RBTT wins top bank award

July

THE Banker, one of the international financial and corporate world's most respected magazines, has awarded Royal Bank of Trinidad and Tobago (RBTT) its prestigious Bank of the Year Award for the region.

The criteria for assessment are decided by the global editorial team of this 75 year old publication. They reflect not only the latest results and performance indicators on financial institutions in 106 countries worldwide, but also encompass information provided by each nominated institution on its achievements and plans for growth.

The Banker described RBTT as "a clear winner because of the way it has developed in the past decade from a domestic bank to a comprehensive regional financial services Group. It has gained strength, stability and added earnings capacity through this geographic diversity."

The magazine went on to praise the Bank's mission to be the Caribbean region's leading financial services provider. This strategy was advanced by RBTT's 20 per cent stake in the Caribbean-wide operations of Guardian Insurance, and the recent acquisitions of ABN AMRO in Suriname and Imminent acquisition in the Netherlands Antilles and Aruba, as well as buying Union Bank of Jamaica. The Bank has established a network to link all of its operations from Suriname to Jamaica, making it possible to conduct electronic banking across the region with centralised data processing in Trinidad.

Said chairman of the RBTT Financial Group, Peter July: "We are the first truly Caribbean financial services provider that has established the ability to compete effectively and successfully with the global ranked players in the industry."

The Banker is a wholly-owned subsidiary of the Financial Times of London.

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