Top Banks in the Cayman Islands

An overview of leading Cayman Islands financial institutions

Overview of Banks in the Cayman Islands

There are 111 banks in the Cayman Islands, the majority of which are branches (66) and subsidiaries (31) of international banks. The Cayman Islands is one of the leading international financial centers in the world. Over 80% of more than US $1 trillion of deposits are booked through banks in the Cayman Islands, representing interbank bookings between onshore banks and their domestic branches or subsidiaries.

According to Moody’s, the country’s banking system is stable, reflecting the low government debt burden and low pandemic-related increases. A very high per-capita income supports the islands’ ability to deal with economic and weather-related shocks despite its small size, as well as a history of strong institutions and a broad consensus on macroeconomic policies.

Under the country’s Banks and Trust Companies Law, the Cayman Islands Monetary Authority may issue the following categories of licenses:

  • Category A Banking License – Allows a bank to operate both in the domestic and international markets and provide services to residents and non-residents of the Cayman Islands.
  • Category B Banking License – Permits a bank to conduct international banking business with non-residents only and domestic banking business with other licensed entities in the Cayman Islands.
  • Trust License – Wherein a bank acts as trustee, executor, or administrator
  • Restricted Category B Banking License
  • Restricted Trust License
  • Nominee (Trust) License

As of March 2021, there are 10 banks in the Cayman Islands with Category A licenses. Category A banks serve local residents and provide traditional retail, private, and corporate solutions. There are 101 banks holding Category B licenses, providing only offshore banking services to individuals and corporations.

Banks in the Cayman Islands

For anyone considering a career in banking in the Cayman Islands, this list of top banks in the Cayman Islands is a helpful guide on where to start. To learn more, see our lists of financial institutions.

The Top Banks in the Cayman Islands Include:

Cayman National Bank

Cayman National Bank was incorporated in 1974. The bank provides a full range of domestic and international financial services, including online banking, investment services, trust services, company formation, administration and management, fund management, and premier banking. 

As of March 8, 2019, Cayman National Corporation Ltd. operates as a subsidiary of Republic Bank Trinidad and Tobago (Barbados) Limited. It holds a Category A banking license.

Net income: KYD 24.6 million (2019)

Total assets: KYD 1.44 billion (9/2019)

Alexandria Bancorp Ltd

Founded in 1990, Alexandria Bancorp is one of the Category B banks in the Cayman Islands. It is allowed to provide banking and trustee services to international clients. It offers Private Banking, Wealth Management, and Trust and Corporate services.

It is a wholly-owned subsidiary of Guardian Capital Group, which is based in Toronto, Canada.

Alhambra Bank & Trust Ltd

Alhambra Bank was founded in 2014. The bank is into providing and serving the needs of high-net-worth, non-U.S. clients with deposits of at least US$1,000,000.

It offers banking and investment services to clients across multiple jurisdictions. It holds a Category B bank license in the Cayman Islands.

Trident Trust Company (Cayman) Ltd

Trident Trust Company is a leading independent corporate, fiduciary, and fund administrator, employing nearly 800 staff across a global footprint that spans Africa, the Americas, Asia, the Caribbean, Europe, and the Middle East. The company provides corporate, trust, and fund services in the financial services sector worldwide. It specifically offers services related to corporate formation and administration, establishment and administration of private trust companies for families, and fund administration.

Trident Trust Company holds a Category B license for banks in the Cayman Islands. It serves other banks and brokerage firms, law and accounting firms, and high-net-worth individuals and their families.

Cainvest Bank and Trust Ltd

The Cainvest bank came into existence in 1994 after it bought the banking operations of corporate services provider, Intertrust Bank (Cayman) Limited in the Cayman Islands. Cainvest Bank and Trust offers private banking platform services and investment products and services to high-net-worth individuals and institutional clients. The bank is based in George Town, the Cayman Islands, with distribution locations in Argentina, Brazil, and Uruguay.

Cainvest Bank and Trust Limited holds a Category A banking license. The company was formerly known as Cainvest International Bank Ltd and later changed its name to Cainvest Bank and Trust Ltd in 2015.


Fidelity Bank (Cayman) Ltd

Fidelity Bank (Cayman) Limited is a financial services group offering a comprehensive range of domestic and international banking, insurance, and other financial products and services.

Established in 1980, Fidelity holds a Category A banking license.

Merrill Lynch Bank and Trust Company (Cayman) Ltd

The Merrill Lynch Bank and Trust Company conducts banking and trust operations for customers of its affiliates (client corporations, high-net-worth individuals, and other financial institutions). The bank’s product range includes secured loans, interbank placements, deposits from private clients, and foreign exchange transactions.

Merrill Lynch Bank and Trust Company (Cayman) Limited holds a Category A banking license.

Queensgate Bank and Trust Company Ltd

Queensgate Bank and Trust Company was incorporated in the Cayman Islands in 1990 and is a member of Ugland Group (Norway). The group’s core businesses are ship ownership and management. It provides investment funds, accounting, trust, and company administration and banking services.

Queensgate Bank and Trust Company Ltd. holds a Category B banking license.

Sackville Bank and Trust Company Ltd

Sackville Bank is an independent, private, boutique bank. The bank provides fiduciary services for trust and corporate structures, as well as custodial services and strategic investment management solutions.

Sackville Bank and Trust Company Limited holds a Category B bank license in the Cayman Islands.

VBT Bank & Trust Ltd

VBT Bank is a wholly-owned subsidiary of VBT Holdings Ltd, which is also incorporated in the Cayman Islands. In 1998, it acquired Venecredit International Banking Ltd, and the resulting merged institution was named Venecredit Bank & Trust Ltd. In 2012, the bank changed its name to VBT Bank & Trust Ltd.

The bank holds a Category B banking and trust license. It is a broker member of the Cayman Islands Stock Exchange and a member of Visa International and SWIFT. It provides offshore banking and trust services.

Net income: KYD 17.9 million (2020)

Total assets: KYD 348.3 million (2020)

Careers in Investment Banking

To break into investment banking, there are several important things to focus on. These include networking, resume, experience, and financial modeling skills. To learn more, explore our interactive career map:

investment banking careers

For banking careers, you will have a significant edge over the competition with our financial modeling courses.

Additional Resources

This has been CFI’s guide to the top banks in the Cayman Islands. For anyone looking for a career in banking, this list is a great place to start your networking. Please also see these additional resources:

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