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Banking Registration & Licensing Statistics

Licence Type Q3 2023 Q2 2023 Q1 2023 2022 2021 2020 2019 2018
Class A Bank & Trust 8 8 8 8 7 6 6 8
Class A Bank 3 3 3 3 3 3 3 3
Class A Total 11 11 11 11 10 9 9 11
Class B Bank & Trust 29 29 30 29 33 38 42 46
Class B Bank 54 56 55 54 58 63 74 76
Class B Total 83 85 85 83 91 101 116 122
Total Bank & Trust Licences 94 96 96 94 101 110 125 133
Money Services Providers 6 5 5 5 5 5 5 5
Nominee Trust Companies 18 18 18 18 18 20 20 21
Total Licences 118 119 119 117 124 135 150 159
Building Societies 1 1 1 1 1 1 1 1
Cooperative Societies 2 2 2 2 2 2 2 2
Development Banks 1 1 1 1 1 1 1 1
Controlled Subsidiaries 7 7 7 7 7 7 7 7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Note: The figures for Class A and Class B banks includes licences, branches, subsidiaries, and privates and affiliates.

Licensed Banks by Region

Region Q3 2023 Q2 2023 Q1 2023 2022 2021 2020 2019 2018
Europe 12 13 13 13 13 15 20 27
USA 9 10 10 10 15 18 20 22
Caribbean & Central America 19 19 19 18 19 20 22 24
Asia & Australia 16 16 16 16 16 17 20 20
Canada & Mexico 12 12 12 12 12 12 13 13
South America 24 24 24 23 24 26 28 25
Middle East & Africa 2 2 2 2 2 2 2 2
Total 94 96 96 94 101 110 125 133

 

 

 

 

 

 

 

 

 

 

 

International Assets and Liabilities

As at December 2021, total international assets and liabilities (cross-border positions in all currency and domestic positions in foreign currency) were reported as US$518 billion and US$517 billion, respectively (December 2020: US$597 billion and US$597 billion, respectively). The jurisdiction is now ranked fifteenth internationally based on the value of cross-border assets - US$503 billion (December 2020: US$578 billion) - and fifteenth in terms of cross-border liabilities - US$470 billion (December 2020: US$537 billion), highlighting the role of the Cayman Islands as a financial intermediary.

Of the international assets and liabilities booked by the 101 banks as at December 2021, US$15.3 billion and US$46.7 billion of assets and liabilities, respectively, were booked in the domestic economy with other legally domiciled licensed entities considered as resident entities.

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