Citizens Bank has cut its mortgage interest rate on loans up to $30 million from 4.95 per cent to 4.6 per cent and waived legal and registration-related costs for qualifying borrowers, as it commissioned a new branch in Bartica serving approximately 7,000 customers across Region Seven.
The announcements came as President Irfaan Ali joined bank officials, regional leaders and residents on Friday for the opening of the state-of-the-art facility, which expands financial services and support for residents and businesses in the region.
Ali described the investment as a signal of confidence in the region’s future and Guyana’s continued economic growth. He said he expected Citizens Bank to lay out a strategic plan for driving financial inclusion across villages and communities in Region Seven.
Managing Director and Chief Executive Officer Clifford Reis called the opening “a celebration of progress, confidence and partnership,” noting Bartica’s strategic position as the gateway to the hinterland and a hub for commerce, mining, tourism, agriculture and entrepreneurship.
Citizens Bank first established operations in Bartica on April 3, 2000, from a 938-square-foot office staffed by eight employees. Over the past 26 years, the branch has disbursed more than $5.5 billion in loans for housing, businesses, transportation, equipment and other productive investments, with approximately $1.8 billion approved within the last five years alone.
The new facility includes expanded customer service areas, upgraded banking technology, a drive-thru ATM, improved accessibility features and a dedicated digital support zone for online banking and financial education. Staff numbers have grown from 9 to 17 employees, with Reis noting the operation remains largely locally driven, with staff originating from and returning to serve the region.
Ali also welcomed an invitation for the bank to establish a presence at the planned Government Service Centre in Kamarang to extend services to Upper and Middle Mazaruni communities.
“The greatest measure of any banking system is confidence. Do people trust it? Do businesses trust it? Do investors trust it? The answer is clear. Public confidence in our banking system remains high,” Ali said, adding that the Bartica investment reflects confidence in both the region and the country’s long-term prospects.
