Attention of management
As we continue the assessment of the performance of the commercial banks in Guyana, attention turns to Citizens Bank Incorporated (CBI). CBI has been under the control of Banks DIH for more than a decade following the acquisition of 51 per cent ownership by the latter. This effort seeks to understand the business strategy employed by the bank over the past year and to determine the extent to which that strategy affected the performance of the bank. Such an inquiry is useful because there is evidence from the data in the annual report that there were reversals in fortune in several areas of the bank’s operations last year. For example, the bank lost shareholder value in 2014 and would face challenges bringing it back up in the current year. In addition, statements by the Managing Director suggest too that some aspects of operations would require the attention of the bank’s management team.
Important challenge
This is an especially important challenge for CBI because it is the smallest of the four banks that are part of
