23
2014 ANNUAL REPORT
Country (TT$ Millions)
2014
2013
Change
% Change
Restated
Trinidad and Tobago
46,093
43,253
2,841
6.6%
Barbados
8,270
8,824
(554)
-6.3%
Cayman/Guyana/Eastern Caribbean (EC)
9,178
9,529
(351)
-3.7%
Inter-company eliminations
(4,170)
(3,994)
(178)
-4.4%
Total
59,372
57,612
1,759
3.05%
ANALYSIS OF PERFORMANCE BY TERRITORY
Total assets
Total assets for the Group increased by $1.8 billion or 3% in 2014,
driven by growth in Trinidad and Tobago where assets increased
by $2.8 billion or 6.6%, due to an improved loan and investment
portfolio. This growth was partially negated by a declining asset
base in all other territories. A maturing investment portfolio and
a dearth of attractive new investment opportunities resulted in
a $554 million or 6.3% decline in the Barbados asset base. The
$351 million decline in assets in the Cayman/Guyana/Eastern
Caribbean region was driven mainly by Cayman and Guyana,
where our Cayman asset base was negatively impacted by a
declining deposit base and maturing investments. A decline in
the deposit base of the Guyana operations resulted in the use
of excess cash to fund business growth, leading to a decline in
balances Due from Banks.
Total loans and advances
Total loans and advances for the Group increased by 7.4% in
2014 compared to growth of 8.2% in 2013. This reflects the net
effect of a 10% growth in Trinidad and Tobago, which is on
par with the 10.2% growth achieved in 2013, and moderated
Country (TT$ Millions)
2014
2013
Change
% Change
Trinidad and Tobago
19,336
17,572
1,764
10.0%
Barbados
4,578
4,540
39
0.9%
Cayman/Guyana/Eastern Caribbean (EC)
3,181
3,124
57
1.8%
Total
27,095
25,236
1,860
7.4%
Total Assets
Total LoansandAdvances
growth of 0.9% and 1.8% in the other territories, compared to
growth of 1.2% and 8.4% in 2013. The weakened performance
in the other territories is a consequence of the challenging
economic conditions in Barbados and Grenada, with the Group
seeking to manage its risk exposure in both countries.
