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Demerara Bank Commissions New Branch At Diamond

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With the expansion of businesses on the East Bank of Demerara, it is believed that this can foster economic growth. This sentiment was again reiterated by President Bharrat Jagdeo on Monday at the commissioning of yet another bank at diamond on the East Bank – the Demerara Bank Limited.

The Spanking new building which stands in close proximity to two other banks boasts all the modern banking conveniences and was built to the tune of $460M.

President Jagdeo in giving the feature address expressed his pleasure with the rate the local banking sector is progressing and noted that with the upsurge of business activities especially in the Diamond area, the people stand to benefit.

And during his recollection of the bank’s history, Chairman Yesu Persaud stated that despite several challenges, the bank has moved from strength to strength over the years. He believes that the construction of the diamond branch is just the beginning of a transformational process.

Persaud said that the services offered by the new bank will be two folded since it will cater for the needs of customers and serve as a head office. It was also disclosed that plans are currently on stream for the bank to construct its 5th branch on the East Coast of Demerara….giving it an early entrance into that market. The event was also attended by the Prime Minister, other ministers of Government and dignitaries.

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