Capital G is Bermuda’s only true local bank and one of only four licensed banks on the island. It is a subsidiary of Edmund Gibbons Limited, a private company owned by one of Bermuda’s oldest families.
The head office and main banking centre is situated on Reid Street in Hamilton. At the start of 2013 they closed their branch on Church Street and opened a branch in Paget.
The main services provided are:
- Personal Banking – Chequing and savings accounts, retirement planning, mortgages, money transfers, online banking, credit and debit cards, and loans.
- Business Banking – Business loans, business chequing and savings accounts, deposits, electronic banking, local and international transfers, and business credit cards.
- Private Banking – Cash management, investment management, lending, brokerage and custody services, estate and trust planning, and investments.
With almost 200 staff they are one of the biggest employers on the island. Job vacancies are published on the official website.
Hours are 8.30 am to 5 pm Monday to Friday, and 9.30 am to 5 pm on Saturday.
Numerous insurance products (health, property, motor, marine, business etc.) are offered through their sister company, the Colonial Group International.
Capital G ATMs are situated at several locations around the island.
History – Gibbons Group
The Gibbons family is one of the most prominent on the island. Although they can trace their history on the island back to 1612, when William Gibbons arrived from England, they did not achieve significant success until the 20th century.
Edmund Gibbons was born in 1894. He left school aged 13 and shortly after started his first job, working as a cashier at the now defunct Trimingham Brothers. In 1916, aged just 22, he purchased a small shoe repair shop on Reid Street in Hamilton. Two years later the business moved the short distance to Queen Street, next to Queen Elizabeth Park, and began to sell men’s clothes and shoes. Following the success of the men’s store, the Woman’s Shop was established in 1923. In 1987 it would become the Gibbons Company department store.
In 1946, following a fiery debate, the island’s House of Assembly decided to lift the ban on private cars. Edmund saw an opportunity and established Bermuda Motors. Today the company is one of the island’s biggest car dealerships, selling cars from manufacturers such as BMW and Mini, Ford, Toyota, Kia, and Fiat.
In 1958 Colonial Insurance was formed to sell car insurance to customers of Bermuda Motors. The Colonial Group International now operates in Bermuda, the Cayman Islands, the Bahamas, and the British Virgin Islands. It offers property insurance, motor and marine insurance, health insurance, life assurance, and pensions.
Capital G itself evolved from the Gibbons Deposit Company. Edmund established this in 1936 so that his retail customers could deposit money into an account, purchase goods, and receive dividends at the end of the year. Since the passing of the Deposit Companies Act in 1974 it operated as a licenced deposit taking institution, in a similar manner to a UK building society or a US savings and loan association. In 1999 Capital G was formed to provide a one-stop financial shop for island residents. In October 2001 it received a banking licence from the Bermuda Monetary Authority, the first bank licensed under the 1999 Bank and Deposit Companies Act.
Other businesses in the group include Burrows Lightbourn (wine and spirits merchants) and First Atlantic Commerce (offers internet payment solutions).
Members of the Gibbons family have also excelled in political life. Sir David Gibbons was Premier of Bermuda from 1977 to 1982. Grant Gibbons, his nephew, is currently the Minister for Economic Development. The family has also donated several tracts of land for use as nature reserves. During the week you can also visit the home of Sir David Gibbons in Devonshire Parish and enjoy the beautiful Palm Grove Gardens.
Map showing location of Clarien.
Click here for a detailed map showing all points of interest.
19 Reid Street