In 1914 Royal Bank of Canada purchased the British Guiana Bank that had opened in 1836. Royal Bank of Canada became the second foreign-owned commercial bank in the history of the country. The bank was located at 38-40 Water Street, Georgetown at the corner of Robb and Water Streets
During February 1945, the great fire raged through the business sector of Georgetown leaving a number of charred and gutted buildings, including the Royal Bank of Canada. The Bank’s building, which was completely destroyed, also housed the residence of the Manager, Mr. A.D. Machillivray. The Royal Bank building was completely rebuilt in 1948 by Messrs. Sprostons Ltd., and boasted as being the first to be erected after the fire, thus reflecting the bank’s ability to survive despite the most trying of circumstances.
By 1984 after 70 years in Guyana, the Bank had opened 15 branches in Guyana (formerly British Guiana), but closed its operations and sold the bank to the Government of Guyana.