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	28	30	32	37	41
Class B Bank	48	47	50	55	59	61	73
Class B Total	74	73	78	85	91	98	114
Total Bank & Trust Licences	87	86	91	96	101	108	123
Money Services Providers	6	5	5	5	5	5	6
Nominee Trust Companies	17	18	17	18	18	19	19
Total Licences	110	109	113	119	124	132	148
Building Societies	1	1	1	1	1	1	1
Cooperative Societies	2	2	2	2	2	2	2
Development Banks	1	1	1	1	1	1	1
Controlled Subsidiaries	8	8	8	7	7	7	7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

Distribution of Licensed Banks by Region

Region	Q2 2024	Q1 2024	2023	2022	2021	2020	2019
Europe	12	11	11	13	13	14	19
USA	9	9	9	10	14	17	19
Caribbean & Central America	15	16	16	17	19	20	22
Asia & Australia	15	15	16	15	16	17	19
Canada & Mexico	10	9	10	11	12	13	14
South America	23	22	23	23	24	25	28
Middle East & Africa	2	2	2	2	2	2	2
Total	86	84	87	91	100	108	123

 

 

 

 

 

 

 

 

 

 

 

Global Assets and Liabilities Overview

As of December 2022, the total international assets and liabilities (including cross-border positions in all currencies and domestic positions in foreign currencies) stood at US$489 billion and US$472 billion, respectively (compared to US$518 billion and US$517 billion in December 2021). The jurisdiction is now ranked 17th globally based on cross-border assets (US$472.5 billion) and 18th for cross-border liabilities (US$424.3 billion), highlighting the Cayman Islands' role as a key financial intermediary.

Among the 94 banks operating in the jurisdiction as of December 2022, US$14.2 billion in assets and US$46.7 billion in liabilities were booked domestically with other legally domiciled licensed entities.