Demerara Bank says positioning self to tap opportunities in oil sector

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…developing advanced banking platform

Demerara Bank said that it is reviewing its strategies to benefit from opportunities that exist in the Oil and Gas industry which

includes the development of an advanced corporate internet banking platform which will drastically improve the convenience and services to our corporate customers.

In its financial report released on Friday the bank said this platform will include advanced features such as customizable authorization instructions, ability to view cheque images and the ability to make request for wire transfers and other instructions. “On the retail side, we are finalizing the testing of a mobile banking application which will also improve the delivery of our services,” the report stated.

Additionally, the Bank is in the process of completing its eighth branch which is located in Mahaica, East Coast Demerara. This branch, the bank said is integral to bridging the banking needs for residents in the area and environs as customers are currently required to travel to either Georgetown, Rosignol or Rosehall to conduct banking business which is an inconvenience and a security risk. The Mahaica branch will provide the full line of services similar to that of other locations.

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“We have also been approved for a revolving line of credit for trade financing purposes and other concessions which will see the support of IDB in many areas such as building international partners, providing guarantees for the bank and support for future upcoming projects. Guyana is on the brink on tremendous development and this relation with IDB poses a strategic benefit for Demerara Bank Limited.

We will continue to promote a green and sustainable environment which to date has seen all the buildings owned by the bank retrofitted with solar resulting in substantial savings over the last four years,” the bank stated in the report.



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