GBTI records $4B profit

The Guyana Bank for Trade and Industry (GBTI) has reported a record-breaking financial performance for 2024, with a profit after tax of $4 billion, representing a 31 per cent increase from $3 billion in 2023.

The bank in a release also said that its total assets grew by 24 per cent, reaching $249 billion, driven largely by strategic investments, operational efficiency, and a well-diversified loan portfolio.

GBTI Chairman Robin Stoby S.C. said the bank’s sustained growth reflects its strong financial position, digital transformation efforts, and customer-centric approach.

“As Guyana’s economy continues to expand, GBTI remains committed to empowering individuals and businesses through innovative financial services,” he said.

Other key financial highlights of the bank last year include dividends of $32 per share, a 21 per cent increase, with a total dividend payout of $1.28 billion. The share trading price now stands at $1,440 per share.

GBTI attributed much of its success to a strategic push toward digital banking and innovation, aligning with Guyana’s rapid economic growth. The bank introduced new digital banking solutions, enhancing customer experience and financial accessibility, while investments in AI-driven banking, cybersecurity, and mobile banking innovations further strengthened its position in the financial sector.

“Digital transformation is not just a strategy—it is our commitment to ensuring seamless, efficient, and secure banking for our customers,” Stoby said, point out that “Our advancements in AI, mobile banking, and customer-focused innovations position us as a forward-thinking financial institution.”

The bank also reaffirmed its commitment to strong corporate governance, risk management, and ethical banking practices.

It has strengthened its governance framework with comprehensive risk management policies to ensure financial stability and resilience amid an evolving economic landscape.

In addition to its financial performance, GBTI expanded its corporate social responsibility (CSR) initiatives in 2024, focusing on education and youth empowerment, environmental sustainability, and social welfare and financial inclusion.

According to the bank, these efforts, along with strategic partnerships, have positively impacted local communities, reinforcing its role as a trusted financial partner in Guyana’s development.

Looking ahead, the release said GBTI is positioning itself for continued growth in 2025, particularly with the expansion of the oil, gas, and gold sectors. The bank plans to introduce new financial products, expand digital services, and strengthen customer relationships to meet the evolving needs of individuals and businesses.

“Our vision for 2025 is clear: to solidify GBTI’s position as a leader in the financial sector through continued innovation, strong governance, and sustainable banking practices,” Stoby said, adding: “We are excited about the future and remain committed to delivering long-term value for our customers, employees, and stakeholders.”

GBTI Chairman Robin Stoby