The Bank of Boroda opens its new 50million sub-branch at lot 30 tract “A” Montrose East Cost Demerara yesterday Monday the 26 about 4:30 pm. The banks ribbon which was cut by Prime Minister Samuel Hinds who also declared the financial institution operational. The minister noted that is the growing of number of banks in areas such as Parika, and diamond.
The Bank of Boroda opens its new 50million sub-branch at lot 30 tract “A” Montrose East Cost Demerara yesterday Monday the 26 about 4:30 pm. The banks ribbon which was cut by Prime Minister Samuel Hinds who also declared the financial institution operational. The minister noted that is the growing of number of banks in areas such as Parika, and diamond. The bank has big step to increase of the fanatical sector in Guyana.
According to Hinds, given that the Bank of Baroda was first established here to serve the interests of Indian businesses the new branch represents the “full arrival” of the bank in Guyana.
“It’s important as a signal that the Bank of Baroda is now fully in Guyana and Guyana is now a place where the Bank of Baroda has extended itself.”
He added that it was a vote of confidence in the Guyanese economy and the country’s prospects, sentiments that were also expressed by the finance minister.
Hinds also suggested that the bank could look at other communities in which it could open other branches and related that the hinterland areas in particular were in need of banking facilities.
Bank of Baroda Managing Director P.K Kala gave assurance that they would be providing “international banking standards” at the Mon Repos branch while Board Chairman Dhimant Triveni noted that the parent bank has recorded continuous profits since its establishment in 1908.
According to Triveni, the bank’s total business as at December 31, 2011 was more than US$120B with an operating profit of about US$1.5B for the last nine months of that year.
“I am confident that the expertise and the experience of the bank will be used with diligence by the Bank of Baroda (Guyana) for the development of Guyana and its people,” the chairman said.
The Bank of Baroda is India’s largest international bank with some 86 branches outside of the country
