Banking Registration & Licensing Overview

Licence Type	Q2 2024	Q1 2024	2023	2022	2021	2020	2019
Class A Bank & Trust	9	9	9	8	7	7	6
Class A Bank	4	4	4	3	3	3	3
Class A Total	13	13	13	11	10	10	9
Class B Bank & Trust	26	26	27	28	32	36	41
Class B Bank	47	47	48	52	57	62	70
Class B Total	73	73	75	80	89	98	111
Total Bank & Trust Licences	86	86	88	91	99	108	120
Money Services Providers	6	6	5	5	5	5	5
Nominee Trust Companies	19	18	18	18	17	20	21
Total Licences	111	110	111	114	121	133	146
Building Societies	1	1	1	1	1	1	1
Cooperative Societies	3	3	2	2	2	2	2
Development Banks	1	1	1	1	1	1	1
Controlled Subsidiaries	8	7	7	7	7	7	7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Note: The data for Class A and Class B banks includes licenses, branches, subsidiaries, and affiliated private entities.

Licensed Banks by Geographical Region

Region	Q2 2024	Q1 2024	2023	2022	2021	2020	2019
Europe	12	11	12	14	14	16	19
USA	9	8	9	9	13	17	19
Caribbean & Central America	15	16	17	17	18	19	21
Asia & Australia	17	17	16	17	15	17	19
Canada & Mexico	11	10	11	12	11	13	12
South America	25	23	24	24	23	25	27
Middle East & Africa	3	3	3	2	2	3	3
Total	92	88	92	95	96	110	120

 

 

 

 

 

 

 

 

 

 

 

Global Assets and Liabilities

As of December 2022, total international assets and liabilities (cross-border positions in all currencies and domestic positions in foreign currencies) were reported at US$480.5 billion and US$459.3 billion, respectively (December 2021: US$515 billion and US$509 billion, respectively). The jurisdiction now ranks eighteenth globally by the value of cross-border assets - US$470 billion (December 2021: US$502 billion) - and eighteenth in terms of cross-border liabilities - US$422 billion (December 2021: US$467 billion), underscoring the Cayman Islands' role as a key financial intermediary.

Of the international assets and liabilities reported by the 92 banks as of December 2022, US$13.8 billion and US$45.6 billion of assets and liabilities, respectively, were attributed to the domestic economy, involving transactions with other legally domiciled licensed entities considered as resident entities.