The Guyana Bank for Trade and Industry (GBTI) has registered an after-tax profit of $1.103 billion for the first six months of this year but its Chairman says a more conservative approach has been taken this year in lending, pointing to a series of challenges to the economy.
Chairman Robin Stoby in remarks accompanying the bank’s financials in yesterday’s Stabroek News said that with the fall of gold prices many miners have left the sector permanently or temporarily. Stoby’s assertion will add to the growing view that lower gold declarations this year are a result of miners leaving the sector because of narrowing margins rather than hoarding or smuggling.
Noting that the global economic recovery had improved over the last six months and had come
