PRIME MINISTER P.J. Patterson has lauded the Development Bank of Jamaica (DBJ) for the exemplary role it has played in facilitating development and growth in the country's productive sector.
Mr. Patterson, who delivering the keynote address at the bank's long service awards dinner held at the Pegasus Hotel on Friday night, said "the bank has performed admirably. It is financially sound and has maintained the solvency and overall financial strength required to attract funding from overseas as well as domestic creditors."
VIGOROUS GROWTH
The tourism, agricultural and agro-industrial and the manufacturing sectors have been the major beneficiaries of the loans which are granted by the institution. "The vigorous growth and strength of those two sectors is in large measure, a reflection of this support by the DBJ," Mr. Patterson noted.
Furthermore, he said the DBJ has distinguished itself as a co-ordinator of a number of Government-designated projects, most notably the construction of multi-million dollar Highway 2000 Project.
The bank's financial record for the first 10 months of the current financial year stands at $446.5 million in net profit. This is compared with the $1.175 billion in net profits it made in the last financial year, with total assets standing at about $24.6 billion.
At the grand gala affair, the DBJ honoured over 50 of its 70 members of staff for service to the institution for between 10 and 20 and more years.
With the majority of the staff being honoured for long service, Mr. Patterson said it was something to be commended.
"Every single member of staff is highly valued as a true partner in the success of the institution, its clients and other stakeholders whom they serve with professional performance and pride," he said.
