Banks in Gibraltar

11 February 2020

Gibraltar is a British overseas territory and is a modern, low-tax jurisdiction. Strategic location of Gibraltar, its favorable taxation regime, European standards of regulation make Gibraltar an attractive destination for international investors. Financial services together with tourism, maritime services and e-gaming are main contributors to the GDP of Gibraltar. Banking sector traditionally dominated by British banks and focused on international private banking services is now extending to new business areas like digital wealth management and innovative payment infrastructure services. Consolidated total assets of Gibraltar banks have been relatively stable during the recent years, with interbank balances having a large share at both assets and liabilities sides.

Number of Banks in Gibraltar Consolidated Assets of Gibraltar Banks Consolidated Liabilities of Gibraltar Banks

Operating Banks

Currently there are 10 banks operating in Gibraltar: 5 domestic banks and 5 foreign-controlled banks, representing the United Kingdom, France, Switzerland, and the United States.

Despite the small number of banks, they provide a broad variety of services to meet the needs of different customer groups. Most of these banks are involved in international private banking and asset management services, with one bank only, Gibraltar International Bank Limited focused solely on providing retail banking products to residents of Gibraltar.

IDT Financial Services Limited and Moneycorp Bank Limited are focused on providing international payment services.

G-Rock Limited is a new bank, private banking and wealth management services via direct channels: online and mobile banking platforms.

Country of Origin
CH Switzerland
Services
private banking
dealing services
investment advisory
asset management
Area Served
Worldwide
Country of Origin
GI Gibraltar
Services
private banking
wealth management
Area Served
Worldwide
Country of Origin
GI Gibraltar
Services
retail banking
Area Served
GIGibraltar
Country of Origin
US United States
Services
payment services
BIN sponsorship
payment cards programs
Area Served
EUEEA
Country of Origin
CH Switzerland
Services
private banking
portfolio management
investment advisory
Area Served
Worldwide
Country of Origin
GI Gibraltar
Services
payment services
international transfers
foreign exchange
Area Served
Worldwide
Country of Origin
FR France
Services
private banking
wealth management
Area Served
Worldwide
Country of Origin
GB United Kingdom
Services
offshore banking
personal banking
business banking
Area Served
GIGibraltar
GBUnited Kingdom
Country of Origin
GI Gibraltar
Services
personal banking
commercial banking
private banking
wealth management
investment management
Area Served
Worldwide
Country of Origin
GI Gibraltar
Services
asset management
portfolio management
advisory services
brokerage
Area Served
Worldwide

Bank J. Safra Sarasin (Gibraltar) Limited

Customer Rating
n/a
Country of Origin
CH Switzerland

Founded in 1841, J. Safra Sarasin is specialized in international private bank providing asset and wealth management and investment banking products and services. Bank J. Safra Sarasin (Gibraltar) Limited started its operations in 2001, the bank offers comprehensive and flexible private banking services to individuals and entities.

Services
private banking
dealing services
investment advisory
asset management
Clients
private clients
institutional clients
external access managers
Area Served
Worldwide
Products
current accounts
Ways to Bank
branch branch
online banking online banking
mobile app mobile app

G-Rock Limited

Customer Rating
n/a
Country of Origin
GI Gibraltar

G-Rock Limited (doing business as Golden Sand Bank) is a new innovative bank, focused on providing private banking and wealth management services via direct channels: online and mobile banking platforms. G-Rock offers simple and straightforward online onboarding process, once the onboarding is completed, the customer can get access to all G-Rock products and services from his/her smartphone or computer.

Services
private banking
wealth management
Clients
individuals
Area Served
Worldwide
Products
current accounts
debit cards
savings accounts
trading accounts
investment portfolios
Account Opening
completely online
ready within a few minutes
Ways to Bank
online banking online banking
mobile app mobile app

Gibraltar International Bank Limited

Customer Rating
 (2.8; 9 ratings)
Country of Origin
GI Gibraltar

Established in 2013, Gibraltar International Bank is a new digital bank, moving away from the traditional manual retail banking. Gibraltar International Bank provides current accounts, savings accounts, debit and credit cards, loans and mortgages to domestic private individuals and companies.

Services
retail banking
Clients
individuals
business entities
Area Served
GIGibraltar
Products
current accounts
debit cards
savings accounts
time deposit accounts
personal loans
mortgage loans
business loans
Account Opening
submit online application
Ways to Bank
branch branch
online banking online banking
mobile app mobile app

IDT Financial Services Limited

Customer Rating
 (5.0; 1 ratings)
Country of Origin
US United States

Established in Gibraltar in 2006, IDT Financial Services (IDT Finance) is a subsidiary of IDT Corporation (United States) and operates as a regulated issuing bank. IDT Finance provides payment services, prepaid cards and issues electronic money across the European Economic Area (EEA).

Services
payment services
BIN sponsorship
payment cards programs
Clients
businesses
Area Served
ATAustria
BEBelgium
BGBulgaria
HRCroatia
CYCyprus
CZCzech Republic
DKDenmark
EEEstonia
FIFinland
FRFrance
DEGermany
GRGreece
HUHungary
ISIceland
IEIreland
ITItaly
LVLatvia
LILiechtenstein
LTLithuania
LULuxembourg
MTMalta
NLNetherlands
NONorway
PLPoland
PTPortugal
RORomania
SKSlovakia
SISlovenia
ESSpain
SESweden
GBUnited Kingdom

Lombard Odier & Cie (Gibraltar) Limited

Customer Rating
n/a
Country of Origin
CH Switzerland

Lombard Odier is a Swiss private bank providing private banking and asset management products and services since 1796. Lombard Odier has been present in Gibraltar since 1987. Lombard Odier & Cie (Gibraltar) Limited is focused on the provision of asset management services to private and institutional clients, delivered by an experienced and dedicated team of private bankers and portfolio managers.

Services
private banking
portfolio management
investment advisory
Clients
individuals
businesses
trusts
Area Served
Worldwide

Moneycorp Bank Limited

Customer Rating
n/a
Country of Origin
GI Gibraltar

Since 1979 Moneycorp Bank serves the growing foreign exchange and payments needs of global businesses, importers and exporters, online sellers and personal clients.

Services
payment services
international transfers
foreign exchange
Clients
natural persons
business entities
Area Served
Worldwide
Products
notice accounts
debit cards
online seller accounts
Account Opening
submit online application
Ways to Bank
online banking online banking

SG Kleinwort Hambros Bank (Gibraltar) Limited

Customer Rating
n/a
Country of Origin
FR France

In 2016 Societe Generale purchased Kleinwort Benson and subsequently launched SG Kleinwort Hambros as its new combined brand name. SG Kleinwort Hambros is a private banking division of Societe Generale (France). SG Kleinwort Hambros provides a range of private banking products and services to high net worth individuals and families, both domestic and non-domestic clients. The products ranges from day-to-day banking and financing to long-term wealth planning and complex investments.

Services
private banking
wealth management
Clients
private individuals
Area Served
Worldwide
Products
current accounts
savings accounts
notice accounts
time deposit accounts
property loans
lombard loans
yacht or jet finance
Ways to Bank
branch branch
online banking online banking
mobile app mobile app

The Royal Bank of Scotland International Limited

Customer Rating
n/a
Country of Origin
GB United Kingdom

Incorporated in Jersey, Royal Bank of Scotland International is a offshore bank providing offshore banking products and services to individuals, SMEs, corporate and commercial customers and financial intermediaries. The Royal Bank of Scotland International Limited operates as a branch of Royal Bank of Scotland International (Jersey).

Services
offshore banking
personal banking
business banking
Clients
local residents
local businesses
UK residents
UK expats
Area Served
GIGibraltar
GBUnited Kingdom
Ways to Bank
branch branch
online banking online banking

Trusted Novus Bank Limited

Customer Rating
 (4.5; 4 ratings)
Country of Origin
GI Gibraltar

Jyske Bank (Gibraltar) was operating as a subsidiary of Jyske Bank A/S. In April 2020, Jyske Bank (Gibraltar) was sold to a new owner and was rebranded as Trusted Novus Bank. Trusted Novus Bank provides personal banking, commercial banking and private banking products and services.

Services
personal banking
commercial banking
private banking
wealth management
investment management
Clients
individuals
businesses
Area Served
Worldwide
Products
multi-currency accounts
Gibraltar mortgages
commercial loans
currency management
cashier services
VISA cards
treasury and FX
trade finance
money transmission
cheque books
Account Opening
submit online application
Ways to Bank
branch branch
online banking online banking

Turicum Private Bank Limited

Customer Rating
n/a
Country of Origin
GI Gibraltar

Turicum Private Bank is privately owned Gibraltarian bank and asset management company, established in 1993 by a group of Swiss private bankers, lawyers, asset and fund managers. Turicum Private Bank provides bespoke financial and investment solutions for private clients, asset managers and investment funds.

Services
asset management
portfolio management
advisory services
brokerage
Clients
private individuals
asset managers
investment funds
Area Served
Worldwide
Ways to Bank
branch branch
online banking online banking

Closed Banks

During 2013-2019 8 were closed down in Gibraltar, mainly due to consolidation with parent companies; 6 closed banks were originated from the United Kingdom, while 2 banks were from Switzerland. All three British building societies operating in Gibraltar as branches of foreign banks were closed down.

Country of Origin
CH Switzerland
Business Focus
wealth management
Close Date
31 January 2019
Country of Origin
GB United Kingdom
Business Focus
international private banking
Close Date
22 November 2017
Country of Origin
GB United Kingdom
Business Focus
savings and mortgage products
Close Date
29 November 2019
Country of Origin
GB United Kingdom
Business Focus
international private banking
Close Date
4 April 2014
Country of Origin
GB United Kingdom
Business Focus
international private banking
Close Date
4 April 2014
Country of Origin
GB United Kingdom
Business Focus
savings and mortgage products
Close Date
31 October 2017
Country of Origin
CH Switzerland
Business Focus
international private banking
Close Date
30 June 2016
Country of Origin
GB United Kingdom
Business Focus
savings and mortgage products
Close Date
24 May 2015

Bank JSS (Gibraltar) Ltd

Customer Rating
n/a
Country of Origin
CH Switzerland

In November 2016, J Safra Sarasin completed acquisition of Credit Suisse (Gibraltar) Limited and renamed it to Bank JSS (Gibraltar) Ltd. Bank JSS (Gibraltar) Ltd provided wealth management services to both private and institutional clients. Since January 2019, Bank JSS (Gibraltar) Ltd is in voluntary liquidation.

Barclays Bank PLC

Customer Rating
n/a
Country of Origin
GB United Kingdom

In 2016 Barclays Bank PLC decided to close down its business activities in Gibraltar. Barclays Bank transferred the majority of its Gibraltar residential and corporate mortgages and other loans to Gibraltar International Bank.

Leeds Building Society

Customer Rating
 (5.0; 1 ratings)
Country of Origin
GB United Kingdom

Leeds Building Society (Gibraltar) provides savings and specialist mortgage products for properties in Gibraltar. On Novermber 29, 2019, Leeds Building Society closed down its branch in Gibraltar.

Lloyds Bank (Gibraltar) Limited

Customer Rating
n/a
Country of Origin
GB United Kingdom

On 4 April 2014, Lloyds Bank completed the sale and transfer of its private bank businesses in Monaco and Gibraltar to Union Bancaire Privée, UBP SA (UBP) based in Switzerland.

Lloyds Bank plc

Customer Rating
n/a
Country of Origin
GB United Kingdom

On 4 April 2014, Lloyds Bank completed the sale and transfer of its private bank businesses in Monaco and Gibraltar to Union Bancaire Privée, UBP SA (UBP) based in Switzerland.

Newcastle Building Society

Customer Rating
n/a
Country of Origin
GB United Kingdom

Newcastle Building Society was incorporated in Gibraltar in 1990 and provided a broad range of investment and housing finance services in Gibraltar. Gibraltar branch of Newcastle Building Society was closed on 31 October 2017.

Union Bancaire Privee (Europe) SA

Customer Rating
n/a
Country of Origin
CH Switzerland

Founded in 1969 by Edgar de Picciotto, Union Bancaire Privée (UBP) is a Swiss private bank, providing private banking and asset management products and services for both individuals and institutional clients.

Services
private banking
asset management
advisory services
portfolio management
wealth planning
direct investments
Clients
high net worth individuals
independent asset managers
financial institutions
Area Served
Worldwide

Yorkshire Building Society

Customer Rating
n/a
Country of Origin
GB United Kingdom

Yorkshire Building Society was operating in Gibraltar under its trade name, Norwich & Peterborough Building Society. The Gibraltar branch has been closed down.

See Also