Demerara Bank Limited, Guyana’s first private sector indigenous bank, was incorporated in 1992 and declared open in 1994. Demerara Bank offers a wide range of commercial banking services to its clients through its Corporate Office and six branches strategically located across the country, as well as various ATM locations and Point of Sale Terminals. 

In 2021, a year marked by a plethora of challenges, Demerara Bank astutely recorded significant growth in its profits. According to the 2021 Annual Report, Gross Profit increased by 40 percent from 3.508 billion GYD in 2020 to 4.898 billion GYD in 2021.  Net Proft of the Bank increased by 31 percent to $2.954 billion in comparison to $2.263 billion in 2020. 

The growing profits of the bank was mainly attributed to the increase in interest and other income. Other Income increased from $1.037 billion to $2.008 billion during the year, showing a rise of 94 percent due to diversification of the Bank’s assets.  Interest Income on Loans and Advances increased from $3.135 billion to $3.461 billion; a rise of 10.4 percent over the previous year. Total Interest Income rose by 11.3 percent to $5.419 billion.

Earnings Per Share increased from $5.03 to $6.56 per share as at September 30, 2021. The Book Value of the shares has gone up from $34.33 per share in 2020 to $40.46 per share in 2021; showing a rise of 18 percent over the previous year. Additionally, the share price for DBL increased from $91 in January 21 and closed at $211 in December, 2021; showing a rise of 132 percent. 

Demerara Bank, in its annual report, has articulated a vision and plan for continued growth in the current fiscal year. The company intends to encourage more ‘Green’ financing to the retail sector, formulate a fund for special environmental or recycling projects and leverage technology to transform its operations to a paperless environment.