Our History: The core foundation of who we are...
The concept of establishing a private-sector bank was first conceived by Dr. Yesu Persaud in the late 1960s. Although the idea was initially put on hold, it was rekindled in 1991, a period marked by increased international openness and the beginning of economic liberalization. Dr. Persaud, with his entrepreneurial acumen and deep economic insight, recognized the need for a truly Guyanese bank. He envisioned a financial institution that would embrace the latest technology, offer export trade finance, and provide high-quality, personalized, and competitive financial products and services, all while playing a pivotal role in driving economic growth.
This marked the beginning of a new chapter in Guyanese history with the launch of the country’s first private-sector indigenous bank. On January 20, 1992, Demerara Bank Limited was officially incorporated with a share capital requirement of $250 million. Dr. Yesu Persaud leveraged his extensive local and international connections from his leadership at Demerara Distillers Limited to garner substantial support, resulting in an offering that was significantly oversubscribed.
The culmination of this visionary effort occurred on November 12, 1994, when Demerara Bank Limited was officially inaugurated by His Excellency Dr. Cheddi B. Jagan, the President of the Cooperative Republic of Guyana at that time.
Today, Demerara Bank serves a broad spectrum of corporate and individual clients, providing a comprehensive range of commercial banking services through its Corporate Office and a network of eight strategically placed branches across the nation. The bank also offers various ATM locations and point-of-sale terminals for enhanced accessibility.
Remaining true to Dr. Yesu Persaud’s original vision, Demerara Bank prides itself on delivering innovative and top-tier banking services. These encompass Savings and Term Deposit Accounts, Residential and Commercial Loans, Foreign Exchange Services, Cambio Services, Visa Debit and Credit Cards, and Internet Banking Services. Notably, Demerara Bank has set an environmentally responsible example by becoming the first commercial institution to power its Corporate Office entirely with solar energy.
In addition to its financial services, Demerara Bank is firmly committed to fulfilling its corporate social responsibilities. The bank actively supports various causes related to sports, education, health, safety, and community development.
Dr. Yesu Persaud’s founding vision continues to guide Demerara Bank and the institution remains dedicated to adapting to the evolving needs of its clients and always striving to deliver superior banking services.
“We are committed to meeting the ever-changing needs of our clientele and to always provide superior banking services.”
– Dr. Yesu Persaud, Founder
Incorporation
Demerara Bank Limited was incorporated on January 20, 1992 as a private limited liability company under the provisions of the Companies Act, Chapter 89:01 and was licensed to carry on the business of Banking on October 31,1994. The Bank obtained its Certificate of Continuance on April 2, 1997 in accordance with the Companies Act 1991.
The Bank offers a complete range of banking and financial services and operates under the Provisions of the Financial Institution Act (Act 1 of 1995).
Corporate Objectives
- To help build a stronger, healthier more diverse business sector through prudent investment, attractive deposit plans and innovative lending policies.
- To provide the financial support that will demonstrate the bank’s commitment to business development and to a better Guyana.
- To provide a diversified range of quality financial services through our Correspondent Bank.
- To provide employees with excellent opportunities for personal growth and development.
- To provide investors with an attractive rate of return on their investment.
- To be a responsible corporate citizen.
Our Mission
Our Values
To excel in providing innovative and superior banking services through well-trained, dedicated and courteous staff in the interest of our customers and shareholders and to fulfill our social responsibilities to society through meaningful involvement in community development.
- Corporate Governance
- Excellent Service
- Professionalism
- Innovation
- Integrity
- Loyalty
Registrar & Transfer Office
Trust Company (Guyana) Limited 11 Lamaha Street, Queenstown, Georgetown, Guyana.
Auditors
Nizam Ali & Company - Chartered Accountants 215 'C' Camp Street, North Cummingsburg, Georgetown, Guyana.
Attorneys-at-Law
- Persaud & Associates
217 South Road, Georgetown, Guyana - Luckhoo & Luckhoo
Lot 1 Croal Street, Georgetown, Guyana - Arun Gajraj – Attorney-at-Law
Lot 5 Croal Street, Stabroek, Georgetown, Guyana - Nirvan Singh – Attorney-at-Law
Lot 156 Charlotte Street, Lacytown, Georgetown, Guyana (Ramgopal Building)
Financial Indicators as at 31st December, 2023
As of December 31, 2023, our financial indicators showcase our robust financial health and operational excellence, including a 19.25% qualifying capital to risk-weighted assets ratio, prudent lending practices, diverse asset composition, zero non-performing loans, high profitability with a 3.58% return on assets, and solid liquidity management.
| Capital Adequacy: | |
| 1.1 Qualifying Capital / Risk-weighted Assets | 19.25% |
| 1.2 Tier I Capital / Risk-weighted Assets | 17.79% |
| 1.3 Tier II Capital / Risk-weighted Assets | 0.0% |
| 1.4 Capital and Reserves / Total Assets | 12.53% |
| Lending to Connected Parties: | |
| 2.1 Related Party Loans / Gross Loans | 6.71% |
| 2.2 Related Party Loans / Capital Base | 21.74% |
| 2.3 Director Exposure / Related Party Loans | 0.00% |
| Asset Composition: | |
| 3.1 Business Enterprises Loans / Gross Loans | 10.35% |
| 3.2 Agriculture Loans / Gross Loans | 17.80% |
| 3.3 Mining and Quarry Loans / Gross Loans | 1.45% |
| 3.4 Manufacturing Loans / Gross Loans | 8.11% |
| 3.5 Services Loans / Gross Loans | 21.91% |
| 3.6 Households Loans / Gross Loans | 5.10% |
| 3.7 Top 20 Borrowers Exposure / Total Exposure | 51.06% |
| 3.8 Top 20 Borrowers Exposure / Capital Base | 165.47% |
| Asset Quality: | |
| 4.1 Non-Performing Loans / Gross Loans | Nil |
| 4.2 Non-Performing Loans / Gross Assets | Nil |
| 4.3 Non-Performing Loans net of Reserve for Loan Losses / Capital and Reserves | Nil |
| 4.4 Non-Performing Loans / Capital and Reserves | Nil |
| 4.5 Reserve for Loan Losses / Non-Performing Loans | Nil |
| 4.6 Total On-balance Sheet Assets / Capital and Reserves | 447.90% |
| 4.7 Gross Loans / Deposits | 52.25% |
| 4.8 Gross Loans / Gross Assets | 43.84% |
| 4.9 Risk-weighted Assets / (On-plus Off-balance Sheet Assets) | 132.98% |
| 4.10 Contingent Liabilities / Gross Assets | 6.43% |
| 4.11 Reserve for Loan Losses / Gross Loans | 0.11% |
| Earnings and Profitability: | |
| 5.1 Return on Assets | 3.58% |
| 5.2 Return on Equity | 28.60% |
| 5.3 Net Interest Income / Operating Income | 76.00% |
| 5.4 Non-Interest Income / Operating Income | 7.70% |
| 5.5 Operating Expenses / Operating Income | 33.00% |
| 5.6 Foreign Exchange Gains / Operating Income | 7.70% |
| 5.7 Interest Expense / Interest Income | 11.03% |
| 5.8 Non-interest Income / Operating Expenses | 44.16% |
| 5.9 Personnel Expenses / Operating Expenses | 50.89% |
| 5.10 Earning Assets / Average Total Assets | 61.96% |
| 5.11 Non-Interest Expenses / Operating Income | 23.58% |
| 5.12 Personnel Expenses / Non-interest Expenses | 71.23% |
| 5.13 Net Operating Income / Average Total Assets | 0.89% |
| 5.14 Operating Expenses / Average Total Assets | 0.44% |
| Liquidity: | |
| 6.1 Interest Expense / Average Earning Assets | 0.20% |
| 6.2 Net Interest Income / Average Earning Assets | 1.64% |
| 6.3 Liquid Assets / Gross Assets | 17.64% |
| 6.4 Liquid Assets / Total Demand and Time Liabilities | 48.65% |
| 6.5 Deposits / Gross Loans | 191.38% |
| 6.6 Deposits / Earning Assets | 134.23% |
| 6.7 Deposits / Gross Assets | 83.91% |