Mr. Pravinchandra Dave has over three decades of professional banking experience in an executive capacity. Equipped with a vast spectrum of knowledge of banking operations, he spearheaded the Bank into a leading financial institution in Guyana and has been instrumental for the rapid growth and expansion of the Bank.

Mr. Dave is the recipient of the Golden Arrow of Achievement (A.A.) that was conferred in 2018.

In The World Of Banking, Achieving The Extraordinary Requires Bold Aspirations.

The bank recorded another exceptional year of performance for the financial year ended September 30, 2023. Our continuous outstanding performance lies in our financial discipline, strategies for investment and continuous development in our human resources. Moreover, the confidence and expectations of our shareholders and customers have undoubtedly influenced our growth and passion for improvement to become a digital frontier bank.

Just a year ago, we were the only bank that did not have any Non-Performing Loans which was unheard of in the financial sector.

For September, 2023, we have successfully maintained a spotless record with zero Non-Performing Loans yet again while our loan portfolio expanded by 23 percent over the year. This exceptional accomplishment is a direct result of the diligent and prudent management exhibited by our dedicated staff, under the wise guidance of our esteemed Board of Directors.

We have embarked on a transformative journey that was characterized by audacious goals and steadfast determination. Our vision to grow our revenue was not without its challenges, but it underscored our commitment to our customers, shareholders, and the communities we serve.

We set the bar high and persevered relentlessly.
 The Net Profit of the bank increased significantly by 37.9 percent to $4.075 billion in comparison to $2.954 billion in 2022.
 Total Deposits increased from $107.0 billion to $139.1billion; increasing by 30 percent over the previous year.
 Total Advances of the bank increased from $58.2billion to $71.4 billion in 2023; showing a rise of 22.7 percent over the corresponding 2022 period.
 Investments of the group as at September 30, 2023 was $53.5 billion.
 Zero non-performing loans as the end of the reporting period.
 Earnings per Share increased from $6.57 per share to $9.06 per share as at September 30, 2023 indicating an increase of 37.9 percent.
 Return on Average Assets as at September 30, 2023 was 2.85 percent which is far higher than the industry average.
 Shareholders’ Funds have gone up from $16.7 billion to $19.8 billion; showing a rise of 18.2 percent from the previous year.
 Return on Shareholders’ Funds has been substantial over the year and recorded a return of 20.6 percent for the year ended September 30, 2023.
 The Book Value of the shares has gone up from $37.20 per share in 2022 to $43.96 per share in 2023; showing a rise of 18.2 percent over the previous year.

Income and Expenses
The bank was able to achieve Profit Before Taxation of $5.945 billion, an increase of 21.7 percent over the previous year and an After-Tax Profit of $4.075 billion, an increase of 37.9 percent for the period ended September 30, 2023.

These outstanding results were primarily attributed to a focused approach to improve our income mix.
Interest Income increased by 25.4 percent or $7.907 billion of which income from loans and advances increased by 20.4 percent whist income from investment grew by 36.2 percent.

Interest Expenses increased by $35 million or 4.4 percent while Non-Interest Expenses have moved from $1.741 billion to $1.951 billion; showing a rise of 12.0 percent over the previous year.

Despite inflationary challenges in the broader economic landscape, the bank has demonstrated its ability to effectively manage expenses. The main contributor to Non-Interest Expenses was mainly an increase in staff costs since we consider our staff as our most valued asset. Notably, the bank focuses on maintaining a strong cost/income ratio through innovative cost-saving strategies and remains committed to financial prudence