Republic Bank (Guyana) Limited’s history spans 170 years, originating in 1836 as the British Guiana Bank, which has several firsts:
It was the first commercial bank to start business in the colony of British Guiana. It was the first indigenous commercial bank. It was the first bank owned by the indigenous private sector.
In 1914 the British Guiana Bank was purchased by the Royal Bank of Canada and became the second foreign-owned commercial bank in the history of the country. In 1984 after 70 years in Guyana, the Royal Bank closed its operations and sold the bank to the Government of Guyana. Thus came into being the new financial entity – the National Bank of Industry and Commerce Limited, which was converted into a public company when the Government sold approximately 50% of its stock to local private sector interests. National Bank of Industry and Commerce Limited is the only bank in Guyana that has changed from local ownership to foreign ownership then, full circle, to local ownership again.
The establishment of the first private indigenous bank to operate in British Guiana was on November 11, 1836. Business commenced in Georgetown on February 16, 1837 and in New Amsterdam on March 06, 1837. Prior to this establishment the economy of the country was not conducive to banking as both external and internal trade were largely on a barter basis. Many products such as tobacco, sugar, cotton and rum, were used in exchange for other goods. Money was not yet accepted as a medium of exchange. Towards the end of the 18th century, however, Berbice, Demerara and Essequibo began to experience economic growth and with it, an increase in the circulation of money.
In 1939, on the outbreak of World War II, many persons had flocked the Savings Banks to withdraw their savings because of rumours that there would be a freeze on all deposits. Inflation during the war nevertheless, caused deposits in the bank to soar.
February 1945, was a month of tragedy – the great fire raged through the business sector of Georgetown leaving a number of charred and gutted buildings, including the Royal Bank of Canada. The Bank’s building, which was completely destroyed, also housed the residence of the Manager, Mr. A.D. Machillivray. The Royal Bank building was completely rebuilt in 1948 by Messrs. Sprostons Ltd., and boasted as being the first to be erected after the fire, thus reflecting the bank’s ability to survive despite the most trying of circumstances.
On November 21, 1984, the National Bank of Industry and Commerce was incorporated under the Company Act as a private limited liability company with an authorised share capital of $20,000,000: and on May 11, 1985 was converted into a public company with an authorised share capital of $40,000,000 double that authorised at the commencement of the bank.
On October 13, 1997, Republic Bank Limited of Trinidad and Tobago became Majority Shareholder after purchasing 47.5% shares from government and National Insurance Scheme and 3.5% from individuals. (30% from government and 17.5% from NIS)
On June 5, 2006, the official name of the Bank (National Bank of Industry and Commerce) was re-branded to Republic Bank (Guyana) Limited.
Chairman of the Board Mr. Dulal-Whiteway is a veteran banker with over 18 years of experience in Trinidad and Tobago and Canada. He currently sits on the Boards of Directors of Republic Bank Limited, Republic Finance and Merchant Bank Limited (Fincor), London Street Project Company Limited, Republic Securities Limited, Republic Bank Trinidad and Tobago (Cayman) Limited, Barbados National Bank and Banco Mercantil S.A. He is also Chairman of Trinidad Cement Limited and the Foundation for the Enhancement and Enrichment of Life (FEEL), a charitable organization based in Trinidad and Tobago.
John N. Alves is an Executive Director and Corporate Secretary to the Board of Directors. He is a member of the Guyana Association of Bankers. Mr. Alves has been an officer of the Bank for thirty-five years and currently serves as the Managing Director.
Roy Errol Cheong, a Chartered Insurer by profession, retired on June 30, 2003 as Managing Director of the GTM Group of Companies, but has since been appointed a non-executive Director of the Group. He is a Fellow of the Chartered Insurance Institute and Life Management Institute, and Chartered Life Underwriter. Mr. Cheong has served as President of the Insurance Association of The Caribbean, the Insurance Association of Guyana as well as the Insurance Institute of Guyana. He is the Past President of the Rotary Club of Georgetown and serves on the Executive Committee of the Guyana Red Cross Society. Mr. Cheong also holds Directorships in Banks DIH Limited, Neal & Massey (Guyana) Limited and Mega Insurance Company Limited of Trinidad and Tobago. He is the recipient of the Golden Arrow of Achievement.
Mr. Scott is the Financial Director of William H. Scott Limited of Trinidad and Tobago and has been a Director of Republic Bank’s subsidiary, Republic Finance and Merchant Bank Limited (Fincor), since June 1994. He is also a Fellow of the Chartered Institute of Certified Accounts.
Mr. Carpenter holds a BSc. In Food Sciences and is Managing Director of BEV Processes Incorporated. He is Vice Chairman of the Board of Directors of Hand in Hand Fire and Life Group of Companies.
Nigel M. Baptiste was appointed to the Board of Directors in October 2003. He previously served as Managing Director of NBIC from July 1999 to July 2002. Mr. Baptiste is currently an Executive Director of Republic Bank Limited in Trinidad & Tobago. He is a former Trinidad National Scholar who has distinguished himself as an academic in his career and in the fields of Banking and Economics. He holds a diploma with distinction from the American Banking Association’s Stonier Graduate School and has also successfully completed the Harvard Business School’s Advanced Management Programme. He is a member of the Chartered Institute of Bankers of England. He is also the former President of the Institute of Bankers, Trinidad and Tobago.
Mr. Derwin M. Howell joined the Republic Bank Group in May 1997 and currently holds the position of General Manager – Commercial and Retail Banking (since January 2006) having previously served as General Manager – Information Technology Management and General Manager – Business Transformation. From April 1994, prior to joining Republic Bank Limited, Mr. Howell was the General Manager of InfoLink Services Limited, the company which manages the LINX® ABM Sharing and Debit at Point of Sale Networks. He also spent an eleven (11) year period at Telecommunications Systems of Trinidad and Tobago Limited, where he held several management positions.
Mr. Howell is a First Class Honours graduate in Electrical Engineering and also holds an Executive Masters’ in Business Administration, both from the University of the West Indies. He is also a graduate of the University of Essex where he was awarded an MSc. in Telecommunications Systems. He has attended the ABA Stonier Graduate School of Banking and in May 2004, Mr. Howell completed the Advanced Management Program at the Harvard Business School. Mr. Howell also serves on the Board of Directors of G4S Holdings (Trinidad) Limited, National Enterprises Limited, Caribbean New Media Group Limited and Telecommunications Services of Trinidad and Tobago Limited and is a Corporate Member of the Institution of Engineering and Technology (M.I.E.T.), a Member of the Engineering Council of the United Kingdom (Chartered Engineer) and a Member of the Institute of Electrical and Electronic Engineers (M.I.E.E.E.)
Richard I. Vasconcellos is currently a member of the National Notary Association of the United States of America and American Management Association. He is the Chairman of A.N.K Enterprises Incorporated in Miami, Florida, and the Director of Florida Export Finance Corporation (F.E.F.C.).
Managing Director John N. Alves, F.I.C.B
General Manager, Credit Patricia Plummer, F.I.C.B
General Manager, Corporate & Management Services Denise E. Hobbs, Bus. Management, Admin. Diploma
Manager, Branch Operations Devan Khemraj, AICB, ACCA, B. Sc. Applied Accounting(Hons) Senior Manager, Corporate and Commercial Credit Sasenarain Jagnanan, Diploma Banking and Finance, A.I.C.B Corporate Manager, Corporate and Commercial Credit Charles Bruton, B.Sc. Economics Corporate Manager, Corporate and Commercial Credit Carla Roberts, B.Sc. Accountancy
Manager, Human Resources Anita Mohabeer
Manager, Finance and Planning (ag) Vanessa Thompson, ACCA, B.Sc. Management
Manager, Marketing and Communications Michelle H. Johnson, MCIPR, MACC (Dist), PG Dip CIPR, B Soc Sc. Management (Hons.)
Manager, Legal Services Christine A. McGowan, LLM (Merit), LLB(Dist.), L.E.C. (Hons.) Manager, Information Technology Yonette Greaves, IMIS –Diploma/ Higher Diploma –Inst. Mang.Information Systems
Manager, Corporate Operations Denys Benjamin
Manager, Water Street Operations Jadoonauth Persaud, Diploma (Banking and Finance)
Manager, Branch Support Services Celine Davis, ICB Letter of Accomplishment, B. Soc. Sc.(Management)
Rosignol Branch 31-32 Public Road Rosignol West Bank Berbice Telephone: (592- 330-2219,2680,2683 FAX: (592) - 330-2681 E-mail: email@republicguyana.com
Rose Hall Branch 29 Public Road Rose Hall, Corentyne Berbice Telephone: (592) - 337-4300,4500,4550 FAX: (592) - 337-4424 E-mail: email@republicguyana.com
Corriverton Branch Lot 5 #78 Corriverton Corentyne Berbice Telephone:(592) - 335-3351, 3354, 3376 FAX: (592) - 335-3092 E-mail: email@republicguyana.com
Manager Harry Dass Ghaness, ICB- Letter of Accomplishment
Linden Branch 101-102 Republic Avenue Mackenzie Linden Telephone: (592)444-6951,6952,6090,6001 FAX: (592)444-6008 E-mail: email@republicguyana.com
Anna Regina Branch Lot 6 Pubic Road Anna Regina Essequibo Coast Telephone: (592) - 771-4171,4778,4779 FAX: (592) -771-4085 E-mail: email@republicguyana.com
Officer- in- Charge Guitree Ramsamooj
Vreed-en-Hoop Branch 27 ‘C’ Stelling Road, Vreed-en-Hoop West Coast Demerara Telephone (592) - 264-3106 ,264-3107, 264-3108, 264-2367 FAX: (592) - 264-2605 E-mail:email@republicguyana.com
New Amsterdam Branch 31-32 Public Road Rosignol West Bank Berbice Telephone: (592)- 333-2633,2639,2706 FAX: (592) - 333-3432 E-mail: email@republicguyana.com