Caribbean Community Secretariat (CARICOM)
(Honorary Member)
Secretary General: Mr. Edwin Carrington
CAIB Rep: Mrs. Enid Bissember
Senior Project Officer, Economic Policy
P.O. Box 10827, Turkeyen,
Greater Georgetown, GUYANA
Tel: (592) 222 0001/75, Fax: (592) 222 0171
In 1972, Commonwealth Caribbean leaders at the 7th Heads of Government Conference decided to transform the Caribbean Free Trade Association (CARIFTA) into a Common Market and establish the Caribbean Community, of which the Common Market would be an integral part. The signing of the Treaty establishing the Caribbean Community, Chaguaramas, 4th July 1973, was a defining moment in the history of the Commonwealth Caribbean. Although a free-trade area had been established, CARIFTA did not provide for the free movement of labour and capital, or the coordination of agricultural, industrial and foreign policies. The Community has the following objectives: (a) improved standards of living and work; (b) full employment of labour and other factors of production; (c) accelerated, coordinated and sustained economic development and convergence; (d) expansion of trade and economic relations with third States; (e) enhanced levels of international competitiveness; (f) organisation for increased production and productivity; (g) the achievement of a greater measure of economic leverage and effectiveness of Member States in dealing with 3rd States, groups of States and entities of any description; (h) enhanced co-ordination of Member States' foreign economic policies; and (i) enhanced functional co-operation.
Citizens Bank Guyana Inc.
Managing Director: Mr. Eton M. Chester
201 Camp & Charlotte Streets, Lacytown,
Georgetown, GUYANA
Tel: (592) 226 1708/9, Fax: (592) 227 8251
Citizens Bank Guyana Inc was incorporated in November 1993 and commenced business in November 1994 as a wholly owned subsidiary of Citizens Bank Jamaica Limited. The administrative office and main branch of Citizens Bank Guyana Inc is situated at lot 201 Camp and Charlotte Streets, Lacytown, Georgetown. In September of 1996, Citizens Bank Jamaica Limited reduced its ownership of Citizens Bank Guyana Inc to 70% and in November of 1998, existing Guyanese shareholders acquired the remaining 70% shareholding in Citizens Bank Guyana Inc held by Citizens Bank Jamaica Limited. Banks DIH Limited, a company incorporated in Guyana, acquired sufficient additional shares to enable it to own 51% of the share capital of the Bank. Other major shareholders of the Bank are the Continental Agencies Limited 16.7% and the Hand-in-Hand Insurance Group with 16.5%. 68 shareholders including 11 employees hold the remaining 15.8%. The bank’s mission is “To attain Distinguished Leadership through a team of Professionals delivering Innovative, Superior Service to our Customers.” It is staffed by (73) employees and has (8) ATMs, located at convenient points around the capital, Georgetown and at each of its (4) branches located at Camp Street and Thirst Park, Georgetown, Parika, East Bank of Essequibo and Bartica, Essequibo River. The Bank had total audited assets of US$101.1 million as at September 30, 2008 accounting for a 12.0% market share of the banking sector.
Guyana Bank for Trade and Industry Ltd.
Chief Executive Officer: Mr. Radhakrishna Sharma
CAIB Rep: Mr. John Tracey, Director-Credit
47-48 Water Street, P. O. Box 10280,
Georgetown, GUYANA
Tel: (592) 226 8430/9, Fax: (592) 227-1612
E-Mail: banking@gbtibank.com
Guyana Bank for Trade and Industry Ltd. has a rich and successful history that dates back to the establishment of the first commercial bank in British Guiana in 1836, and was part of the Barclays Bank network up to 1987 when Barclays sold their local operations to the Government of Guyana, and the Bank was renamed Guyana Bank for Trade and Industry Limited. In 1991, GBTI became a public company and now has over 1,800 shareholders, including a majority shareholder. GBTI provides an extensive range of services to its corporate and individual clients through its (9) countrywide branches staffed by (259) employees. A range of business and investment accounts cater to individuals and the business community, and financing is offered under the GBTI Quality Lifestyle and Commercial Loan Plans. The Bank also provides international business services such as money transfer, bills for collection, bills discounting, and pre-export financing; and technology-based services such as Visa Prepaid & Credit Cards, Telephone Banking and Debit Cards for its network of (14) ATMs and POS Terminals located throughout the country. The Bank has built up a reputation for innovative, efficient and quality service to its customers and embraces its responsibility as a good corporate citizen through its varied and sustained nation building contributions. The Bank has market share of 22% in assets, 20% in deposits, and 23% in lending. GBTI is the second-largest commercial bank in Guyana, with an audited asset base of US$250 million at December 2008.
Hand-in-Hand Trust Corporation Inc.
General Manager: Mr. Hewley Nelson
62-63 Middle Street, PO Box 10569, North Cummingsburg,
Georgetown, GUYANA
Tel: (592) 227 1772, Fax: (592) 226 9971
Hand-in-Hand Trust Corporation Inc., formerly GUNK Trust Corporation Inc., was incorporated in 1971 as a wholly owned subsidiary of the Guyana National Cooperative Bank Ltd. In 1977, it was incorporated as a public company but later privatised and is now owned 90% by Hand-in-Hand Group of Companies and 10% by the Government of Guyana. Staffed by (46) employees, it is the largest fund manager in Guyana. Its mission is "To complement the services provided by other institutions the sum of which is the improvement of the quality of life of the people of our community." Its audited asset base stood at US$42.2 million as at June 2008.
Republic Bank (Guyana) Limited
Managing Director: Mr. Edwin H. Gooding
PO. Box 10440, Promenade Court,
155-156 New Market Street, South Cummingsburg,
Georgetown, GUYANA
Tel: (592) 223 7938/49, Fax: (592) 227 4523
Republic Bank (Guyana) Limited formerly National Bank of Industry and Commerce Limited (NBIC) has been part of Guyana's landscape for almost 17 decades. It is the successor to the British Guiana Bank which commenced operations in 1837. In 1914, British Guiana Bank's operations were sold to the Royal Bank of Canada, which was later acquired by the Government of Guyana in 1984, and vested in the National Bank of Industry and Commerce Ltd. In October 1997, 47.5% of the stocks held by the Government and the National Insurance Scheme was sold to Republic Bank Limited of Trinidad and Tobago, which today holds 51% of the stockholdings of the bank. Republic Bank (Guyana) Limited operates from (10) locations with a staff of (584) as at July 2009. It has a total of (32) ABMs at (15) locations. The Bank’s mission is “To provide Personalised, Efficient and Competitively-priced Financial Services and to implement Sound Policies which will redound to the benefits of our Customers, Staff and Shareholders.” It aims to realize its commitment to the economic development of Guyana through continuous innovation and the use of modern technology driven by its sound leadership and corporate social responsibility. Its asset base as at September 2008 was approximately US$412.6 million.
