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
Port of Spain of Port of Spain, at what is still called Invaders Bay, and marched towards the town. Realising his military resources were inadequate to defend the colony and wishing to avoid unnecessary destruction, Governor Chacón capitulated and was able to negotiate generous terms with Abercromby. Port of Spain remained the capital; the new British colonial government renamed most of the streets after British royalty or military figures, but allowed Chacón Street (which followed the old course of the St. Ann's River) to retain its name, in tribute to the former governor. In 1803, Port of Spain began growing southwards, with the