The History of Cuba, vol. 5

by Willis Fletcher Johnson

It follows, therefore, that the chief functions of banking in Cuba are Discount, Deposit, Exchange, Collections, Collateral Loans, Foreign Credits and the distribution of money throughout the country.

The principal banks serving the financial needs of Cuba are the following:

The National City Bank of New York. Capital, $25,000,000.

Banco Español de la Isla de Cuba. Capital, $8,000,000.

Banco National de Cuba. Capital, $6,860,455.

Banco Territorial de Cuba. Capital, $5,000,000.

Royal Bank of Canada. Capital and surplus, $25,000,000.

The Trust Company of Cuba. Capital, $500,000.

Banco Mercantile Americano de Cuba. Capital, $2,000,000; surplus, $500,000.

Banco Prestatario de Cuba. Capital, $500,000. (Makes loans on personal property, approved notes, mortgages, etc.)