Banking

In the face of economic sluggishness in 2019, Trinidad and Tobago’s banking sector showed continued consolidation and resilience. As the sector plays an increasingly critical role in the country’s diversification progress, executives are focused on supporting small and medium-sized enterprises. In the near term, domestic banks are seeking to hone their competitive edge and enhance their capacity for dealing with digitalisation as personal finance needs evolve. Overall, releasing the potential of non-energy sectors via structural reforms will pave the way to develop an economy equipped with greater financial clout. Increasing the ease of doing business, reducing administrative and unproductive barriers to investment, and assuming better flexibility in response to rising global competition would also aid the country in fostering durable growth over the longer term. This chapter contains interviews with Nigel Baptiste, CEO, Republic Financial Holdings; and Ronald Carter, CEO and Chief Country Officer, JMMB Bank TT.