Correction, addition and appreciation
In last week’s column I stated as the year in which the Government of Guyana took over the assets, liabilities and operations of the Royal Bank of Canada as 1994. In fact the year was 1984. And I omitted to note that the percentage of the shares in the Guyana Bank for Trade and Industry Limited (GBTI) held and sold in 1994 by the Government of Guyana to the Beharry Group was 30% at a price of G$15 per share.
Finally I would like to express my appreciation to the Republic Bank (Guyana) Limited, GBTI, the Bank of Nova Scotia and Demerara Bank Limited which responded to my short survey for information for this column. I find it particularly disappointing that Citizens Bank Limited, the principal banker of Ram & McRae did not respond to the survey. I thank as well Mr Rajendra Rampersaud of the Bank of Guyana for making available information from the BoG’s library.
Finally, to the readers of this column warm wishes for a merry Christmas and 2013.
Introduction
Last week I noted how the regulatory and statutory landscape for banking has changed over the past twenty years. The changes have been more than evolutionary, affecting both the operations of the banks as well as the environment in which they operate. Shortly before
