Bank Registration & Licensing Data

License Category	Q2 2024	Q1 2024	2023	2022	2021	2020	2019
Class A Bank & Trust	9	9	9	9	8	7	7
Class A Bank	4	4	4	4	4	4	4
Class A Total	13	13	13	13	12	11	11
Class B Bank & Trust	28	28	28	30	34	39	43
Class B Bank	50	49	50	55	59	64	75
Class B Total	78	77	78	85	93	103	118
Total Bank & Trust Licenses	91	90	91	98	105	114	129
Money Services Providers	4	4	4	4	4	4	4
Nominee Trust Companies	19	19	19	19	19	21	21
Total Licenses	114	113	114	121	128	139	154
Building Societies	1	1	1	1	1	1	1
Cooperative Societies	3	3	3	3	3	3	3
Development Banks	1	1	1	1	1	1	1
Controlled Subsidiaries	8	8	8	8	8	8	8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

Licensed Banks by Geographic Region

Region	Q2 2024	Q1 2024	2023	2022	2021	2020	2019
Europe	10	10	10	12	12	14	18
USA	9	9	9	11	14	17	19
Caribbean & Central America	17	17	17	19	20	21	23
Asia & Australia	15	15	15	15	15	16	18
Canada & Mexico	11	11	11	13	13	13	14
South America	23	22	22	22	23	25	27
Middle East & Africa	3	3	3	3	3	3	3
Total	88	87	88	95	100	109	122

 

 

 

 

 

 

 

 

 

 

 

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$485.5 billion and US$466.8 billion, respectively (December 2021: US$520 billion and US$519 billion, respectively). The Cayman Islands ranks eighteenth globally based on the value of cross-border assets - US$470 billion (December 2021: US$502 billion) - and eighteenth in terms of cross-border liabilities - US$425 billion (December 2021: US$471 billion), reflecting the jurisdiction's role as a key financial intermediary.

Of the international assets and liabilities reported by the 94 banks as of December 2022, US$14 billion and US$45.8 billion of assets and liabilities, respectively, were booked within the domestic economy, involving other legally domiciled licensed entities considered resident entities.