Good to see you again. Glad you enjoy the Limes.T&T’s FCB won a country award at The Banker’s 2009 ceremony (link). First Citizens Bank Last year, Trinidad and Tobago was significantly affected by the meltdown of the largest conglomerate in the Caribbean, the CL Financial Group. This affected the whole of the local financial system [...]
From credit rating agency Standard & Poor’s on Tuesday (emphasis and in-line explanations mine): NEW YORK, Feb. 3, 2009–Standard & Poor’s Ratings Services said today that it placed its ‘A/A-1′ foreign-currency and ‘A+/A-1′ local-currency sovereign credit ratings on the Republic of Trinidad and Tobago on CreditWatch with negative implications. [Credit watch with negative implications means [...]
From a note issued by analysts at JP Morgan, emphasis mine: The Central Bank late on Friday announced that it would bail out a number of financial services companies—Clico Investment Bank (CIB), Clico Insurance Company (CLICO), British American Insurance Company (BAICO) and Caribbean Money Market Brokers (CMMB)—within the CL Financial Group, which have recently been [...]
PRESS RELEASE Verbatim, statement issued Jan 30 CMMB Assures Clients Their Investments are Safe In light of the announcement today by the Central Bank regarding the CL Financial Group, CMMB wishes to reassure its clients that their investments with us are safe. CMMB continues to operate as an independent entity separately from Clico and Clico [...]
Presented verbatim, here is the full text of the statement made by Central Bank Governor Ewart Williams at the press conference on Friday: Some of you may know that CIB has been facing liquidity challenges over the past few weeks. These challenges came to a head in the last few days when the bank began [...]