From left: Richard Hoad, Ian De Souza (second from left), Gercine Carter and Stephanie Barnett in conversation.

BUSINESS MONDAY - Successful Christmas loans promotion

Republic Bank’s CEO praises staff for job well done


CHRISTMAS 2016 was thought to be a low keyed period for spending by Barbadians given the tight economic conditions. However, that certainly was not the case as Republic Bank Barbados Limited has found out with its Christmas loans promotion.
The Bank’s Managing Director and CEO, Ian De Souza said that the loans’ campaign using a home-grown promotion and built around the Jingle ‘Maizie’ (from the song penned by Red Plastic Bag) was a huge success.
Speaking Friday night at the Bank’s end of year event at Royal Westmoreland, De Souza said that the campaign started in November during the 50th anniversary celebration of Barbados Independence.
Stating that the Bank set a target for the campaign, De Souza declared: “I am so happy to report that by December 31, Republic Bank (Barbados) hit 173 per cent of its Christmas loans target.”
He continued, “That is all because of the team, the team- work, the people, the management and the staff that we have in this organisation”.
De Souza also spoke about how the contribution of the staff and management continue to make to Republic Bank’s success in Barbados.
He told the audience of media personnel and other invited guests that the Gallup survey has a benchmark of 67 per cent for high performing companies in terms of employee engagement.
According to him, when they started the year (2016) the bank was at 61 per cent. The CEO added that based on what took place, their ranking moved from the 61 per cent to 66 per cent – just under one percentage point  from the benchmark of 67 per cent.
De Souza said he is very happy to report that Republic Bank (Barbados Limited) has continued to perform in an exceptional manner. 
“The fact of the matter is that I am extremely proud of the staff. We could not have produced the kinds of results we have been producing without the management team and the staff.”  
He said that in terms of customer service, since 2014 they have continued to hold the position of number one bank in Barbados. 
He further revealed that the financial institution is the first Bank to lower mortgage rates to four per cent.
“We set a target of $35 million for new mortgages and the Bank actually booked $42 million for the 117 mortgages,” De Souza  remarked.

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