The Making of A Bank of the West Trinidad

Bank of the West Trinidad – A Brief History (keywords: bank of the west trinitarian, the making of a bank of the west trinidad co)

The history of the Bank of the West Trinidad began in 1948 with the establishment of a small banking office by Howard T. Harris. He served as an executive at both American Express and Standard Oil Company, eventually coming to Trinidad as a diplomat. Harris decided to establish his own company on the island and opened what initially was called The International Banking Institute (IBI) in 1948 in Port-of-Spain. The bank was to serve as a franchise of the Bank of the West (BoW) in the US and provide financial support for Harris’s business ventures.

bank of the west trinidad co
bank of the west trinidad co

Bank Of The West Trinitite Co – A Brief History

This means that the “Bank of the West Trinidad” was an independent local bank before being bought over by Bank of the West. The Trinidad and Tobago Banking Company Limited (T&TBC) began in 1884 as a private company and was purchased by a group of investors who established it into a commercial bank in 1925. In 1955, the T&TBC acquired the International Banking Institute and changed its name to the Bank of the West Trinidad. This meant that the Bank of the West Trinidad was now established as an autonomous local bank. The T&TBC was listed on the stock exchange in 1965 and grew to serve more than 10% of the economy by 1971. In 1973, the Bank of the West Trinidad became a subsidiary of the First National City Bank of New York (Citibank). In 1988, Citibank sold the Bank of the West Trinidad to a group of investors who wanted to establish an independent local bank which was registered in April 1989. The corporate name remained the same with “BANK OF THE WEST TRINIDAD” written at the top right corner, and “BANK OF THE WEST” written at the top left corner. The Bank of the West Trinidad was publicly floated on November 18th, 1991 and it was renamed “Bank of the West Trinidad & Tobago” (BOTW) in 1996. The corporation commenced operations as a fully owned subsidiary of Citibank in the Bahamas in February 2003 and the name changed to Citibank Caribbean Limited.

bank of the west trinidad co
bank of the west trinidad co