Where does this leave the international banking and trust sector? Clearly, smaller than it was a few years ago in balance sheet terms, but still substantial. The average wage for the jobs in this sector exceeds $ per year. Furthermore, the sector supports a great many service jobs in areas such as accounting, law, and consulting.
The Central Bank expects that the number of international banks and trust companies will decrease some more, as several small entities have indicated their intent to exit The Bahamas. This does not necessarily mean that funds in the system, or employment, will materially fall. We are hopeful that the sector is finding a base from which it can grow.