Bank of America to open office in Guyana in 2026

The Bank of America is set to open a representative office on Guyana in 2026.
Attorney General and Legal Affairs Minister Anil Nandlall on Wednesday evening during a public meeting at Dey Corner, Amelia’s Ward, Linden, Region 10 (Upper Demerara-Berbice) said that very soon an American bank would be opening in Guyana.

When asked to clarify which bank, Nandlall confirmed it was the Bank of America.
In September 2023, the Guyana Government met with several international financial institutions as it sought to expand the local market.
At the time, President Dr Irfaan Ali had said that engagements were currently ongoing with at least two major United States-based commercial banks on expanding their services here. The two banks were the Bank of America and Citibank.
“We are developing our [financial] market. Our market will become more sophisticated in the future, the financial services will be much more robust, and the financial services will be extended. So, these major financial institutions are all coming. We had not only meetings with the Bank of America, but we had a lot of ongoing meetings with Citibank and other banks across the globe,” the President had revealed during a press conference in September 2023 at State House. President Ali, along with Senior Finance Minister Dr Ashni Singh and Natural Resources Minister Vickram Bharrat, met with representatives from the Bank of America, who were in Guyana on an exploratory mission.
The visiting delegation in 2023 included the Managing Director – Global Energy Corporate Banking, Donald Ward Rickertsen; Managing Director – Head of Global Export Agency Finance, Patrick William Gang, and Director – Regional Corporate Banking, Diego Armando Torres-Luna.
Back in 2016 under the then A Partnership for National Unity/Alliance For Change (APNU/AFC) coalition Administration, the Bank of America had severed ties with financial institutions in the Caribbean, including Guyana, over money laundering concerns. In a notice at the time, the Bank of America had informed that it was severing its corresponding relationship with “indigenous banks” in Guyana.
The Bank of America is one of the world’s leading financial institutions, serving individuals, small- and middle-market businesses, large corporations, and Governments with a full range of banking, investment management, and other financial and risk management products and services. The bank was founded in San Francisco, California in 1923. It is the second-largest banking institution in the United States, after JPMorgan Chase, and the second-largest bank in the world by market capitalisation.

Citibank
Meanwhile in November 2024, Vice President Bharrat Jagdeo had said that global banking giant Citibank was considering establishing an office in Guyana.
During one of his weekly press briefings, VP Jagdeo had explained that the Government has already engaged a representative of the financial institution, and while the Administration was optimistic about the establishment of a local branch, an office would be equally effective.
On this point, he had highlighted that the office coupled with Guyana’s growing economy will play a crucial role in enhancing financial services by providing access to international expertise, advanced banking solutions, and global networks.
Additionally, he had said that the initiative has the ability to boost foreign investment by increasing investor confidence in the local economy, facilitating international trade through better financial infrastructure, and supporting businesses with access to capital and resources.
Citibank is also a leading financial services provider with operations in over 100 countries and has a reputation for supporting economic development in emerging markets. Its interest in Guyana underscores the country’s rising profile on the global stage.