Demerara Bank Ltd’s 30th anniversary: Bank’s current market capital now stands at almost US$750M – Chairman

– remains committed to improve, expand services

Demerara Bank Ltd on November 21, 2024, commemorated its 30th anniversary, celebrating three decades of excellence and impact in the banking industry. During this landmark event, the Chairman of Demerara Bank Ltd, Komal Samaroo reflected on the bank’s remarkable journey, its accomplishments and its aspirations for the future.

The Chairman began by honouring the pioneers who have gone to the great beyond, the individuals whose vision in conceptualising, creating and continuously leading the growth of Demerara Bank over the past 30 years.
Samaroo stated that they played a crucial role in laying the foundation for the bank’s success. Special recognition was also given to the late Dr Yesu Persaud, along with respected directors Hemraj Kissoon and Chandra Gajraj, whose vision, perseverance and commitment have left a lasting legacy.
Further, he highlighted the bank’s impressive growth from an initial equity investment of US$2 million by its founding shareholders to a current market capitalisation approaching almost US$750,000 million.
This phenomenal growth not only signifies Demerara Bank Ltd’s financial success but also its substantial contributions to the national economy through taxes, job creation, shareholder dividends and stimulating economic activities.
Beyond these tangible achievements, the Chairman emphasised the bank’s vital role in instilling self-confidence and belief in the potential of the Guyanese people and what they can achieve once they are determined to work hard, be disciplined in their approach and committed to lofty goals, even when they face challenges.
He also expressed sincere gratitude to the Executive leadership team, management and dedicated staff members, whose efforts have been pivotal to the bank’s success. He also conveyed his gratitude to the group of young professionals who bought into the vision and left their secured positions elsewhere to start creating the institution, long before it opened its doors for business and to those who joined after the commencement of the journey 30 years ago.
Special appreciation was bestowed upon Pravinchandra Dave, who admirably served as CEO for 22 years and extended congratulations to the current CEO, Dowlat Parbhu, expressing confidence in his ability to lead the bank towards an innovative banking experience in Guyana.
Samaroo thanked the members of the board of Directors, both those who served in the past and those presently serving for their guidance, insights and leadership as they have helped to shape a great institution!
Finally, express gratitude to the thousands of customers across the length and breadth of Guyana who supported the bank from the very beginning and throughout its 30 years, who were proud to do business with the only bank that has so far been born out of the indigenous Guyanese Private Sector and provides world-class services to meet the evolving needs of customers.
The Chairman assured that the bank is more committed than ever to continuously improve and expand its services to its customers as Guyana continues on its phenomenal growth path.