The government and the National Bank of Industry and Commerce (NBIC) yesterday signed the 10% deposit agreement for the sale of the assets of the Guyana National Co-operative Bank (GNCB), bringing the conclusion of the deal a step closer.
NBIC’s $2.7B for GNCB was approved by Cabinet earlier this month.
Sources say the next step is for the Office of the Auditor General to certify GNCB’s balance sheet for the finalisation of the deal.
Sources close to GNCB say that with the signing of the deposit agreement workers would want to see a conclusion to their severance pay negotiations and clearer information from NBIC on how many of them might be retained to operate branches in areas where NBIC does not have a presence.