Tuesday 26 May, 2020

Republic Bank contributes US$2M to 13 islands; T&T to get TT$5M

Republic Financial Holdings Limited has announced the Group will be making a US$2 million contribution across all the territories it operates, namely, Trinidad and Tobago, Grenada, Guyana, Barbados, Ghana, Suriname, Cayman Islands, St Lucia, St Vincent and the Grenadines, St Kitts and Nevis, St Maarten, Anguilla and Dominica. Of this total, TT$5 million has reportedly been earmarked for Trinidad and Tobago.

In making the announcement, President and CEO of the Group Nigel Baptiste stated that: “The full extent of the human tragedy that is unfolding before our eyes is epochal. While the Group is committed to helping our clients survive the economic impact, there is so much more that is needed to be done at the society level. No country is immune from this virus and given our preference for open economies, we all must be interested in what happens elsewhere. Management of this virus requires global collective responsibility.”

The donation falls under the bank’s Power to Make a Difference programme and will be used to address some of the immediate requirements in the fight against COVID-19. This includes the purchase of much-needed ventilators, PPE equipment, testing kits, food and supplies for the health care workers as well as supporting social distancing messages.

The release said members of the Republic group have taken numerous steps to safeguard their clients and staff while ensuring the provision of essential banking services. It added that it has reached out to clients to provide cash flow relief to those affected by the disruption brought about by the COVID-19 pandemic.

Baptiste, who is also the RBL’s Managing Director remarked: “While there is no good time for a crisis such as this, it comes at a particularly bad time for the Trinidad and Tobago economy and for the public purse. There is much that needs to be done and the Government can realistically only afford to finance a fraction of what is needed. We are hopeful that our contribution will not only assist in reducing the number of cases (critical or otherwise) in Trinidad and Tobago but also inspire generous contributions by others in the corporate community.”

The Group added that it recognises the dynamic nature of the situation and remains committed to a continuous assessment of its actions and responses to ensure the best interest of its staff, clients and communities.

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