GBTI records $2.3B in net income after tax in 2022

– loans grew by 33%

The Guyana Bank for Trade and Industry (GBTI) on Thursday announced that 2022 has been an exceptional year, with a net income after tax of $2.3 billion. In addition, 2022 ended with $175 billion in total assets, along with an exponential improvement in its asset quality.
Against a background of a rapidly expanding economy, loans grew by 33 per cent for the year to $65 billion, while deposits grew by 20 per cent to $148 billion.
Based on this performance, a dividend of $20 per share has been recommended; $12 of which has already been paid to shareholders. This dividend represents a 25 per cent increase over that of 2021.
“GBTI sees encouraging portents for continued positive growth in 2023. We anticipate a continuing growth trajectory and strengthening of our position in the local market”, Chief Executive Officer James Foster stated.
The banking institution in a release stated that, undoubtedly, a highlight of the performance is the transformative digital drive through upgraded software computer systems overall, and “Go- Banking” in the last quarter of 2022, without negative impact to its increasingly digital-savvy customers.
“The upgrade process is ongoing; staff training is continuous, and clients are sharing expressions of support and greater confidence in the bank and Guyana’s economy. GBTI’s competitive performance in 2022 was fuelled further by an empowered team conversant with, and committed to, achieving its strategic priorities,” the release added.
As 2023 enters its second quarter, GBTI says, it is poised for continued growth and more regular engagement with stakeholders and the communities it serves countrywide.