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Economic troubles weigh on Caribbean banks

Bank earnings across the Caribbean are down, as the region's lenders continue to struggle against a difficult economic backdrop. But there are still some bright spots, with a handful of banks managing to boost their asset base and retain impressive profitability.
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Economic troubles weigh on Caribbean banks

Trinidad and Tobago’s RBC Financial Caribbean maintains the leading position in The Banker’s Caribbean community (Caricom) ranking by Tier 1 capital, with a total of $2.73bn. It is one of four Trinidadian banks in the top 10, with Republic Bank, First Citizens and Scotiabank in third, fifth and seventh place, respectively.

The country's strong presence in the ranking is unsurprising as it remains the largest financial centre in the Caricom region in terms of its banking sector. Trinidad and Tobago’s lenders account for nearly 50% of the region’s total Tier 1 capital, 43% of total assets and about 40% of total pre-tax profits.

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Silvia Pavoni is editor in chief of The Banker. Silvia also serves as an advisory board member for the Women of the Future Programme and for the European Risk Management Council, and is part of the London council of non-profit WILL, Women in Leadership in Latin America. In 2019, she was awarded an honorary fellowship by City University of London.
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