Demerara Bank opens Rose Hall branch
Yesu Persaud calls on political leaders to sink 'silly and stupid differences'
Stabroek News
February 7, 2004
Chairman of Demerara Bank Limited and business magnate, Yesu Persaud, at the commissioning of the bank's first branch at Rose Hall on the lower Corentyne on Wednesday, criticised the country's political leaders.
Persaud, speaking before Prime Minister Sam Hinds, emphasised the need for the creation of jobs across the country but expressed the hope that "our political masters would sink their stupid and silly differences they have and think of the common good....you the people of Guyana first and politics second. If they don't, then what are your politics about - division and destruction?" he asked rhetorically.
The bank is housed in a building formerly occupied by a branch of the now defunct Guyana National Co-operative Bank (GNCB) and is manned by nine staff members.
According to the Chairman, "the bank intends to provide Berbicians with a satisfactory service with the greatest of courtesy, humility and efficiency." He was however quick to point out that there is need for political stability in Guyana to attract investment.
"A stable economy and political stability will bring investments. However without this there will be no jobs and we need to create jobs for our people." Persaud contended that "if we could get political stability, economic development could transform Guyana within five years," adding that this view was based on his knowledge of Guyana, its people and their potential. Demerara Distillers Limited (DDL) and Demerara Bank, he said, have been creating jobs "in our own humble way and we have become one of the largest employers in the country."
The simple mid-afternoon ceremony was attended by Regional Chairman Kumkarran Ramdass, the Bank's Directors, the Mayor of Rose Hall, the High Commissioner of India and the Deputy Head of Mission of the US Embassy and a small gathering of businesspersons from across the region.
Unfortunately the air-conditioning in the building was hit by fluctuations in the power supply creating much discomfort for those in attendance. Persaud told the gathering that DDL "was here to stay for the long term and intends to use Guyana as the cradle of production and supply for its markets globally.
"In the area of banking," he noted, "we have succeeded beyond our wildest expectations." He urged Berbicians to support the bank's operations in the region.
Prime Minister Hinds in his address described the opening of the branch as "another step in the progress and development of Demerara Bank and Guyana" and commended those responsible for its establishment. The bank, he said, was an example "which gives us hope for the country's accelerated development," pointing out that "things have been happening in Guyana but not necessarily at the rate which most people expect."
"Demerara Bank having probably read the future in light of expectations of an oil find in the region, has positioned itself in Berbice in a timely way by establishing this branch" he remarked.
Regional Chairman Kumkarran Ramdass in welcoming the bank to the region, opined that "the banking sector has an important role to play in Guyana's development. This branch is an indication of the confidence that the banking sector has in Berbice, a region which has tremendous potential." According to Ramdass his role as chairman "is to create an enabling environment to allow all to work towards regional and national development." He agreed that there was need for political and social stability saying "we have to search for solutions to the difficulties we face as a nation." He added that he was confident the branch will provide an excellent service to its customers. Chairman of the proceedings was Oliver Valz, a Director of the Bank, while the welcome was delivered by Pravinchandra Dave, Chief Executive Officer of Demerara Bank. The Prime Minister unveiled a plaque to officially declare the branch open.