomenal growth.”
Parbhu also said that DBL has the lowest average lending rate in Guyana and the best return on assets in the country, with the average return within banking sector being 2.10% while DBL is 3.10%.
He outlined, “DBL has the best capital adequacy ratio in Guyana of 23.53% against industry of 18%, this speaks about the quality of assets against capital and the strength of the bank against its peers.”
To this end, Parbhu stated that DBL is the only bank in Guyana with zero non-performing loans.
“We can say, because DBL may not be lending, they can achieve zero non-performing, but the reality is that we have increased lending by 34% over the last 12 months and by 137.5% over the last five years,” he added.
Parbhu underscored that the bank’s rapid growth over the past five years, with lending increasing by 137.5%, far outpacing the 57.5% growth recorded by the other five commercial banks.
He added, “DBL has been championing the lending over the last 5 years.”
The CEO noted that DBL’s success comes despite its position as the youngest commercial bank in Guyana. “There figures have to also be taken into context that DBL is the youngest bank in Guyana, others have been operating more than 75 years in Guyana in addition to competing with International and Regional banks and despite this DBL has grown to this level that we are leading the charge of the day and by doing so making a significant contribution to the Guyanese economy.”
(Demerara Bank leading credit growth, achieves zero non-performing loans – CEO)
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