Republic Bank of Trinidad and Tobago originally called the Colonial Bank was established in 1837. In the 1920s it associated with Barclays Bank Limited of England to form Barclays Bank DCO (Dominion, Colonial and Overseas). In the 1970s, Barclays Bank of Trinidad and Tobago was formed. Towards the late 70s majority of the bank's shares were held locally. From 1981 onwards it became
Republic Bank Limited.
The mission of Republic Bank is to provide financial services that are efficient, personalized and competitively priced, and to benefit customers, shareholders, and staff through implementation of sound policies.
Republic Bank Limited, a premier bank in Trinidad and Tobago headquartered in Port-of-Spain, has an employee strength of about 4,500. The bank has an extensive branch network covering the entire Eastern Caribbean region. It has six specialized functional divisions which cater to their individual, commercial and institutional clients.
The functions of Republic Bank Limited are:
- l Foreign exchange management
- l Investment and Securities trading services
- l Asset and trust management
- l Issuance and management of local and international credit cards
- l Invoice and trade financing
In addition to banking the Republic Bank Limited of Trinidad and Tobago has ventured into other financial activities through subsidiary organizations. The subsidiaries of Republic Bank Limited include:
- Republic Finance and Merchant Bank Limited – formed for large-scale property development
- National Commercial Bank of Grenada Limited – a commercial bank operative in Grenada, Petite Martinique and Carriacou
- Republic Bank Trinidad and Tobago (Cayman) Limited – engaged in commercial banking operationsin the Cayman Islands
The
Republic Bank Limited has an asset of US $ 4.9 billion as per March 2005 figures. Profit after taxation for the half year ending March 2005 amounted to US $ 73.3 million.
The
Republic Bank of Trinidad and Tobago has emerged as the leading financial services group in the Caribbean. It is committed to the development of the region and progress of the society.
