Port of Spain a shopping and business centre for much of the country. Most government offices are also located in the city and many important government services can only be accessed in the Ministry offices located downtown. Within recent years, local banks headquartered here have helped it become a financial centre for the Caribbean and Central America region. Two of the largest banks in the Caribbean, Republic Bank, Trinidad and Tobago Limited and Royal Bank of Trinidad and Tobago (RBTT, reacquired by the Royal Bank in 2008) are headquartered here or base their Caribbean operations in the city. Trinidad's economy is based on
Belmont, Port of Spain Belmont, Port of Spain In north-east Port of Spain, Belmont, at the foot of the Laventille Hills, was the city's first suburb. In the 1840s–'50s, parts of the area were settled by Africans rescued by the Royal Navy from illegal slaving ships. In the 1880s–'90s, the population swelled rapidly, and the characteristic Belmont street pattern of narrow, winding lanes developed. The black professional class built large homes in Belmont, as they were excluded from the more expensive neighbourhoods such as St. Clair and Maraval; Belmont became known as "the Black St. Clair". Many of these large homes have been renovated