“Private banking signals new era of sophisticated, inclusive financial growth” – Pres Ali

…says tailored banking services reflect Guyana’s economic maturity
…as GBTI launches a new service

The Guyana Bank for Trade and Industry (GBTI) on Friday evening launched its private banking service – a new offering which President Dr Irfaan Ali says will meet the demands of a growing and more sophisticated economy.
“The investors of today do not have the time to sometimes go into corporate offices. Private banking allows a direct relationship and coordination of relationships. Private banking is also not only about conducting your banking needs,” the Head of State noted at the launch held at GBTI’s Corporate Headquarters in Kingston, Georgetown, adding that in the private banking environment, “there is investment advice, so the banks are expected to invest in business development analytics so that your private banking mechanism would be able to advise your customers on opportunities in the economy and how those opportunities can be aligned to your personal financial portfolio.”
Private banking is a personalised, exclusive offering that provides high-end financial services like wealth management, investment advice, and lending to high-net-worth individuals (HNWIs) through a dedicated relationship manager.
According to President Ali, while this service is often viewed as elitist, it in fact provides tailored solutions for complex financial needs.
“Private banking caters for clients with more complex financial needs. But a modern banking system must be capable of serving different clients differently, without apology and without exclusion… A modern banking system must offer both mass market services and tailored solutions, and that is what private banking allows us to do – offer tailored solutions also. Sophistication is not exclusion. Diversity of services is not inequality; it is maturity,” Ali emphasised.

Road to progress
The introduction of private banking by GBTI – the second local commercial bank to do so – is part of the natural and necessary evolution of Guyana’s banking sector, the Guyanese Leader said. He pointed out that it is a reflection of rising incomes, expanding businesses, increasing investment flows and a more complex financial landscape.
“I see the launch of private banking services as a marker on the road of progress. It is a quiet moment, but a moment that sends a signal of confidence that Guyana’s banking sector is moving ahead in a more sophisticated economy, and we have to recognise that private banking is not stratifying the customer base. Private banking is meeting a different demand in a growing and more sophisticated economy,” he stressed.
Against this backdrop, the Guyanese leader launched GBTI and the other commercial banks for actively taking steps to modernise the local financial sector in the past few months and enhance customer interaction. He specifically mentioned the provisions made by nearly all local banks to allow the opening of bank accounts completely online.
With the Guyana Government pushing to have every citizen with a bank account as part of its financial sector transformation, President Ali has urged GBTI to be more proactive in attracting new clients. In fact, he suggested that the bank target areas such as the minibus parks in Georgetown.
“It is important that banks operate in a multifaceted way. So, as we are in this beautiful lobby, launching this dynamic product, so too should the bank be in the bus parks, launching a direct engagement and education programme with all those who operate minibuses, whether they are drivers or conductors, and getting them engaged in a process of registering in the financial system of the country by owning a bank account. Because that is the first way of building your private balance sheet, in creating wealth and opening up opportunity ahead of you,” the Head of State posited.
According to Ali, the launch of private banking at GBTI not only highlights the development of the local banking system and the financial sector but also tells something important about where Guyana is going.

Personal and powered by partnership
Meanwhile, Chairman of GBTI, Suresh Beharry, explained that the introduction of this new service comes on the heels of decades of commitment that saw the bank growing alongside families, entrepreneurs, professionals, and institutions, helping them build businesses, educate children, create opportunities, and shape communities.
With private banking, he said GBTI is taking this commitment a step further with a new standard of banking – one that is personal and powered by partnership.
“Private banking is about personalisation. It is about listening first, then designing solutions that reflect each client’s unique journey. Whether your goals involve your wealth, protecting your assets, planning for your future generations, or making a meaningful social impact, our private banking team is here to walk that path with you every step of the way.”
“This service brings together the very best of our bank, experienced relationship managers, specialist advisors in investment, credit, philanthropy, and estate management, and a seamless blend of global expertise but with local understanding. But beyond products and platforms, what truly defines our private banking promise is relationships. We believe in partnerships built on discretion, integrity, and long-term vision,” the GBTI chairman stated.