by STAFF WRITER
August 19, 2022
GEORGETOWN, Guyana, Aug 19, CMC – The Guyana Bank for Trade and Industry (GBTI) is reporting an 84 per cent increase in its after tax profit totalling GUY$1.163 billion (One Guyana dollar=US$0.004 cents) for the first six months of this year.
“The bank’s improved performance is influenced by an improving loan portfolio, favourable market conditions and stabilization at the national level. The GBTI Mutual funds has recorded improved results as well,” said chairman, Robin Stoby.
The bank, in its mid-year report, said its total Assets also grew by 14 per cent to GUY$159 billion with deposits reaching a record of GUY$135 billion.
The commercial bank said that due to its remarkable performance, it has increased its interim dividend to six dollars per share as compared to GUY$3.5 per share last year. The bank also anticipates a continued trend to the end of this year as the local economy continues to grow.
The GBTI said in an attempt to cushion the impact of the sharp rise in cost of living globally, it is providing ready and affordable access to finance in Guyana.
“This facility, accessible at all GBTI Bank branches across Guyana is increasingly the preferred route for Guyanese to a high quality of life and making their dreams a reality,” it said, adding that its global partnership initiatives have produced major collaboration with international financial institutions such as the Inter-American Development Bank (IDB) and paved the way for the signing of an investment financing agreement between GBTI and IDB.
“In consonance with the Government’s housing policy, GBTI has lowered its rates and continues to work with the Ministry of Housing towards universal home ownership,” it added.