Central Bank welcomes RBL pause on fees

The Cen­tral Bank of Trinidad and To­ba­go has wel­comed a state­ment is­sued by Re­pub­lic Bank fol­low­ing pub­lic con­cern over rais­ing cus­tomer fees.

In a re­lease, the Cen­tral Bank said its in­ter­ven­tion in the is­sue was lim­it­ed and con­sis­tent with its ap­proach to work­ing with the bank­ing sec­tor.

“The Chair­man and Board of Di­rec­tors of Re­pub­lic Bank con­sid­ered it im­por­tant to re­spond to the pub­lic con­cerns and they took the ap­pro­pri­ate ac­tion,” the state­ment said.

The in­sti­tu­tion al­so ac­knowl­edged the re­sponse by the bank and its lead­er­ship.

Ac­cord­ing to the re­lease, the Cen­tral Bank com­mend­ed Re­pub­lic Bank for what it de­scribed as a proac­tive re­sponse to con­cerns ex­pressed by mem­bers of the pub­lic.

The Cen­tral Bank al­so recog­nised the han­dling of the mat­ter by the Chair­man of Re­pub­lic Bank’s Board.