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Awards for Excellence 2009: Trinidad & Tobago

Best Bank: Republic Bank

A conservative approach has paid off for Republic Bank, and this year it takes the crown of best bank in Trinidad and Tobago over rival RBTT. It has been a turbulent year in the country. Concerns about the economy and banking system have spooked bank customers. RBTT announced the loss of 500 jobs, angering locals who were told there would be no job cuts arising from acquisition by RBC. Concerns about a banking collapse also led consumers to pull money out of Republic Bank in February, when the government took control of CL Financial’s stake in Republic. CL Financial, through its subsidiaries, owned a 55% stake in Republic Bank and had to be rescued by a government package.