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Chairman Message

The world is in the midst of a global financial meltdown resulting in a recession of a severity not seen in over 5 decades. It is now becoming evident that the cause of this crisis is largely over consumption in the west coupled with irresponsible regulation of financial institutions in America & Europe.

The ripple effect of this financial crisis has also reached India and has severely affected the stock market, real estate development and export oriented industries.

The common man though insulated by the demand in domestic production and consumption, has also been affected by this recession in varying degrees.

We, at Guardian bank believe that the Indian economy will be relatively less affected than others due to our massive domestic demand and our huge development needs driving global investment into India. I therefore, feel that this recession is a temporary one and should largely be viewed as a time for consolidation in preparation for the next phase of growth.

God teaches us through nature to humbly accept the inevitability of seasons that govern the natural cycles of growth, stagnation, decay and growth again. Economic cycles too are a well known phenomenon.

Guardian Bank as an institution is determined to not only weather these difficult times but also provide the appropriate support to members of our community.  Therefore, prudent financial management means not only maximizing our resources to our benefit during the good times but also minimizing wasteful expenditure and preparing oneself for the downturn when it comes.

In the same vein of thought when we are in the downturn, it is important to believe that these difficult times are short lived and must be endured in anticipation of good times to follow.

The formation of the new government at the centre with a decisive mandate from the public is a significant step towards recovery and the revival phase. We believe the worst is over and with our faith in God, we should be well positioned to benefit from the coming opportunities of growth.

Collin Timms
Chairman
Guardian Bank