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Economy and Banking Sector of the Turks and Caicos Islands

Major Banks of the Turks and Caicos Islands

Rank
1
Total Assets
470.10 mln USD  (+7.13%)
Market Share
52.48 %
Rank
2
Total Assets
145.30 mln USD  (+5.01%)
Market Share
16.22 %
Rank
3
Total Assets
117.05 mln USD  (+4.16%)
Market Share
13.07 %

#1: Scotiabank (Turks and Caicos) Ltd.

The Bank of Nova Scotia (Scotiabank) is Canada’s international bank and one of the leading financial services providers in North America, Latin America, the Caribbean and Central America. In Canada and internationally Scotiabank provides a wide range of retail, private, corporate banking and wealth management products and services. Global banking and markets of Scotiabank provides corporate, government and institutional clients in Canada and in select international countries with corporate banking, investment banking and capital markets solutions.

Business Focus
retail banking
business banking

Scotiabank (Turks and Caicos) Ltd. is the 1st largest bank in the Turks and Caicos Islands in terms of total assets. In 2017 its total assets were 470,10 mln USD, providing the bank with the market share of 52.48%. In 2017 the bank's annual profit was 12,91 mln USD.

There is no deposit guarantee scheme in the Turks and Caicos Islands: in the case of Scotiabank (Turks and Caicos) Ltd. failure its depositors will not get any compensation.

#2: RBC Royal Bank (Bahamas) Limited

RBC Royal Bank is a division of Royal Bank of Canada providing retail and corporate banking products and services.

Business Focus
retail banking
business banking

RBC Royal Bank (Bahamas) Limited is the 2nd largest bank in the Turks and Caicos Islands in terms of total assets. In 2017 its total assets were 145,30 mln USD, providing the bank with the market share of 16.22%. In 2017 the bank's annual profit was 3,19 mln USD.

There is no deposit guarantee scheme in the Turks and Caicos Islands: in the case of RBC Royal Bank (Bahamas) Limited failure its depositors will not get any compensation.

#3: British Caribbean Bank Limited

British Caribbean Bank (BCB) was founded in September 1998 and has been providing banking services to both local and offshore clients. BCB offers current accounts and term deposits in US dollars, Canadian dollars and UK pounds. BCB provides customized lending products with flexible loan terms and competitive interest rates.

Services
retail banking
corporate banking
brokerage

British Caribbean Bank Limited is the 3rd largest bank in the Turks and Caicos Islands in terms of total assets. In 2017 its total assets were 117,05 mln USD, providing the bank with the market share of 13.07%. In 2017 the bank's annual profit was 3,25 mln USD.

There is no deposit guarantee scheme in the Turks and Caicos Islands: in the case of British Caribbean Bank Limited failure its depositors will not get any compensation.

See Also