Monday, December 9, 2013
GUYANA
Berbice
Creativity
at GuySuCo’s Port Mourant Training Centre See page 4
Issue No. 002
guyanatimesgy.com
Banking on Berbicians! W
ith more than 250 customers and a loan portfolio of roughly $1.8 billion, the Guyana Bank for Trade and Industry (GBTI) sees Berbice as an attractive investment destination and its recent move to open a new branch in Port Mourant is a strategic one to create further avenues for small and medium sized businesses to take advantage of its services. Before Saturday, the bank’s only branch in Berbice was in Corriverton, but with a growing customer base and the rapid expansion of economic activities in the county, officials see it opening up branches in New Amsterdam and possibly on the West Coast of Berbice in the near future. Speaking to Berbice Times in an exclusive interview, GBTI Head of Credit, Shaleeza Shaw said: “In Region Six, we’ve lent over 250 customers and our portfolio is roughly about $1.8 billion. We’ve done lending a lot in the agriculture sector: rice and sugar, particularly sugar cane private famers supporting the Skeldon Sugar Factory.” Shaw said sugar was the biggest subsector of the agricultural loans portfolio for that branch. “We’ve also done a lot of commercial lending–trading and distribution. We’ve supported a lot of hardware, gas stations, other small businesses; and when we launched our Women of Worth product in Region Six, a lot of women benefited – over 200 women in their various businesses,” Shaw explained. In the area of residential mortgage loans, she said this has picked up over the last three years. And with the govern-
– GBTI loans worth $1.8B
ment rolling out some new housing schemes, it is expected that this portfolio will increase. Asked to compare the bank’s loan portfolio in Berbice with the rest of the country, Shaw said on a scale of highest to lowest, it gets a medium score. “Of course, the Georgetown branch would contribute to the majority of our portfolio. That branch (Corriverton), if I ran it in terms of the segment, it will be fifth, so that’s a good sign. It would have been better if we had branches up there that could have supported the volume of businesses in the region.”
Always had desire
Asked why the bank decided to open up a new branch in Port Mourant, GBTI’s head of administration, Sean Noel, said the institution has always had a desire to support its Corriverton branch and businesses along the Corentyne coast. “Our branch in Corriverton was established in 1997 and outside of that location, the next GBTI branch on that side of the country is in Georgetown and it has been a goal of us since about 2000 to look at supporting that area, recognising other banking services in Rose Hall, then after Rose Hall, there is an absence of banking service all the way to the city. So, our goal really is to map that entire stretch and so Port Mourant is the first in that stretch. We have already covered the wing to the east which is Parika, Anna Regina, Vreed-en-Hoop and when you come across, we went to Diamond,” Noel said. turn to Page 4
WHAT'S INSIDE:
Private cars acting as taxis giving police headache in Berbice
Page 4
Page 5 Who killed the Smythfield girls?
Page 6 Rise in street dwellers worries Berbicians