Indigenous banks ought not to try to become clones of foreign commercial banks-Granger


Citizens Bank/Guyana Inc on Friday (January 20, 2017) opened the doors to its $2.5B new Corporate Head offices located at the corners of Camp Street and South Road in Georgetown.

The new 37,000 square foot edifice boasts four floors, energy efficient solar LED glass and other energy efficient features including a LED lights throughout the building and a water cooling system.

Head Table at Opening of Citizens Bank new Corporate Offices

Added to this, Chairman of the Board of Directors of the Banks DIH Group, Clifford Reis says is the fact that the new offices will not only provide improved accommodations but an improvement in the level and types of services provided.

“We will re-double our efforts at improving our customer relationships, the management of risk, assess quality maintenance; including enhanced recovery methods, human resources development and management, corporate governance, a continued leveraging of existing technology and strict expenditure control” Reis said.

Looking into 2017, the chairman says despite the anticipated challenges “Citizens Bank remains confident that its strategies will enable (us) to achieve an improved performance of our stakeholders and continue to contribute to the development of the banking sector and the wider company and the wider economy.”

Unveiling of the Plaque

Speaking on the wider economy was President David Granger, who gave the feature address, who says indigenous banks must strive to differentiate themselves from foreign commercial banks.

“They should seek to transform the character of their operations by aligning their services to meet the needs of local businesses, local communities, local entrepreneurs particularly the micro, small and medium scale enterprises” the President said.

In fact, the President declares that his government supports these types of enterprises because they provide new employment, promote innovation and empower marginalized groups.

First Lady, Sandra Granger cutting the ribbon, declaring the building officially open.

Indigenous banks, Mr. Granger says are better prepared to play a part in the economic transformation of the country, a point which Chairman Reis confirmed in his remarks saying the new Corporate office is testimony to shareholders that “Citizens Bank is ready and willing to play its part in the creation and sustaining of a meaningful and productive life for all citizens.”

Citizens Bank/Guyana Inc acquired it new location in 2012, while real construction started in June 2014.

Citizens Bank began operations in Guyana in 1994 as an arm of Citizens Bank Jamaica and it became fully owned by companies and shareholders in 1998.




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