Profitability, progress for banking sector

OVERVIEW

“While banks were unable to maintain the same level of profitability as during the boom years of 2007-2008, profitability ratios remained relatively strong even by regional and international standards," according to the Central Bank's November 2010 Financial Stability Report. However, the urgent need for economic diversification will demand much more from the banking sector in 2011 and beyond.

Finance Minister Issues Challenge to Banking Sector

Speaking at the launch of the first ever Banking Week in January 2011, organised by the Bankers' Association of Trinidad and Tobago (BATT), Finance Minister Winston Dookeran said: "The financing of economic development has become perhaps the most important pillar for T&T's recovery process."