Citizens Bank to open branch in Berbice

An artist’s impression of what the New Amsterdam branch of Citizens Bank will look like

The town of New Amsterdam would have its own branch of Citizens Bank shortly, management told shareholders at Banks DIH’s Annual General Meeting (AGM) last Sunday.
Speaking at the company’s 18th AGM in Berbice, branch manager of the conglomerate Reginald Matthews said the new bank should be opened soon on a plot of land already being utilised by Banks DIH.
Matthews referred to the project as part of the expansion of the company. The new bank will be located where Banks DIH currently has its ‘Kiddies Play Park’. Banks DIH Chairman Clifford Reis said the project is expected to be completed within 15 to 18 months. The play park at Main and Kent streets is being relocated aback of ‘Qik Serv’ on the other side of the street. Reis noted that Citizens Bank, a subsidiary of the Banks DIH group, is to introduce mobile banking in another two months.
Turning his attention on the beverage operations, Matthews alluded to the fact that the company had a new fleet of trucks which were on display for shareholders. He outlined that among the new equipment to boost operations in Berbice, is a new forklift which works with propane. “We are not only making profits, but we are protecting our environment.”

Profits
While the company made a profit of Gy$3.672 billion in 2012, the Berbice operations made significant contributions to that figure. Matthews said the New Amsterdam ‘Qik Serv’ returned a record of Gy$90 million in sales, which is a 30 per cent increase over the previous year.
“Despite the increase of numerous restaurants in the town of New Amsterdam, our sales continue to increase.” The New Amsterdam ‘Qik Serv’ was presented with the Chairman’s Award, which is the highest award for outstanding and quality service to a restaurant operated by the company.
Meanwhile, export sales through Berbice generated revenue of Gy$22 million. The Berbice operations were also able to sell in excess of 1.4 million units last year, well over the target set by the board of directors.
Meanwhile, Chairman Clifford Reis in giving an overview of the company’s performance over the past year, said the equipment used by the company is modern and the technology employed is state-of-the-art.
The chairman said after tax profit was Gy$2.555 billion. “It took Banks DIH approximately 55 years to realise Gy$1 billion in profits. However, in the last three years, your company has moved its profits from Gy$1 billion to Gy$2.5 billion. It shows the commitment of this company to all concerned.”