RBTT – Royal Bank of Trinidad & Tobago
RBTT Financial Group, a Caribbean powerhouse offering a wide array of financial services, has won the award again this year because of its continued impressive growth and profitability and its restructuring efforts.
It posted a 19% increase in net profit and an ROE of 25% last year, while keeping its cost-to-income ratio less than 60%. Assets grew 5.74% and Tier 1 capital rose 16.5%.
Last year was RBTT’s 100th anniversary as a Caribbean bank and it undertook a huge rebranding effort. During the year, it brought its nine banks and 79 branches in 11 jurisdictions under the RBTT brand name, giving it a considerable market advantage. RBTT is among the top three banks in each of the jurisdictions where it does business.
The group made great progress in consolidating its IT operations in the various jurisdictions, including Dutch, eastern Caribbean, Jamaica and Trinidad, onto one platform. Many of these operations are now managed out of the group’s headquarters in Trinidad & Tobago.
Peter J. July, group chairman of RBTT Group, said: “RBTT has enjoyed tremendous success as a result of the execution of its strategy to expand and diversify its operations through the programme of acquisition.
“We have built a strong franchise across the Caribbean, reflected in the asset size of the group and are committed to pursuing attractive opportunities to expand regionally and extra regionally. I am confident that as we continue to build and manage the group, the vision that we all share, the enthusiasm we all have and the strength and diversity of our multi-cultural organisation will be the keys to our future accomplishments.”
