September 1, 2005
Jamaica's NCB is also looking for growth opportunities.
Trinidad & Tobago's financial industry is in ferment. Recently, insurance company Guardian Holdings launched a TT$400 million ($63.8 million) rights issue, Royal Bank of Trinidad & Tobago (RBTT) has expanded into Central America and the republic won an upgrade to A- from Standard & Poor's.
New York investment banks have largely turned their backs on the region. But Trinidadian firms as well as a handful from Barbados and Jamaica are on the acquisition trail. In 2003, RBTT stepped into the Spanish-speaking Caribbean with its purchase of the Dominican
Vast oil wealth has made Trinidad & Tobago the Caribbean's financial center, but limited opportunities at home are driving banks offshore.