Name: HSBC (Hong Kong and Shanghai Banking Corporation Limited)
Origins: HSBC bank is based in London and was formed in 1991 by the Hong Kong and Shanghai Banking Corporation Limited. The bank was formed as a holding company whose origins lay in Hong Kong and Shanghai, the first two offices which were established in 1865. The bank was formed by a Scottish born Thomas Sutherland while working for the Peninsular and Oriental Steam Navigation Company, he realized the need for banking facilities in Hong Kong and mainland China. The bank’s original strategy was to finance trade between the Asia and the West and has since then grown into a world-leading international bank.
Founded: Hong Kong 1865, (HSBC Holdings plc.) London 1991
Headquarters: 8 Canada Square, Canary Wharf, London, UK
Operations: HSBC is the world’s second-largest bank with revenues and largest in terms of market share, with 6,600 offices employing 254,000 people in 80 countries with over 60 million customers in every major economy in the world, with the Americas, Asia Pacific and Europe representing one-third of its business.
Assets: HSBC has over US$2.67 trillion in assets with yearly revenue at US$68
billion and listed on the Hong Kong and London stock exchange and has secondary listings in New York, Paris and Bermuda Stock Exchanges and is a constituent of the Hang Send Index and the FTSE 100 index.
Divisions: HSBC has four major banking subdivisions: (1) Commercial Banking, (2) Global Banking and Markets, (3) Private Banking; and (4) Retail Banking and Wealth Management
Special Products: HSBC offers four specialized global products to customers.
Future Outlook: HSBC future holds much promise as it eyes continued Eastward expansion in its home as key to the integration and of Eastern and Western markets. The bank is seeking to grow through: continued generation of capital for investing in business while progressively growing the dividend, implementation of global standards through risk reduction and compliance and streamlining of processes and procedures.
Origins: The bank was formed by John Freame and Thomas Gould who started trading as goldsmith bankers in London, and it was John’s son-in-law James Barclay, who became a partner in 1736, giving the bank’s name known today. The first major expansion came in 1896 where several nationwide banks came together under the name Barclays and Co. and since then it has grown into a multinational banking company. The bank has operations in retail, wholesale, investment banking, wealth management, mortgage lending and credit cards.
Founded: 1690, London, UK
Headquarters: 1 Churchill Place, Canary Wharf, London UK
Operations: There are operations in over 50 countries with 4,750 branches, employing 140,000 people with 48 million customers. The bank has a wide international presence in Europe, the Americas, Africa, and Asia.
Assets: Barclays bank has assets of US$2.24 trillion with annual revenue of US$47.8 billion with a primary listing in the London Stock Exchange and secondary listing on the NY stock exchange and is a constituent of the FTSE 100 index.
Divisions: (1) Corporate and Investment Banking and Wealth and Investment Management; and (2) Retail and Business Banking
Special Products: Barclays has four core businesses – Personal and Corporate Banking, Barclaycard, Africa, and the Investment Bank – all or which offer products and services targeting individuals, small and medium businesses, corporations and institutions.
Future Outlook: Barclays is in the middle of a considerable downsizing since the global financial contraction over the past years, forcing the bank to cut many jobs and downsize portions of their operations, in an effort to keep the bank competitive in the global market. The bank posted a one billion dollar deficit in 2012, forcing the downsize and after considerable cutbacks the bank was able to come back in 2013 and post revenues exceeding US$2.2 billion.
Name: OCBC (Oversea-Chinese Banking Corporation Limited)
Origins: The Oversea-Chines Bank was founded in 1919 in Singapore. The Oversea-Chinese Banking Corporation Limited (OCBC) bank was founded out of the great depression through the merger of three banks, the Chinese Commercial Bank, Ho Hong Bank, and the Oversea-Chinese Bank, in 1932, which soon became the largest bank in Singapore. Their purpose is to help individuals and businesses across communities achieve their aspirations by providing financial services to meet their needs.
Founded: Singapore 1932
Headquarters: 65 Chulia Street, Singapore
Operations: The OCBC has operations mainly in South East Asia in 15 countries and territories with 500 branches and representative offices employing 20,000 people globally. Key markets include, Singapore, Malaysia, Indonesia, and Greater China.
Assets: In 2011 and 2012 the OCBC was ranked by Bloomberg as the world’s strongest bank with assets at more than SGD$224 billion and a net income of nearly SGD$2 billion. It is the second-largest banking group in Singapore and is listed on the SGX-ST as one of the largest listed companies in Singapore and South East Asia by market capitalization. OCBC also has an Aa1 rating from Moody's.
Divisions: OCBC has six divisions: Consumer Banking, Corporate Banking, Investment Banking, Global Wealth Management, Asset Management, Insurance
Special Products: (1) Investment Products-Unit trusts, treasury products, shares, commodities and forex (2) Insurance-Personal and family, savings with insurance, travel and car, home and mortgage (3) Loans-Personal loans, and home and property loans (4) Cards-Credit and debit cards (5) Accounts-Foreign currency accounts, children’s accounts, and deposits accounts.
Future Outlook: OCBC bank has been growing steadily over the last few years, despite the financial downturn, especially in Indonesia where the bank has a majority of its branches. The bank is looking to the future in hoping to deepen their presence overseas, leveraging on group synergies, improve customer experience, and balance their business scorecard.
Name: FBME (Federal Bank of the Middle East)
Origins: FBME is an international commercial bank that was founded in Lebanon in 1953 as the Federal Bank of Lebanon SAL. The Federal Bank of the Middle East (FBME) was formed in Cyrus as a subsidiary of the Federal Bank of Lebanon SAL and changed its name to FBME Bank in 2005 after moving its headquarters to Tanzania.
Headquarters: Samora Ave, Dar es Salaam, Tanzania
Operations: FBME has operations in Cyprus, Russia and Tanzania with seven branches worldwide.
Assets: FBME is the largest commercial bank in Tanzania with total assets valued at US$2.71 billion and with shareholder equity at US$179.63 million
Divisions: FBME offers services in corporate and personal banking as well as credit card and investment services, and online banking.
Special Products: Credit cards, consumer banking, corporate baking, investment banking, mortgage loans, private banking, wealth management
Name: Rietumu Banka (translation) (Western Bank)
Origins: Rietumu Banka was founded in Latvia and is a commercial bank that has its operations dated back to 1992 as one of the first private banks in the country. It is one of the largest banks in the Baltic region and is a leading bank in corporate relations in Latvia. The bank is well regarded in the banking sector and is known for its wide range of savings and capital growth services.
Headquarters: 7 Vesetas, Riga, Latvia
Operations: The bank has representation in the global market with customers all throughout Western and Eastern Europe as well as the Baltic States and Russia. The bank has sixteen branches offices, representative offices and partners in, France, Russia, Romania, Ukraine, Belarus and Kazakhstan employing over 600 people.
Assets: Rietumu Banka has assets of EUR 1.6 billion with total equity at EUR 196 million
Divisions: Savings, Cards, Lending, Trading and eCommerce
Special Products: Accounts, Payments, Foreign Currency Exchange, Remote Banking, Corporate Consulting, Residence permits in the EU
Future Outlook: It has one several awards in Latvia and Russia and has been named by Banker magazine as one of the most dynamically developing makings in Central Europe with a future that looks equally as bright.
Name: Credit Andorra
Origins: Credit Andorra is a bank cooperative that focuses on wealth management and international private banking. The bank is the leading financial group in Andorra and was formed in 1949 with the goal of providing banking services by creating close connections with customers. Since then the bank offers global financial solutions in a variety of countries all the while maintaining its intimate relationships with its clients.
Headquarters: 80 Meritxell Avenue, Andorra la Vella, Andorra
Operations: Credit Andorra has a presence in Spain, Luxembourg, Switzerland, U.S., Mexico, Panama, Paraguay, Peru and Uruguay, with ten branches employing 662 employees.
Assets: Fitch Ratings has rated Credit Andorra with a long term rating of “A-“ and a short term rating of “F2”. The bank has a high level of capitalization and liquidity ratio of 60% and a Tier 1 ratio of 15.8%. Andorra had income totaling EUR 227.9 million in 2013
Divisions: Private banking, Retail Banking (Individuals and Businesses) and Insurance
Special Products: Accounts, Credit Cards, Funding, Savings, Investments and Insurance services
Future Outlook: Credit Andorra has been received a number of awards, including best bank of the year in Andorra on seven occasions, by The Banker magazine, that have secured the banks reputation as a premier banking authority in Andorra with a future that despite a weak local economy, will continue to grow due to its strong liquidity, conservative management and continued profitability.
Name: Credicorp Bank
Origins: Credicorp Bank was founded in 1992 by a group of Panamanian businessmen who had a common vision supporting the growth of local Panamanian businesses by providing the country with access to financing opportunities. It was opened in the ‘Colon Free Trade Zone’ and today remains the biggest bank in Panama. Credicorp bank is owned by Credicorp Group which owns a large consortium of financial and commercial initiatives. Since its inception, Credicorp Bank has focused on retail banking growth, which was later diversified in commercial, loan and credit card services.
Headquarters: Plaza Credicorp, Panama City, Republic of Panama
Operations: Credicorp Bank has twenty-six branches throughout Panama and has gone international by opening a branch in Colombia in 2007 to help foster financial and foreign investing between the two countries.
Assets: Credicorp bank has assets of US 1.03 billion (2012) and reported a net income of US 18.8 million (2012). The bank’s return on average assets was 1.72% with liquidity ratios at 57.2%.
Divisions: Credicorp Bank offers Banking Services in Personal Private and Corporate Banking
Special Products: Credicorp Bank provides products in savings and checking accounts, personal loans, mortgage loans, credit cards, fixed-term deposits, and agricultural loans.
Future Outlook: Credicorp Bank will continue into the future, with much of that growth in Panama, though the bank has seen small growth outside of the country in Colombia. The bank also will continue to expand in the construction and agricultural markets and will continue to diversify its investment strategy into the future.
Name: Julius Bar
Origins: Julius Bar is a Swiss-based private bank account. Bank Julius Baer is the principal operating company of the Julius Baer Group and originally operated as a partnership which was incorporated in 1974. The bank dates back to 1890 when an exchange office was founded by Ludwig Hirschhorn and Theodor Grob. Julius Bar later joined in 1896 and since then have been the bank and has been run by four generations within the Bar family that have created one of the most respected private banks in the country.
Headquarters: Bahnhofstrasse 36, Zurich, Switzerland
Operations: Julius Bar has a presence in over twenty countries and employees 5,300 people throughout the world. The firm’s main focus and expertise is in wealth management and investing. The bank is traded on the SIX Swiss Exchange and is apart of the Swiss Market Index (SMI), which is one of the largest and most liquid Swiss stocks. The bank has a diverse international client base.
Assets: The bank had revenues of CHF 2.195 billion (2013) with equity of CHF 5.04 billion. The bank has a BIS tier 1 capital ratio of 22.4% and has an A1 rating from Moody's. The bank has a total client assets amounted to CHF 372 billion, with assets under management accounting for CHF 274 billion
Divisions: Wealth Management, Private Clients, Asset Managers and Advisors, Investing
Special Products: Fundraising and Derivatives, Portfolio Management, Fund Management, Foreign Exchange Trading, Securities Trading, Asset Liability Management
Future Outlook: Julius Baer is currently in the process of absorbing Merrill Lynch’s International Wealth Management business outside the US. This will greatly increase the banks presence around the world and will continue to contribute to the banks' growth. Also, in 2005 Julius Bar acquired the independent private banks Ferrier Lullin, Ehinger & Armand von Ernst, Banco di Lugano, and the asset management house Global Asset Management from UBS AG, becoming one of the largest wealth management firms in Switzerland. These acquisitions greatly adds to Bank Julius Baer’s growth strategy and will strengthen its leadership on the global private equity markets in Switzerland in Europe.
Name: BMI Offshore bank
Origins: BMI Offshore Bank is an offshore bank in Seychelles that offers services to both corporate and private clients around the world. It has obtained a license from the Central Bank in Seychelles and is only the 2nd of such type of banks that have been granted such a license in the past seven years. BMI Offshore bank is regulated by the Central Bank of Seychelles. The bank is a joint venture between the BMI bank (Bahrain) and the Seychelles based bank Nouvobanq. BMI Offshore bank is the first of its kind. Since the bank’s establishment, its vision was to form a merged universal baking institution in an effort to assist the development of the developing world.
Headquarters: Suite G-04, Capital City Building, Victoria, Mahe, Seychelles
Operations: The bank has two branches
Assets: BMI Offshore Bank posted profits of USD 1.3 million for 2012. Total assets are USD 2 billion (2012). Assets grew by 21% over the same year. Total income was USD 56.2 million (2012) Customer deposits grew by over 30% in the same year, from USD 1.09 billion to USD 1.42 billion. The bank holds a capital adequacy ratio of 18%.
Divisions: Retail, Mortgages, Corporate, and eBanking
Special Products: BMI Offshore Bank offers international corporate and individual accounts, internet banking, credit cards as well as multi-currency accounts, investment options, loans, and term deposits.
Future Outlook: The bank has a bright future as it is backed by some of the strongest financial institutions in the Gulf Cooperation Council, including the Bank Muscat (Oman), Royal Court of Affairs (Oman), Overseas Investments (Bahrain), Istithmar World (UAE), Financial Assets Bahrain (Bahrain), and Global Investment House (Kuwait). BMI Offshore Bank will focus on growing the business through the expansion of their customer base, backed by an excellent capital position, strong liquidity and stable future growth predictions.
Name: Bank of Saint Lucia
Origins: The Bank of St. Lucia is a subsidiary of the Eastern Caribbean Financial Holding Company. The bank was formed in 2001 through the merger of the National Commercial Bank and the St. Lucia Development Bank. The bank is the largest on the island and arguably the largest in the Eastern Caribbean, and as is a publicly-traded company listed in the Eastern Caribbean Securities Exchange. The Bank of Saint Lucia continues to deliver on its mission statement of being “the preferred provider of superior financial products and services through caring professional staff and appropriate technology”
Headquarters: 1 Bridge St., Castries, St Lucia
Operations: The Bank of St. Lucia has five branches throughout the island
Assets: The bank has assets of USD 1.9 billion and has USD 140 million in equity
Divisions: Bank of St. Lucia offers Retail Banking, Personal Banking, Corporate and Development Banking and Private Banking
Special Products: Card services, Insurance, Loans, Accounts, eBanking, Foreign Exchange
Future Outlook: The bank is looking to secure itself financially in the new year after reporting losses for the past year. They will be implementing a new retail sales model to strengthen and focus the efforts of the bank through new cost-effective initiatives as well as strengthening their customer support services.
Name: Euro Pacific Bank Ltd.
Origins: Euro Pacific Bank is headquartered in St. Vincent and the Grenadines and founded by Peter Schiffs and is primarily an offshore transactional bank. Euro Pacific Capital was founded in 1996 as a brokerage firm in Los Angeles. Euro Pacific Bank Ltd. is the parent company of Euro Pacific Intl., Euro Pacific Advisors Ltd., Global Trading Ltd., and Euro Pacific Funds SCC Ltd formed in order to provide international banking services and investment products to better serve inventors.
Headquarters: 111 Euro House, Stoney Ground Kingstown, St. Vincent and the Grenadines
Banking Info: The Euro Pacific Bank is regulated by the Financial Services Authority and is a Class A International Bank. The bank maintains a 100% deposit ratio, does not make any loans and does not leverage or speculate with customers assets. The bank derives its margins only from clients’ commissionable transactions and standard bank fees making the bank’s financial structure extremely safes and secure.
Special Products: Bank Accounts, Brokerage, Mutual Funds, Managed Accounts, Physical Precious Metal Investments, Multi Currency Accounts, eBanking
Name: Belize Bank International
Origins: Belize Bank International is a public offshore bank for corporate and private clients with a long-standing legacy working with clients in both Central and South America. The bank operating under the Belize Bank Group, which is one of the oldest banks in Central America and became active for offshore clients in 2006.
The bank has an extensive network of partners throughout the Americas who all help to provide the best quality products and services with discretion and privacy for all international financial needs.
Headquarters: Coney Drive, Belize City, Belize
Banking Info: Belize Bank International works work with many corresponding banks and intermediaries in Central and South America
Special Products: Multi-currency Account, Overdraft, Financing, Etters of Credit, CDs, Card Solutions, Merchant Services, Wire Transfers
Offshore Bank Account Opening Update: If you are looking for privacy and asset protection we reccomend offshore business accounts. Offshore personal accounts do not offer the privacy and asset protection you are looking for. We suggest using offshore corporate accounts or a private swiss accounts. Get in touch for more info.
Disclaimer: Offshore Protection strives to keep information on this website updated, however, laws and circumstances are subject to change. All information on this website is for reference purposes only and does not constitute legal or tax advice. Contact Offshore Protection for specific advice regarding your situation.