Bank of Baroda has inaugurated a new Head Office and Georgetown Branch for its wholly owned subsidiary, Bank of Baroda (Guyana) Inc., along with the Bank of Baroda Heritage Centre, which showcases the Bank’s legacy and its long association with the country.
The new facility marks six decades of the Bank’s presence in Guyana and reaffirms its commitment to the nation’s economic growth and development.
The Bank began operations in Guyana on March 31, 1966, nearly two months before the country attained independence. In 1999, its local operations were converted into a wholly owned subsidiary, Bank of Baroda (Guyana) Inc. The Bank currently operates two branches in Guyana and remains the only Indian bank with a presence in the country.
The new building and Heritage Centre were inaugurated by His Excellency Dr. Mohamed Irfaan Ali, President of the Co-operative Republic of Guyana. Also present were Dr. Debadatta Chand, Managing Director & CEO, Bank of Baroda; Dr. Ashni Singh, Senior Minister in the Office of the President with responsibility for Finance; His Excellency Chinmoy Naik, High Commissioner of India to Guyana; His Worship Alfred Mentore, Mayor of Georgetown; Dr. Gobind Ganga, Governor of the Bank of Guyana; and Nishant Ranjan, Chairman, Sekhar Moses Mallampati, Director, and Mohit Bhakuni, Managing Director, Bank of Baroda (Guyana) Inc.
Speaking on the occasion, Dr. Debadatta Chand, Managing Director & CEO, Bank of Baroda said, “This is not merely the inauguration of a new building. It represents a renewed commitment, a new beginning and, above all, the strengthening of a relationship that has endured for six decades. Our relationship with Guyana is older than its independence. We have grown alongside this country and have been part of its economic and financial journey. As an Indian bank with deep roots in Guyana, Bank of Baroda is proud to be a financial bridge connecting these two friendly nations.”
Dr. Chand also thanked customers and the wider community for the trust and encouragement that have supported the Bank’s steady growth in recent years. The Bank’s total business in Guyana rose from GYD 28.7 billion in 2022-23 to over GYD 51.2 billion in 2025-26, registering growth of nearly 29% in the latest financial year. Deposits increased by over 31% and advances grew by more than 22%, while net profit reached GYD 774 million. Asset quality also improved significantly, with non-performing assets declining from GYD 314 million to GYD 38 million.
Outlining the Bank’s future priorities, Dr. Chand identified digital payments as a key area of focus, particularly as Guyana introduces its real-time payment system.
He said, “Following the understanding between India and Guyana, efforts are underway to facilitate UPI-based payment capabilities in Guyana. Bank of Baroda would be keen to contribute to this initiative in coordination with NPCI, the relevant authorities and other stakeholders. The recently announced US$500 million Indian credit facility for key development projects in Guyana represents another important milestone in this partnership. Our commitment is simple: We want to grow with Guyana, serve its people and contribute to its prosperity.”
Delivering the featured address, His Excellency Dr. Mohamed Irfaan Ali described Bank of Baroda’s investment in its new Head Office as a strong expression of confidence in Guyana’s economy. He encouraged the Bank to extend greater financial support to small and medium-sized enterprises, highlighting their vital role in creating employment and broadening economic participation. He remarked, “Large investors provide initial momentum. Small businesses provide the breadth, the reach and the staying power.”
The President also urged the Bank to support productive sectors such as agriculture, renewable energy, infrastructure and the oil and gas supply chain, and expressed hope that the new Head Office would become a centre from which businesses are financed, entrepreneurs are supported and new opportunities are created for the people of Guyana.
The event began with a ribbon-cutting ceremony and plaque unveiling by the President and Dr. Chand, followed by the ceremonial lighting of the lamp, a walkthrough of the new banking hall and the inauguration of the Heritage Centre, which chronicles the Bank’s six-decade journey in Guyana. Addresses were delivered by Dr. Debadatta Chand, Mohit Bhakuni and Chinmoy Naik, ahead of the featured address by the President.
Looking ahead, Bank of Baroda sees significant opportunities to deepen its engagement in Guyana across infrastructure, agriculture, renewable energy, SMEs and businesses operating in the oil and gas sector. The Bank also aims to strengthen its digital banking capabilities, payment solutions, trade finance and remittance services to support Guyana’s growing economic and financial ecosystem.
Send news announcements/press releases to:
editor@thefoundermedia.com
