Banking / Investment in Trinidad and Tobago
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TRINIDAD AND TOBAGO, 2014/06/01
The Central Bank of Trinidad and Tobago is seeking to assure policyholders that the terms of conditions of their policies “have not changed at all” and that the plan for the resolution of the insurance giant “has always included the transfer of the traditional insurance portfolio to a third party insurance company.
The Central Bank last week confirmed it had put up for sale, the cash-strapped insurance company, whose near total collapse four years ago, led to the Trinidad and Tobago government pumping billions of dollars to keep it afloat.
“As part of the resolution strategy for CLICO, the Central Bank proposes to transfer CLICO’s traditional insurance portfolio for price to an acquiring insurance company that is well capitalised, has a proven track record and the capacity to honour all obligations to policyholders,” CLICO said in a statement.
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TRINIDAD AND TOBAGO, 2014/03/05
The Central Bank of Trinidad and Tobago (CBTT) says it has pumped half a billion US dollars into the domestic foreign exchange market, saying it is aware of the difficulty some businesses and the public have been experiencing in obtaining foreign currency.
In a statement, the CBTT said that it has been “actively and aggressively” taking steps to address the situation and that in the last three and a half months it has sold US$500 million to the banking sector to alleviate tensions in the domestic foreign exchange market.
The CBTT said that it typically supplies 25 % of the total foreign exchange needs of the market, with the remaining 75 % supplied by the banking system.
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ARGENTINA, 2013/03/13
While Panama's banks held their lead as the biggest banks in Central America, Nicaragua steamed ahead in terms of return on capital and return on assets. HSBC remains the leader of The Banker’s Central American rankings with a Tier 1 capital up by 8.38% to $1.23bn in 2011, the last available financial year.
