The Guyana Bank for Trade and Industry has announced that it recorded $3 Billion in profits in 2023. The bank said its improved performance was driven by prudent cost management and a focus on improving operational efficiency.
Chairman of the Board of Directors, Robin Stoby said he is pleased to report that the bank has shown resilience and achieved significant milestones over the year.
“In 2023, the Bank and its subsidiary recorded a total asset base of G$201B, reflecting an increase of 15% from the previous year. This growth was primarily driven by a strong performance in our lending portfolio, which saw a 18% increase in overall loans & overdraft portfolio compared to the previous year. Our deposit base also grew by 17%, reaching G$168B, indicating a high level of trust and confidence from our customers.
The $3 Billion in after tax profits, represent a 30% increase from the previous year.
In a statement, GBTI said as the local economy continues to grow at a raid pace, the bank believes that its strong financial position, coupled with its focus on innovation and customer service, will enable it to leverage through the various opportunities and continue to deliver value to shareholders.
Just recently, GBTI announced the appointment of Shawn Gurcharran as its new Chief Executive Officer. The bank said that with over 20 years in banking and a solid tenure as GBTI’s Chief Financial Officer and Deputy Chief Executive Officer, he is uniquely poised to lead the management structure of the bank.
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