The Guyana Bank for Trade and Industry (GBTI) in keeping with its name on Saturday opened its second branch in East Berbice and 12th overall in the country. Addressing the occasion, GBTI Chief Executive Officer John Tracy, said the location is strategic, pointing out that it is next to a market.
He said the new branch will have a different business approach compared to the other banks in Berbice.
“We will be bringing to you the latest technical products and services, and in so doing, the bank will be opened on Saturday so you can come and do your banking on Saturdays. However, we will still have what is called conservative banking, which allows you to do banking and not come to the bank at all.”
GBTI Chairman Robin Stoby explained that GBTI is now focusing on renting buildings to establish branches and not investing millions on developing real estate.
The bank spent some Gy$ 50 million to convert the building housing the new branch, and Stoby said the facility will focus on the housing sector and microenterprise development, among other things.
“The family-owned businesses are traditional in Guyana and have a great part to play in the lives of people in the community. In this regard, apart from the financing that we make available, we have conducted business workshops at all of our locations in which we discuss with customers issues such as record keeping, preparation of financial statements, cash management and banking; we make the business of the business workshop an annual activity and we intend to do so at this location.”
Finance Minister, Dr Ashni Singh said the new branch is a signal that GBTI is responding to emerging opportunities, and reflects the bank’s confidence in the local economy.
“The financial sector is a good barometer… to growth of an economy. When one sees growth in the financial sector, one will be correct in concluding that the economy is growing and prospering,” he said.
The minister called on business persons to utilise modern banking services to carry out transactions rather than moving around with large sums of cash.
“If entrepreneurs utilise some of the services which banks, including GBTI are offering then they can prevent some of the robberies which we read about in the newspapers.”
The minister also lauded GBTI, which will soon introduce the switch, a system that allows persons to use their banking cards at an ATM, irrespective of which bank they have an account.
