About Banking in Barbados
Despite being a small island nation, Barbados has a developed banking and financial system. There are six active commercial banks, three of which are Caribbean owned by while the other three are Canadian-based.
The Central Bank of Barbados is responsible for, according its own words, for 'promoting monetary stability, promoting a sound financial structure, fostering development of the money and capital markets, channeling commercial bank credit into productive activities and fostering credit and exchange conditions conducive to the orderly and sustained economic development of Barbados.'
The World Economic Forum, in its report - The Global Competitiveness Report 2010–2011, has ranked Barbados at # 12 in terms of soundness of banks in the country.
Banks in Barbados
- Bank of Butterfield
- Barbados National Bank (BNB)
- FirstCaribbean International Bank (FCI)
- Mutual Bank of the Caribbean
- Republic Bank Limited (RBL)
- Royal Bank of Canada (RBC)
- Royal Bank of Trinidad and Tobago (RBTT)