Trinidad and Tobago’s banking sector is by far the largest in the Caribbean, with about half of regional assets and Tier 1 capital being held locally, and lenders based in the country are proud to highlight its strength and stability.
“Total assets are in excess of $25bn, the capitalisation ratio for most banks exceeds minimum 8% by [some distance], many banks are rated by Standard & Poor's and Moody’s, and some of the banks have been in operation for more than 175 years,” says Larry Nath, president of the Bankers Association of Trinidad and Tobago and chief executive of First Citizens Bank. While formerly state-owned First Citizens was created only in 1993 to gradually bring together the assets of other banks, and listed on the local stock exchange last year, the other large locally owned lender, Republic Bank, was founded in 1837, under the name of Colonial Bank.
