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| Additional information |
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| Republic Bank Limited |
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Mission statement:
Our mission is to provide Personalised, Efficient and Competitively priced Financial Services and to Implement Sound Policies which will redound to the benefit of our Customers, Staff and Shareholders. |
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Profile:
Customer Focus
# We exist to take care of the financial needs of our customers
# We believe that achieving complete customer satisfaction through service excellence is the key to our success
# We consider the customer first in all our decision-making
# We recognise and serve diverse groups of customers according to their distinctive needs.
# We build and sustain relationships that are satisfying to our customers.
# We innovate in anticipation of our customers' future requirements.
Integrity
Integrity
# Integrity is at the core of all our relationships; generating trust and confidence from our customers, suppliers, shareholders and the general public, and amongst ourselves.
# We consistently demonstrate personal Integrity through honesty, trustworthiness, fairness, confidentiality, and openness in everything that we do.
# We deliver accurate, reliable and customer-friendly products and services.
# Our business processes and practices support service excellence while protecting the interest of our customers, our employees and our shareholders
Respect For The Individual
Respect For The Individual
# The more respect we demonstrate to one another, the higher the quality of our working relationships.
# We listen actively to one another and respond appropriately.
# Our communications with one another are open, timely and professional.
# We provide the authority, training, tools and encouragement required for each of us to do our best, on our own, to serve our customers.
# We create challenging opportunities for our growth and development.
# We recognise, value and reward contributions.
Professionalism
Professionalism
# Our professionalism is the foundation of our superior individual corporate performance.
# We each take ownership and personal responsibility for all that we do.
# We continually develop ourselves to maintain leading-edge capabilities.
# We apply both our extensive industry knowledge and technical competence to competitive advantage.
# We consistently produce results of the highest quality.
# We are positive, confident and objective in all our business interactions.
Results Orientation
Results Orientation
# We engage in business to provide superior returns to our shareholders.
# We focus on achieving results that add the best possible value for all our stakeholders.
# We are cost-conscious in all our activities.
# We continually improve on what we do to serve our customers
# We use the power of teamwork to improve results significantly.
# We aggressively pursue market share, growth and industry leadership. |
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Vision:
Republic Bank, the Financial Institution of Choice in the Caribbean for Customers, Staff and Shareholders.
We set the Standard of Excellence in Customer Satisfaction, Employee Satisfaction, Shareholder Value. |
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History:
Originally called "Colonial Bank", this financial institution was born in 1837 into the newly emerging economy of Trinidad and Tobago. As the Bank evolved during the first hundred years of its existence, numerous changes were also taking place in the social and economic life of Trinidad and Tobago. Expansion of the Bank's branch network became a priority to meet the demands of a growing economy.
In the 1920's, expansion took on new dimensions through an association with Barclays Bank Limited of the United Kingdom. This provided Colonial Bank with access to Barclays' extensive branch network. Eventually, Colonial Bank became part of the financial institution known as Barclays Bank D.C.O. (Dominion, Colonial and Overseas).
With the rise of social consciousness in the 1970's, the call for localisation of foreign businesses in Trinidad and Tobago led to the formation of Barclays Bank of Trinidad and Tobago Limited. By 1977 majority shareholding passed into local hands. This precipitated, in 1981, another change in the Bank's name to Republic Bank Limited, signifying the Bank's status as a truly national bank.
Today Republic Bank's assets stand at well over US$4.9 Billion and for the half year ending March 2005 the Republic Bank Group recorded profit after taxation of US$73.3 million. Republic employs over 4,500 people throughout the Caribbean.
With a well established branch network and the reputation as the premier bank in Trinidad and Tobago, Republic Bank Limited has expanded its operations beyond its home base, and positioned itself as one of the leading financial services institutions in the Eastern Caribbean.
The Bank's major subsidiary in Trinidad and Tobago is Republic Finance & Merchant Bank Limited (FINCOR). For the purpose of large-scale property development, the London Street Project Company Limited was developed in 1995 as a subsidiary to FINCOR.
Republic Bank was actively establishing subsidiaries in 1992. In this year, Republic Bank Trinidad and Tobago (Cayman) Limited, a wholly owned offshore bank with registered offices in the Cayman Islands, was established. Before the close of the year, Republic Bank Limited also purchased a fifty-one percent shareholding in the National Commercial Bank of Grenada Limited, a commercial banking operation with nine branches on the islands of Grenada, Carriacou and Petite Martinique.
In 1994, Republic continued its expansion thrust with the purchase of 23 percent shareholding in another local bank, the Bank of Commerce Trinidad and Tobago Limited, and a 20 percent shareholding in Canadian Imperial Bank of Commerce (West Indies) Holdings Limited. The latter investment afforded Republic Bank Limited valuable linkages with the holding company's branches in the Caribbean islands of Barbados, St. Vincent, Antigua and Barbuda, St. Lucia and Jamaica.
At the beginning of 1996, Republic bought another 31.14 per cent of Bank of Commerce, taking the shareholdership up to 51.14 per cent, making Bank of Commerce a subsidiary of Republic Bank. In February 1997, the purchase of approximately 10.9 million stock units allowed the Bank to now secure 95.3% of the share capital issued by Bank of Commerce. Later that year, Republic Bank acquired 51% shareholding in the National Bank of Industry and Commerce of Guyana.
The Bank’s expansion thrust also extended to the Spanish speaking Caribbean with the establishment of a representative office in Cuba in May 2002. In 2003, Republic acquired 65.1% of the Barbados National Bank (BNB) in Barbados. In late 2003, Republic also finalised the acquisition of Banco Mercantil in the Dominican Republic, which has since been rebranded Republic Bank (D.R.) S.A. This is the first of Republic Bank’s overseas subsidiaries to fully adopt the Republic Bank corporate identity.
Republic Bank also maintains significant shareholdings in Amalgamated Finance Company Limited and Securicor Trinidad Limited, a security services firm.
Today, Republic Bank Limited comprises an extensive branch network with six specialised divisions which attend to the business needs of corporate, commercial and individual clients. The Bank's services are as diverse as international and local credit cards, trade and invoice financing, foreign exchange, trust and asset management, investment and securities trading services. These are supported by one of the most sophisticated, up-to-date technological infrastructures in the Caribbean. In August 2003, Republic implemented a new banking system which allows for greater efficiency and accuracy in serving its customers.
Republic also has the most extensive range of electronic banking services in the nation, offering state-of-the-art facilities for the individual, corporate and commercial clients.
Republic Bank Limited has evolved into one of the most diversified financial services groups in the Eastern Caribbean. Along with its wide ranging commercial activities, the Bank in empathy with the social needs of our society, launched our Power to Make a Difference Programme in 2003. The Power to Make a Difference has committed $40 million to alleviation of poverty, youth development, through education and sport, and entrepreneurship over a period of five years. This year (2005), the Bank’s contribution will exceed $8 million. Through the Power to Make a Difference, Republic Bank reaffirms its commitment towards contributing to the betterment and advancement of our society. |
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| Formerly known as:
Colonial Bank |
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| Swift/BIC:
RBNKTTPX |
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