Despite the long debates which surrounded the takeover, RBTT representatives have said that since the bank was taken over by the Royal Bank of Canada earlier this year, it has been doing very well. They added that RBTT is also making strides in terms of financing projects in the booming local construction industry.

Speaking at an RBTT forum, Partnering with Construction, at the Hyatt Regency Hotel in Port of Spain yesterday, RBTT's general manager of corporate banking, Hadyn Gittens, said, "With the support of our new parent, the Royal Bank of Canada, RBTT is now well poised and ready to play an even more meaningful role in the development of the (construction) sector."

He said the company's access to a larger asset base had provided the necessary muscle for RBTT to participate in more projects than before, and had deepened their expertise.

Gittens said the company's improved rating had allowed them to bid more competitively to finance projects, and they have now doubled their focus on the construction sector and have developed a support structure that enables them to recognise and work with their customers' demands more effectively.

During his speech, Gittens said, "RBTT has developed a menu of business, trade financing, cash management and investment products and services that are on par with... most of the other products available within the local financial sector."

He said now that the bank is part of a much larger financial organisation, it has the size, rating and resource base to fund itself more efficiently and bid more competitively for business.

Nearing the conclusion of his speech, he added, "Our increased international expertise and credit bench strengthening are the most significant and immediate benefits of the new ownership structure."