High-level discussions are scheduled with top officials of the Bank of Baroda, the Indian government and other financial stakeholders next week. According to the Department of Public Information (DPI), Guyana’s Minister of Finance, Winston Jordan and the Governor of the Bank of Guyana, Dr. Gobind Ganga, will depart today (Friday, November 22) for Mumbai, India to meet officials at the Baroda Bank’s Headquarters.
Minister Jordan explained the meetings are, “pertaining to operations in Guyana and how they can better serve the community in light of oil and gas sector.”
The Finance Minister said the occasion will also be used to conduct meetings with the Bank of India, the EXIM Bank of India and others. The trip is sponsored by the Bank of Baroda and entails some four days of scheduled meetings, DPI said.
The Bank of Baroda has two branches locally, and 9,583 branches worldwide with 69 million customers. The Guyana subsidiary’s total business stood at almost $15B at the end of September 2018, down from $21B at the end of March 2017, and $21B at the end of March 2016.
In late 2018, moves were afoot to sell the bank’s local operation. This was reversed following the announcement of the discovery of oil.