Weathering this storm with you

Who would have thought that in a few months, simple gestures, such as a handshake or a tender embrace would become taboo? Instead of being close to our friends and family to show how much we love them, we must now physically distance ourselves from them to show how much we care.

Without a shadow of a doubt, COVID-19 has upended our lives in a way that no one could have imagined. Now that the virus has spread to almost every country, infecting over 2 million people, exhausting health care systems and crashing economies, some might say, and rightfully so, that it is too soon to be thinking about life after COVID-19. With 67 confirmed cases and 7 deaths locally, many of us would have been directly touched by the impact of this virus. Sadly, there is no instruction manual or google search to tell us how to deal with our emotions or how to handle a human tragedy of this magnitude, and it is quite understandable that many of us are desperate to regain a semblance of control over our lives. I myself am desperate to return to a sense of normalcy, but like many of you, must remain resolute for those who are in my purview, including my colleagues and you – my extended Republic Family.

WE WILL ALWAYS BE THE ONE FOR YOU

At this time, I would like to underscore our commitment to you as we fulfill our responsibility as your financial partners. In March, we introduced several debt alleviation packages to ease your financial burden, including the 6-month moratorium on all loans, waivers of fees and penalties and reduction in interest rate on loans and credit cards. I hope that you utilize the full potential of these liquidity alleviation packages as they have been carefully curated to bring ease and assurance to you during these uncertain times. Once the cashflow demands have been ameliorated, let us begin talking about the medium/long term solutions to accommodate your future success. Please email your branch or account Manager as early as practical for you.

Part of our mandate has always been to exercise our corporate social responsibility and provide aid to the communities we serve, and while we have expressed our commitment to our clients in overcoming their economic challenges, we also understand the social challenges being faced by the population and the dedicated frontline and health care workers. Recently, our parent company, Republic Financial Holdings Limited, approved the equivalent of a US$2million contribution to be shared collectively across all the territories in which it maintains its operations. Of this amount, Republic Bank (Guyana) Limited will contribute $31.5 million for our national effort through the Ministry of Public Health.

ENSURING SERVICE CONTINUITY

While we recognise our critical role in ensuring that essential services remain unaffected, we have made the difficult decision to reduce our branch opening hours and services in the best interest of our clients and staff but assure you that we remain operational to better serve you and satisfy the exceptional customer service you have grown accustomed to. I encourage everyone to use this opportunity to join our Republic Online community by signing up now at www.republicguyana.com. The entire signup process can be completed remotely.

While we await guidance from the experts, we will continue to provide assistance, be it financial or otherwise to those we have been entrusted to serve. I trust that you and your family are staying safe during these perilous times, and following the guidelines set out by those who are charged with the responsibility of securing our safety. Remember the acclaimed Sufi saying, this too will pass!

On behalf of the Republic Family, our thoughts and prayers are with you all.

#WeAreTheOneForYou
#WeAreInThisTogether
#StaySafe

Amral F. Khan
Managing Director