April 29, 2004
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.
T&T's Republic Bank waded into the
Dominican Republic late last year.
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.
Caribbean banks are looking for scale as they assume more aggressive pan-regional strategies. Trinidadian players are leading the pack.