Banking Registration & Licensing Statistics
| Licence Type | Q3 2024 | Q2 2024 | Q1 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Class A Bank & Trust | 8 | 8 | 8 | 8 | 8 | 7 | 6 | 6 |
| Class A Bank | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Class A Total | 11 | 11 | 11 | 11 | 11 | 10 | 9 | 9 |
| Class B Bank & Trust | 27 | 27 | 27 | 27 | 29 | 33 | 38 | 42 |
| Class B Bank | 46 | 49 | 48 | 49 | 54 | 58 | 63 | 74 |
| Class B Total | 73 | 76 | 75 | 76 | 83 | 91 | 101 | 116 |
| Total Bank & Trust Licences | 84 | 87 | 86 | 87 | 94 | 101 | 110 | 125 |
| Money Services Providers | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Nominee Trust Companies | 14 | 14 | 18 | 18 | 18 | 18 | 20 | 20 |
| Total Licences | 103 | 106 | 109 | 110 | 117 | 124 | 135 | 150 |
| 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 2024 | Q2 2024 | Q1 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Europe | 10 | 11 | 11 | 11 | 13 | 13 | 15 | 20 |
| USA | 8 | 8 | 8 | 8 | 10 | 15 | 18 | 20 |
| Caribbean & Central America | 16 | 16 | 16 | 17 | 18 | 19 | 20 | 22 |
| Asia & Australia | 14 | 16 | 16 | 16 | 16 | 16 | 17 | 20 |
| Canada & Mexico | 10 | 10 | 10 | 10 | 12 | 12 | 12 | 13 |
| South America | 24 | 24 | 23 | 23 | 23 | 24 | 26 | 28 |
| Middle East & Africa | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Total | 84 | 87 | 86 | 87 | 94 | 101 | 110 | 125 |
International Assets and Liabilities
As at December 2022, total international assets and liabilities (cross-border positions in all currency and domestic positions in foreign currency) were reported as US$486.7 billion and US$467 billion, respectively (December 2021: US$518 billion and US$517 billion, respectively). The jurisdiction is now ranked eighteenth internationally based on the value of cross-border assets - US$472.5 billion (December 2021: US$503 billion) - and eighteenth in terms of cross-border liabilities - US$424.3 billion (December 2021: US$470 billion), highlighting the role of the Cayman Islands as a financial intermediary.
Of the international assets and liabilities booked by the 94 banks as at December 2022, US$14.2 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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