RBC named best private bank in Trinidad and Tobago

Royal Bank of Canada (RBC) has been named the best private bank in Trinidad and Tobago by a leading financial publication, Global Finance.

RBC made the announcement in a press release on November 19.

The head of personal and private banking Simone Edwards, said, "Our recognition as the best private bank in Trinidad and Tobago is a remarkable achievement and reflects our unwavering dedication to our clients.

"We are proud to offer tailored banking solutions that empower our clients to achieve their financial aspirations. This award motivates us to continue delivering exceptional client service and fostering strong, lasting relationships with our clients. I want to thank and congratulate all our private banking employees on this achievement.”

However, the bank is still grappling with foreign-exchange challenges.

On November 8, RBC announced a 66 per cent reduction in the foreign exchange (forex) limits on its personal and business banking credit cards with effect from December 1.

Credit-card holders' monthly limits will be reduced from approximately $41,000 (US$6,020) to $14,000 (US$2,058).

The bank said, "Given the ongoing foreign currency supply constraints, we need to regularly review forex limits on our clients’ credit cards, while striving to balance the needs of our clients with the availability of forex supplies."

It said local TT dollar transactions remain unaffected.