Republic Bank opens multi-million dollar branch in Lethem

Last Updated on Saturday, 26 December 2015, 21:00 by GxMedia

Republic Bank (Guyana) Limited on Saturday commissioned a GUY$185 million branch in Lethem near the border with Brazil, a move a top banking official hoped would tap into booming business there.

“The opening of this branch in Region Nine, clearly demonstrates Republic Bank’s continuing commitment as a partner in the economic and financial development of all corners of Guyana,” said the bank’s Chairman of the Board of Directors, Nigel Baptiste.

Construction began in November, 2012. That branch is expected to open its doors for business on Monday, October 21. The spacious and modern facility is expected to provide all basic banking services including an Automatic Teller Machine (ATM).

Republic Bank plans to also construct branches at Triumph, East Coast Demerara and Rosignol, West Coast Berbice.

Finance Minister, Dr. Ashni Singh was quoted by the Government Information Agency (GINA) as crediting Republic Bank with contributing significantly to raising the standards in Guyana’s financial services sector, introducing new products and improving the quality of service.“The Bank is a valued and respective member of the corporate community; it is an important member of the financial services sector, an important employer and provider of services,” said Singh.

The Chairman of the Board of Directors, Baptiste said the opening of the branch in Lethem was in tandem with growth in housing and small and medium enterprises in Region Nine.“Of significance, is the belief that our presence in this Region is consistent with the Government of Guyana’s desire for continued development, and modernization of the community,” he said.

Financial services and products to be offered by Republic Bank’s branch in Lethem include deposit and chequing accounts, electronic banking, various forms of lending, and foreign exchange and money transfer facilities.