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 Spanish settlers, who established a port here: "Puerto de los Españoles", later "Puerto de España". In 1560, a Spanish garrison was posted near the foot of the Laventille Hills, which today form the city's eastern boundary. The part of today's downtown Port of Spain closest to the sea was once an area of tidal mudflats covered by mangroves. The first Spanish buildings here, in the 16th and 17th centuries, were open mud-plastered ajoupas, interspersed between large silk cotton trees and other trees. The fort was a mud-walled enclosure with a shack inside, a flagpole, two or three cannon, and few