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: 4 domestic banks and 6 foreign-controlled banks, representing the United Kingdom, Denmark, 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
 Switzerland
Services
private banking
Area Served
Worldwide
Country of Origin
 Gibraltar
Services
private banking
wealth management
Area Served
Worldwide
Country of Origin
 Gibraltar
Services
retail banking
Area Served
Gibraltar
Country of Origin
 United States
Services
payment services
BIN sponsorship
payment cards programs
Area Served
EEA
Country of Origin
 Denmark
Services
personal banking
commercial banking
private banking
wealth management
investment management
Area Served
Worldwide
Country of Origin
 Switzerland
Services
private banking
portfolio management
investment advisory
Area Served
Worldwide
Country of Origin
 Gibraltar
Services
payment services
international transfers
foreign exchange
Area Served
Worldwide
Country of Origin
 France
Services
private banking
wealth management
Area Served
Worldwide
Country of Origin
 United Kingdom
Services
offshore banking
personal banking
business banking
Area Served
Gibraltar
United Kingdom
Country of Origin
 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
 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
Clients
individuals
entities
Area Served
Worldwide

G-Rock Limited

Customer Rating
n/a
Country of Origin
 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
within a few minutes
Ways to Bank
online banking
mobile app

Gibraltar International Bank Limited

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

Gibraltar International Bank provides personal and business current accounts, credit cards, and mortgages.

Services
retail banking
Clients
individuals
business entities
Area Served
Gibraltar
Products
current accounts
debit cards
savings accounts
time deposit accounts
personal loans
mortgage loans
business loans

IDT Financial Services Limited

Customer Rating
 (5.0; 1 ratings)
Country of Origin
 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
Austria
Belgium
Bulgaria
Croatia
Cyprus
Czech Republic
Denmark
Estonia
Finland
France
Germany
Greece
Hungary
Iceland
Ireland
Italy
Latvia
Liechtenstein
Lithuania
Luxembourg
Malta
Netherlands
Norway
Poland
Portugal
Romania
Slovakia
Slovenia
Spain
Sweden
United Kingdom

Jyske Bank (Gibraltar) Limited

Customer Rating
 (4.5; 4 ratings)
Country of Origin
 Denmark

Jyske Bank (Gibraltar) is a subsidiary of Jyske Bank A/S. Jyske Bank (Gibraltar) 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

Lombard Odier & Cie (Gibraltar) Limited

Customer Rating
n/a
Country of Origin
 Switzerland

Lombard Odier is a Swiss private bank providing private banking and asset management products and services since 1796.

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

Moneycorp Bank Limited

Customer Rating
n/a
Country of Origin
 Gibraltar

Moneycorp Bank was incorporated in London in 1962 and in 1979 started providing foreign exchange and payment services.

Services
payment services
international transfers
foreign exchange
Clients
natural persons
business entities
Area Served
Worldwide

SG Kleinwort Hambros Bank (Gibraltar) Limited

Customer Rating
n/a
Country of Origin
 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

The Royal Bank of Scotland International Limited

Customer Rating
n/a
Country of Origin
 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
Gibraltar
United Kingdom

Turicum Private Bank Limited

Customer Rating
n/a
Country of Origin
 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

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

Bank JSS (Gibraltar) Ltd

Customer Rating
n/a
Country of Origin
 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
 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
 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
 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
 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
 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
 Switzerland

Union Bancaire Privée (UBP) is a Swiss private bank, providing private banking and asset management products and services for both individuals and institutional clients.

Yorkshire Building Society

Customer Rating
n/a
Country of Origin
 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