Awards for Excellence 2008: Trinidad and Tobago

In October, Royal Bank of Canada (RBC) added Royal Bank of Trinidad and Tobago (RBTT) to its set-up in the Caribbean. The Canadian bank announced a $2.2 billion acquisition of RBTT Financial Group. RBTT started discussions with potential buyers in April 2007. These included Canadian rivals Scotiabank and CIBC, through its FirstCaribbean unit. RBC is paying 60% cash and 40% in RBC shares. The combined entity now boasts $13.7 billion in assets and 130 branches in 18 Caribbean countries and territories.