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Tag Archives: commercial banks

Republic Bank relaxes rules on late fees, loan repayments to help cushion impact of Coronavirus

Republic Bank (Guyana) Limited has started waiving late fees and other penalties on the repayment of credit card debts, loans and mortgages as well as allowing eligible customers to postpone loan repayments for the next six months, in keeping with a request by the Bank of Guyana to all commercial banks. “In response to the anticipated impact as a result ...

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Commercial banks cut back on opening hours due to COVID-19

Banks in Guyana will from Tuesday March 24, adjust their banking hours to customers as one measure to combat the spread of the coronavirus (Covid-19) in Guyana. A Bank of Guyana (BOG) spokeswoman told News Talk Radio Guyana that the Guyana Bankers Association came up with the initiative and sought the approval of BOG to which the central bank gave ...

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16% interest rate “ridiculous” for businesses to borrow from commercial banks – GCCI

The Georgetown Chamber of Commerce and Industry (GCCI) on Tuesday said its planned Business Development Forum would be geared to helping small businesses find other sources of financing. Senior Vice President of the GCCI, Timothy Tucker says that’s because interest rates at commercial banks are very steep compared to crowd-funding, boot-strapping and equity. “Apart from electricity costs in manufacturing, is ...

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