GBTI continues to partner with both local and foreign investors
Despite the effects of COVID in 2021, GBTI continued as a leader in the financial industry, recording a $1.7 billion taxed profit. Much of the bank’s success is as a result of support given to its customers and value being placed on its employees.
According to Chief Executive Officer of the banking institution, James Foster, “There was a significant increase in the asset quality of the bank, much of which is attributed to the dedication and diligence of our team members”.
GBTI Chief Executive Officer James Foster
The bank’s portfolio saw improvements in its assets which grew by 12 per cent. A profit growth of 28 per cent after tax was recorded while an increased deposit growth of 12 per cent was realised. The bank’s loan portfolio grew by 20 per cent while noting an improvement of the Net NPL to below 10 per cent.
Foster also noted the success of the GBTI Mutual Funds which in less than three years of existence, recorded profit growth of $207 million. GBTI Mutual Funds offers investors a suite of alternative investment opportunities.
According to Foster, “Working as a team is key to GBTI’s successes. We seek to grow our customers’ businesses, improve the lives of our team members, and make meaningful contributions to our communities”.
The bank, being cognisant of the effects of COVID, supported communities and clients with reduced or eliminated fees, granted loan moratoriums and reduced interest rates. Team members incurred no loss of income, in addition, accessed vaccination drives which saw in excess of 95 per cent of the team being vaccinated.
Importantly GBTI’s team members continued to support communities and clients despite the challenges of the pandemic. Also, during this period, the bank invested heavily in technology to ensure it met the burgeoning expectations of clients.
Throughout GBTI’s history, the bank that sees “Guyana through its eyes” has been a key partner to many business development initiatives in our country. GBTI understands and embraces the changing landscape of the country and believe these changes are necessary for Guyana to fully exploit its potential.
