At present there are eight commercial banks operating in Trinidad and Tobago with an extensive network of 123 branches. The commercial banks remain the single largest group of financial institutions in terms of assets. Two of the locally owned banks have established a commercial presence in various territories in the Caribbean.

There has been considerable growth in the use of ATMs for the provision of banking services, and there are now 254 ATMs in the country (an average of 1 ATM per 5000 persons). Banks have also been providing telephone and Internet banking services. Four banks share a linked network of ATMs and debit point-of-sale operations. Banks now offer a relatively sophisticated menu of services. There is some blurring of the distinction between banks and non-banks and many banks offer a variety of innovative financial products, including retirement plans denominated in US currency, individual annuity plans, and mutual funds including offshore equity funds. Banks are also playing a central role in the development of the money market.

Currently the following commercial banks exist in Trinidad and Tobago ; Bank of Baroda, Citi bank (Trinidad and Tobago Ltd), FirstCaribbean International Bank, First Citizens, Intercommercial Bank Ltd, RBC Royal Bank, Republic Bank Ltd and Scotiabank Trinidad and Tobago Limited. All the commercial banks are members of the Bankers Association of Trinidad and Tobago with the two newest members being the Bank of Baroda and FirstCaribbean International Bank having joined in 2008.

Excerpts from – Reform of the Financial System of Trinidad and Tobago Ministry of Finance (2004)