Demerara Bank Limited has announced the retirement of its Chief Executive Officer, Pravinchandra Dave.
Joining the bank on July 1, 2001 as an international banker, with vast knowledge in banking operation especially in the areas of investment and credit, Dave adeptly guided its growth, transforming it into great success and being one of the best financial institutions in Guyana.
In a press release on Friday, the bank said that when Dave joined, the bank was a one branch operation with an asset size of G$11 billion and net profit of G$107 million, and today the bank has nine branches countrywide with a modern platform in technology, assets of over G$150 billion and profit greater than G$4 billion as at September 2023.
According to the bank, a pioneer behind the institution’s bold leap into the digital era, Dave has spearheaded innovative initiatives that have revolutionised the traditional banking landscape.His tenure, the bank stated, has witnessed the rise of a robust and skilled management team, a testament to his commitment to nurturing talent and fostering professional growth culminating in the appointment of the bank’s new CEO, Dowlat Parbhu.
Parbhu, a son of the soil, has been with the bank since 2007, serving in various capacities, with the general manager being the most recent. Under the guidance of Dave, Parbhu has been an integral part of the bank’s success story and his capabilities and strategic insights have significantly contributed to the bank’s growth and financial prowess.
Parbhu expressed enthusiasm, stating, “I am honoured to lead Demerara Bank Limited and look forward to building on the incredible legacy established by Mr Dave.”