Trinidad & Tobago Best Bank: Royal Bank of Trinidad & Tobago
Bahamas I Bardados I Bermuda I Dominician Republic I Jamaica I Trinidad & Tobago I Costa Rica I El Salvador I Guatemala I Honduras I Nicaragua I Panama I Argentina I Bolivia I Brazil I Chile I Colombia I Ecuador I Mexico I Paraguay I Peru I Uruguay I Venezuela
At the end of 2005, Royal Bank of Trinidad & Tobago Financial Group secured the largest-ever syndicated loan in the Caribbean by obtaining a revolving three-year, $140 million loan, setting a precedent for other banks to reach such relatively long-term funding. Investors applauded the deal and Fitch recently upgraded RBTT to BBB, noting the bank’s solid finances. The bank, which has launched an impressive programme of regional expansion in recent years, now operates across 13 different nations in the Caribbean and central America. It recorded an 11% rise in core pre-tax profits to $190 million at the end of its financial year in March, excluding non-recurring transactions. Total assets grew 9% to $6.5 billion, with loans and advances increasing 14% to $3.1 billion. Customers’ deposits and other interest bearing liabilities grew 16% to slightly more than $5 billion. Non-performing assets to total assets fell to below 3%.