Branching Beyond Home Markets
Caribbean banks are looking for scale as they assume more aggressive pan-regional strategies. Trinidadian players are leading the pack.
Trinidad & Tobago is the Caribbean's financial anchor,
with the region's strongest and most adventurous banks. They
have prospered from the country's economic expansion over the
past few years - driven mainly by energy-related
activities. But opportunities at home are limited, so
Trinidadian banks are expanding across the Caribbean.
The country's two largest, Republic Bank and Royal Bank of
Trinidad & Tobago (RBTT), hold 60% of bank assets. Bank
penetration is high, with 1.5 million deposit accounts in a
country of 1.3 million people. "If we want to grow, we have to
grow outside of our geographical space," Ronald Harford,
president of Republic, says. "We are not likely to get much
larger market shares in the territories where we operate, nor
is it particularly desirable in terms of risk." Republic, the
larger of the two banks with assets of $2.41 billion, waded
into the Dominican Republic at the height...
Already have an account?
Subscribe now for unlimited access to all current and archive news, data and market analysis.
Take a free two-week trial now for the latest news, data and market analysis.