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Citizens Bank Shows Increase In Profit Margin

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Citizens Bank Guyana has recorded a 534.6 Million Dollar after tax profit which is an increase compared to the previous year. During the 16th Annual General meeting shareholders were informed of the bank’s recent success.

Chairman, Clifford Reis said the performance of the bank is noteworthy given the global economic downturn and the moderate growth experienced in the local economy during the year in review.

Reis pointed out that during 2011 focus will be placed on building strengths and addressing areas of operations that require improvements. The bank is also getting ready to do some expansion.

The annual report stated that the bank’s shares were traded on the local stock exchange at an average price of 45 dollars per share up from 18 dollars.

The board of director’s during the annual meeting assured share holders that emphasis will be placed on human resources as this is critical to the bank’s success. With this in mind, five employees were presented with a token for their years of service to the bank.

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