June 11th, 2021:- Grenada Development Bank views its most important achievement for 2020 - its 55th year, as its ability to successfully engage and effectively respond to the needs of its valued customers during the height of the COVID-19 pandemic. By providing various relief measures to those in need it remained rooted to its mandate of championing the development imperative of the country in alignment with the Sustainable Development Goals (SDGs) 2035.
Fundamental to the Bank’s performance in 2020 was its ability to disburse over $15M to the critical sectors of the economy which was invaluable in kick-starting the country’s economic recovery process. Consequently, and despite the severe economic effect of COVID-19, a loan portfolio growth of over 9% was manifested, an irrefutable contribution towards a profitable year; ultimately allowing the Bank to declare dividends of $47,453.00 to the Government of Grenada.
The Bank’s ability to approve 97% of its loans within the required timeframe was vital to a positive customer experience, and significant emphasis continues to be placed on efficient and customer focused service delivery.
Being cognisant that the devastating impact of the pandemic is still being experienced by some customers, the Bank will continue to extend the appropriate relief to enable the survival of businesses and afford relative peace of mind for all customers in general. Concurrently the Bank will provide relevant funding with the appropriate terms and conditions to bolster the economic recovery of the identified critical sectors of the economy.
The Grenada Development Bank reaffirms its commitment to our shareholder and customers alike and will continue our focus on areas that represent the best opportunities for the Bank, the Grenadian people and the economy. We will remain steadfast in our efforts to ensure that we significantly aid in the economic recovery of the country and deliver on our strategic goals.