Financial sector of Gibraltar is focused on providing the following financial services:
Banks in Gibraltar are mainly focused on the following areas:
Gibraltar Financial Services Commission
Currently there are 10 credit institutions operating in Gibraltar.
In 2015 consolidated banking assets in Gibraltar were 7,851.90 mln GBP. The consolidated banking assets' evolution is shown at Chart 1 below.
Chart 1. Consolidated banking assets in Gibraltar.
Recent structural changes (2013 - 2018) of the banking sector of Gibraltar are summarised in Table 1.
|Number of Opened Banks||1||0||1||0||1||0|
|Number of Closed Banks||0||2||1||1||2||0|
Table 1. Recent structural changes in the banking sector of Gibraltar.
The list of the most recently opened banks in Gibraltar is provided in Table 2.
All the credit institutions operating in Gibraltar can be classified into several categories. Table 3 summarises the number of banks in each category.
|Category||Number of Banks|
|Branches of foreign banks||1|
There are 1 branches of foreign banks from 1 different countries in Gibraltar. Table 4 shows the number of branches grouped by the country of origin.
|Country of Origin||Number of Branches|
Deposit guarantee scheme is a financial stability mechanism implemented in many countries to protect bank depositors against the loss of their deposits in the case when a bank is unable to meet its obligations to depositors by compensating certain deposits held by depositors of the bank. This compensation is paid out from the contributions which banks have made into a deposit guarantee fund.
From a depositor's point of view it is important to know:
All these details about deposit guarantee scheme in Gibraltar are summarised in Table 5.
Table 5. Deposit guarantee scheme in Gibraltar.
EEA stands for European Economic Area and consists of all EU member states plus Liechtenstein, Norway and Iceland.