Press Releases
April - June 2009

• Republic Bank Slashes Prime Lending Rate
• Republic Sponsors UWI Students
• Republic Bank Workshop Empowers Local Sole Traders
• Debe Hindu Wins Championship Trophy
• Republic's first Home Improvement Expo
• Republic Bank Junior Golf Clinic
• Republic Welcomes Customers To Trincity
• Junior Tassa Taal
• BAHSETCE bus gets a facelift
• Republic Bank offices close on April 17

Port of Spain, Trinidad: June 29, 2009: In an unprecedented move Republic Bank Limited today announced its decision to radically slash its Prime Lending Rate by a 125 basis points to 11% with effect from July 1, 2009.  According to the Bank’s Managing Director, David Dulal-Whiteway, the decision was in keeping with its commitment to stimulate economic activity in the financial system.

The Central Bank of Trinidad and Tobago on Friday (June 26th) announced a reduction in its Repo rate by 50 basis points to 7.5%.  This latest reduction followed on the heels of a 50 basis points reduction in Repo in April, 2009, at which time Republic Bank dropped its Prime lending rate by half a percent, the highest among commercial banks on that occasion.

According to Dulal-Whiteway Republic Bank expects that there will be further reductions in the Repo rate in the coming months and in anticipation took the decision to immediately offer the benefit to customers , by making this unparalleled reduction by 1.25% and not by the corresponding reduction in Repo.  Dulal-Whiteway stressed that since this move was being undertaken in anticipation of future changes in Repo, it was unlikely that future actual changes in Repo would result in any further reductions in Prime by the Bank.

The Prime Lending rate is the most attractive rate offered by banks to their commercial and corporate customers. Dulal-Whiteway explained that a substantial reduction in the prime lending rate, such as the one being made by Republic Bank will in effect substantially reduce the cost of borrowing to businesses whose loans are tied to Prime, and ultimately reduce the cost of the goods and services that they provide to the national community. Dulal-Whiteway expressed the view that this move was consistent with the spirit of what the Monetary Authorities were trying to achieve.

Dulal-Whiteway revealed that persons seeking loans or mortgages to purchase property will also benefit from the Bank’s reduction in Prime, as reductions in these rates as well as in retail rates are also being made by the Bank, thereby also reducing the cost of borrowing for retail customers, making loans more affordable. 

Travis Sammy Daniel of the Republic Bank UWI branch (front row, fourth from right) and Republic Bank Customer Relationship Officer, Danielle Habib (front, second from left) stand with 13 of 15 UWI students who received Career Builder Awards sponsored by Republic Bank.

Port of Spain, Trinidad, June 17, 2009:
Janine Akow, Navida Bachan, Keneca Cato, Darren Coppin, Jinell John, Nyla Kalliecharan, Nadia Lorick, Crystal Mohammed, Akeem Rahaman, Ana Ramdass, Ryan Ramdath, Curtis Ramkissoon, Latoyaa Roberts, Shannon Seepersad and Rishi Sooknanan each received Republic Bank Career Builder Awards valued at $5,000 each in the 2008/2009 Undergraduate Awards. The students each possess a Republic Bank Career Builder Account and have been maintaining a high grade average.

A cross section of the workshop attendees.

Port of Spain, Trinidad, Monday, June 15, 2009: Members of the local Sole Trader community capitalised on a unique Financial Training workshop hosted by Republic Bank on Tuesday June 9, at the Bank’s Head Office on Park Street.

With comprehensive presentations, informed analyses and many networking opportunities, the Workshop was designed to further assist sole traders and small business owners in the finer points of basic financial documentation and sound business processes.

Featured speakers on the day Pria Narinesingh, Senior Partner, Ernst & Young, Wayne Ouditt, CEO, International Quality Solutions Ltd and Martin Oliver, owner of Oliver Signs Limited, shared their experiences and knowledge with over 45 specially invited business owners.

Their presentations ran the gamut of topics and included helpful tips on documentation requirements for sole traders and doing business in the current economic environment. Established business owner, Oliver, also provided an engaging anecdotal session on how his business survived the downturn in the eighties.

In his welcome address, General Manager, Commercial and Retail Banking, Derwin Howell, outlined some of the innovative techniques that the Bank uses to provide its commercial customers with the tools and knowledge to better monitor and manage their businesses.

“As your partners, we see it as our duty to kit out our customers, business leaders and entrepreneurs with the resources necessary for survival, development and prosperity; and, this duty we take very seriously.”

“That is the rationale behind the various successful projects that we have hosted for the SME sector – ranging from our Commercial Customer Business Programme, also hosted with the Arthur Lok Jack Graduate School of Business, to our Breakfast Seminar Series, which covers the length and breath of our twin island nation,” he added.

Reiterating the Bank’s underlying principle to the audience, Executive Director, Nigel Baptiste said, “We are pleased to have facilitated the kind of initiative where we could work in tandem to build on an already rock-solid relationship and unlock your potential, help you achieve more and realise the type of success that you want”.

Republic Bank is pleased to host this workshop, believing that as the participants benefited tremendously, from the training and interaction with the presenters, it has also strengthened its relationship with an empowered local SME sector.

All-Round winners: Two teachers from the Debe Hindu School pose for a photo with Managing Director of Republic Bank, David Dulal-Whiteway. The School won the trophies for Best All-Round School and the Group A Championship.

Freeport1: Dancers from Freeport Hindu School perform their winning piece. The School won first place in the Dance competition.

Token: Secretary General of the Sanatan Dharma Maha Sabha, Satnarayan Maharaj (right), presents a token of appreciation to Managing Director of Republic Bank, David Dulal-Whiteway. The Bank sponsored the Festival to the amount of $250,000.

Port of Spain, Trinidad, June 10, 2009: Debe Hindu School walked away with $5000 and the Group A Championship Trophy at the 2009 Baal Vikaas Vihaar Festival, held at the headquarters of the Sanatan Dharma Maha Sabha, St. Augustine, on June 7.
The Festival, which has been hosted by the Sanatan Dharma Maha Sabha for the past 24 years, was sponsored this year for the first time by Republic Bank, to the amount of $250,000, as part of the Bank’s Power to Make a Difference Programme.  
In second place was Felicity Hindu School, followed in third place by Munroe Road Hindu School. Debe Hindu also won the Republic Bank Trophy for the best All-Round School, a category that was first introduced this year. The children came out to give their best at the daylong event and walked away smiling, with or without trophies.
Speaking at the Sunday event, Managing Director of Republic Bank, David Dulal-Whiteway said, “I must say we are pleased and happy to be involved, especially because [the festival] deals with children. Once you put children and culture together, you have a good formula.”
Forty-three primary schools of the Sanatan Dharma Maha Sabha competed in the Festival, which began in March with the Chowtaal Sammelan.
Since then, they took part in other events such as, the Ramayan Quiz, Ramayan Art Competition, Hindi Quiz, Ramayan Test Piece, Gita Slokas, Bhajan Singing, Local Classical Singing, Instrumental, Folk Song and Dance.
When speaking about the months of training and hard work undergone by the children, Secretary General of the Sanatan Dharma Maha Sabha, Satnarayan Maharaj said, “There is no point in teaching our children Mathematics and English if we have not taught them how to live as members of society. Education must be both religious and secular.”

Republic Bank staff member engages the attention of these two customers who visited Republic Bank’s First Home Improvement Expo 2009, which was held at the Trincity Mall’s Southern Atrium. The Expo ran from May 20-23, 2009.

A Ceramic (Trinidad) Limited official assists this customer with some information on the company’s products and services at Republic Bank’s first Home Improvement Expo 2009, held at the Trincity Mall’s Southern Atrium. The Expo ran from May 20-23, 2009. Ceramic (Trinidad) Limited was among the seven (7) merchants who partnered with Republic Bank in hosting the event.

Republic’s first Home Improvement Expo empowers homeowners

Port-of-Spain, Trinidad, June 2, 2009:  Homeowners got more than they bargained for at Republic Bank’s first Home Improvement Expo, which was held at the Trincity Mall’s Southern Atrium during May 20-23, 2009.

The Expo, which carried the theme, ‘Turn Your House into Your Dream Home’, was aimed at creating a ‘One Stop Shop’ for homeowners, as well as to provide a dynamic showcase of Republic Bank’s products and services.

Some of this country’s top merchants; Bhagwansingh’s Hardware Limited, Toyota Limited, Ceramic (Trinidad) Limited, Emerald Kitchen Limited, Lifetime Roofing Limited,  Trinidad Systems Limited and Motion Technologies Limited (a subsidiary of Trinidad Systems Limited), partnered with the Bank, and did not disappoint, as they provided both attractive discounts and free estimates to customers .

Customers also took advantage of the on-the-spot financial advice and relevant information from Republic’s officials.

In sharing the Bank’s vision behind the Home Improvement Expo, Marketing Manager, Product Management, Peter Adam said the Expo was aimed at sensitising the public to the fact that this is the time to ‘get their house in order’.

“Our aim is to continue to work closely with our merchant partners and customers in leveraging the Expo to become a one-stop shop for all their Home Improvement needs.”

Adam added, “We hope that we were able to make Home Improvement much easier, and hassle free with loan accessibility readily available for all those wishing to do renovations or repairs to their homes.”

The Expo follows on the heels of some of the Bank’s other customer-oriented initiatives, including the Mortgage Fair, Commercial Customer Business Programme and Corporate Breakfast Meeting Series.

Republic Bank takes this opportunity to thank all those who supported the Expo.

“Republic Bank’s General Manager, Corporate Operations and Process Improvement, John Tang Nian, tees off, at the first day of the second edition of the Republic Bank RightStart Chaguaramas Junior Golf Clinic 2009. It was held last Saturday, at the Chaguaramas Golf Course, Chaguaramas. Looking on attentively are some of the participants of the golf clinic. The clinic will continue from 8:30am to 4:15pm, every Saturday until July 5, 2009.”

(Trincity View 2) – The New Trincity Branch

(Staff Gathering) – Republic Bank Regional Manager South, Gloria Anthony (far left), Republic Bank Group General Counsel and Corporate Secretary, Jacqueline Quamina (second from left) and Trincity Branch staff members gather moments before the opening of the new branch.

(inner view) – Shortly after the doors opened, it was business as usual in the new branch.

(Susan Williams) – Trincity Branch Sales Manager, Susan Williams, welcomes everyone to the new branch.

Port-of-Spain, Trinidad, May 12, 2009: On May 11, Republic Bank welcomed many curious and excited members of the public to its new, state-of-the-art Trincity Branch.

The new branch, located at 13 Sunrise Corporate Park, Trincity Central Road, Trincity, replaced the one formerly located at Trincity Mall. The branch opened for business at 11am and will operate according to Mall hours, which are 11 am to 6 pm Monday to Friday.

The offices of the Bank’s Corporate Business Centre (CBC) East (currently located at its Valpark and Arima branches) will also be relocated to the new Trincity branch. This office will open on May 18. The Corporate Business Centre East will operate according to their standard opening hours, which are 8 am to 3 pm, Monday to Thursday and 8 am to 5 pm on Friday.

Both this branch and the new Gulf View branch, which will open later this month, have employed a contemporary architectural style of design, with glass facades and open plan layouts. The design is very breezy, inviting and spacious, and the new location provides more than ample secured customer parking. Both branches will also feature the country’s first Access for All Blue Machines, which specifically cater for wheelchair bound persons. These ABMs are the first of their type in Trinidad and Tobago, and make a definitive statement about Republic Bank’s focus on customer satisfaction; its concern for the differently-able members of society and its vision of being the Bank of Choice for Customers, Staff and Shareholders.

The Clarke Rochard Government School, better known as the ‘Chooka Warriors’, receive their challenge trophy and cash prize from Christopher Aird, Manager’s Assistant, Group Marketing and Communications, Republic Bank, at the 1st Republic Bank RightStart Junior Tassa Competition, held at the San Sec Complex, San Francique, Penal, on Wednesday April 29, 2009.

Winners of the Secondary School category of the 1st Republic Bank RightStart Junior Tassa Competition, Shiva Boys Hindu College (A), proudly display their trophy and cash prize with Nirmala Seetaram-Harilal,  Penal Branch Sales Manager, Republic Bank, on Wednesday April, 29, 2009 at the San Sec Complex, San Francique, Penal.

CLARKE ROCHARD AND SHIVA BOYS  WIN TASSA TITLES

Port-of-Spain, Trinidad, May 1, 2009: Tassa faithfuls packed the San Sec Complex in San Francique, Penal on Wednesday April 29, 2009, to witness the crowning of Clarke Rochard Government Primary School and Shiva Boys Hindu College (A), who were judged winners at the first ever Republic Bank RightStart Junior Tassa Competition.

The competition, which featured seven (7) schools in the Penal/ Debe community, was part of the 25th anniversary celebrations of the Bank’s Tassa Taal competition. The Republic Bank RightStart Junior Tassa Competition was instituted to allow young tassa players the opportunity to showcase their talents and musical abilities.

Complete with dancers, the Clarke Rochard Government School band, who wowed both the audience and the judges with their sterling performance, also took home the title of People’s Choice.

The group was awarded the challenge trophy and a cash prize of $1,500.

Second and third place went to the Ramai Trace Hindu Primary School and Penal Government Primary School, who also received trophies and cash prizes of $1,200 and $1,000 respectively.

Clad in cream kurtas (traditional East Indian wear worn by men), the Secondary School based band, Shiva Boys Hindu College (A) beat their way to win the judges nod for first place. They also secured the Best Dressed title.

They also received the challenge trophy and a cash prize of $1,500.

They were closely followed by their colleagues from the Shiva Boys Hindu College ( B) who came in second place.

In sharing the Bank’s vision on the event, Republic Bank, Penal, Branch Sales Manager, Nirmala Seetaram-Harilal said that the Bank will continue to play its part in safeguarding the nation’s cultural resources and by extension give them viable avenues of expression.

“Through the Bank’s social responsibility programme, the Power to Make a Difference, we will continue our commitment to the preservation of this cultural treasure,” Seetaram-Harilal said.

Both schools are expected to appear as guest performers at the Bank’s Tassa Taal competition which is scheduled to take place at the Samar Entertainment Centre, Penal, on May 9, 2009.

Republic takes this opportunity to congratulate all the schools that participated in the event and the Bank wishes them all the best in their musical endeavours.

Republic Bank’s Senior Manager, Group Marketing and Communication, Larry Olton, presents a cheque for the repainting of the school bus to the Director of Bishop Anstey High School East & Trinity College East (BAHSETCE), Paula Daniel, while Chairman of the School Board of Management, Cheryl Greaves (second from right) and other members of the school administration look on.  The ceremony was held at the school’s compound at College Avenue, Trincity in May.

Republic Bank is pleased to have contributed to the repainting of the bus as part of its Power to Make a Difference Programme, aimed at youth development through education. The students were responsible for the design of the bus.

Port-of-Spain, Trinidad, April 14, 2009: Republic Bank Limited announced today that all of its branches will be closed to the public, on Friday April 17, 2009, the first day of the 5th Summit of the Americas.  The Bank took this decision in anticipation of security, operational, logistical and service challenges that are likely to occur during the period of the Summit.

Normal Friday hours (8am-1pm & 3pm-5pm) will apply on Wednesday April 15, 2009 and Thursday April 16, 2009, for all non- mall branches, while mall branches will continue to conduct business as usual.

The Bank advises its customers that they can avail themselves of Night Safe Facilities, Telebanker, RepublicOnline, Electronic Point of Sale Services and Blue Machines conveniently located nation-wide, to conduct their financial transactions.

Republic thanks all its valued customers for their usual co-operation and wishes to apologise for any inconvenience that these temporary adjustments may cause.