Republic Bank (Guyana) Limited was formed in 1836 as the British Guiana Bank, which was the first commercial bank in
British Guiana
British Guiana was a British colony, part of the mainland British West Indies. It was located on the northern coast of South America. Since 1966 it has been known as the independent nation of Guyana.
The first known Europeans to encounter Guia ...
, now
Guyana
Guyana, officially the Co-operative Republic of Guyana, is a country on the northern coast of South America, part of the historic British West Indies. entry "Guyana" Georgetown, Guyana, Georgetown is the capital of Guyana and is also the co ...
. As of 2024 it has 12 branches and 52 Automated Teller Machines (ATMs).
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History
In 1984, major foreign banks were nationalized: RBC became National Bank of Industry and Commerce (NBIC), Chase Manhattan Bank
JPMorgan Chase Bank, N.A., doing business as Chase, is an American national bank headquartered in New York City that constitutes the consumer and commercial banking subsidiary of the U.S. multinational banking and financial services holding ...
became Republic Bank, and Barclays changed to Guyana Bank for Trade and Industry Ltd. (GBTI). Republic Bank was later merged with GBTI.
In 1991 after an IMF Economic Recovery Programme initiated broad economic change to the country, shifting from the socialist policies to those of free markets, the government started selling shares of GBTI, and by 1994 it was entirely privately owned. Republic Bank
Republic Bank Limited is a Caribbean financial institution headquartered in Trinidad and Tobago. It has operations in Anguilla, Barbados, the British Virgin Islands, the Cayman Islands, Dominica, Ghana, Grenada, Guyana, Saint Kitts and Nevis, St. ...
, headquartered in Trinidad and Tobago
Trinidad and Tobago, officially the Republic of Trinidad and Tobago, is the southernmost island country in the Caribbean, comprising the main islands of Trinidad and Tobago, along with several List of islands of Trinidad and Tobago, smaller i ...
, purchased the majority of shares of NBIC to become Republic Bank (Guyana) after recovering rights to the name from GTBI.
Republic Bank acquired Scotiabank
The Bank of Nova Scotia (), operating as Scotiabank (), is a Canadian multinational corporation, multinational banking and financial services company headquartered in Toronto, Ontario. One of Canada's Big Five (banks), Big Five banks, it is the ...
operations in Guyana in 2019, which increased Republic Bank's share of Guyana's assets and deposits to 51%.
References
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External links
Guyana's banks prepare for boom
Banks of Guyana
Companies of Guyana
1836 establishments in South America