President of Banker’s Association of Trinidad and Tobago (BATT)
Press Conference – Fee and Service Charges
May 5, 2017
“Thank you all for coming here today to discuss a topic which I know has seen much public debate over the past few months – Bank Fees and Charges. As you may be aware the Bankers Association of Trinidad and Tobago just concluded its participation in the Joint Select Committee of Parliament, which is conducting a Parliamentary inquiry into this matter. I want to thank the committee for their questions and I am glad we have been able to provide the answers to the questions being asked about fees and charges.
In the JSC, I referenced the fact that BATT had engaged the services of an international accounting firm to conduct an independent review of the commercial banking sector with a view to collating aggregate data on the industry, especially as it related to fees and services charges. We felt it was important to do this study to provide the JSC and the public the critical information they need to arrive at its findings.
We have called this press conference today to share this information with you and to provide you and the public with the facts. I think you will find the information enlightening and hopefully will allow for a more fulsome discussion on how the industry works and the contributions it makes to the financial landscape and economic growth of Trinidad and Tobago.
Our presentation today will be broken into three main sections with each presenter focusing on a key area:
First Nigel Romano will provide an Overview of the Banking Sector in Trinidad and Tobago.
Then Ms. Karen Darbasie and Mr. Nigel Baptiste will provide some specifics on fees and service charges and finally;
Mr. Daryl White will talk about the results of a customer experience survey BATT recently concluded, as well as some of the key investments banks have made in Trinidad and Tobago over the past few decades.
After these presentations members of the Association will be available to take questions from the media.
Nigel over to you.