Nigel M. Baptiste, President and CEO, Republic Financial Holdings

Financiers in Trinidad and Tobago Look to Adoptive Innovation to Take the Lead in the Caribbean Capital Markets

In an interview with Global Platform, Nigel M Baptiste, President and CEO of Republic Financial Holdings, speaks on putting new technologies to use to serve local clients and sharpen the nation’s competitive edge in the regional market. Outfitted with tools such as blockchain, robotics and e-wallets, the financial services industry in T&T is aiming to adapt to and leverage shifts in the economic terrain, especially as the country moves to reduce its dependence on receipts of exported oil. By getting ahead of the technology curve, financial services could put the nation in a strong position to become a financial hub in the Caribbean. 

Transcript:

The Trinidad and Tobago banks probably have the highest capital ratios in the Caribbean. We average around 23.4% capital adequacy, which is five percentage points greater than any of the other banks in any of the other Caribbean territories. Trinidad has benefitted from what we will have to call a deficit financing by the governments over the last five or six years, which resulted in a build-up of liquidity. However, in January 2018 that position began to reverse. As of June 2018 the figure for surplus liquidity in Trinidad was just under TT$2bn. The challenge with the TT$2bn is that Trinidad and Tobago on July 12 will be launching a new instrument that is targeted to reach TT$4bn. That new instrument will immediately take TT$4bn out of the local financial system, which will come back to the local financial system in time.

Nigel M. Baptiste, President and CEO, Republic Financial Holdings

Recently Added Videos

Related Articles