Capital G In Discussions With Potential Partners

December 5, 2013

Capital G Bank today [Dec 5] confirmed that it is “in discussions with potential partners as part of its overall strategic growth plans to broaden its product offerings, grow the size of its customer base and compete more aggressively for business locally and internationally.”

Capital G CEO Ian Truran stated that, “Capital G continues its efforts to build relationships with key partners in order to position itself for future growth.

“A potential investment in Capital G by a suitable partner, aligns with the Bank’s overall business growth plans to expand into new markets while also providing a strong platform for the development of other key segments such as institutional banking and wealth management.”

Mr. Truran continued by saying, “Any potential partnership represents Capital G’s commitment to Bermuda and its continued desire to play an integral role in the economy and the financial services industry.”

The Company also noted that any rumors relating to an acquisition by Somers Group, holding company for BCB are not factual.

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  1. Capital G Limited Acquired By CWH Limited | | January 7, 2014
  1. Victor says:

    Sounds like the balance sheet might need a capital infusion?

    • Sandgrownan says:

      Does this mean they are just “G” and not “Capital G” ?

      • Family Man says:

        lol, I think they welcomed too many people to the family who couldn’t pay their loans.

    • Family Man says:

      They need it.

  2. Y-Gurl says:

    Seems that Capital G has been sliding downhill fast after taking over FBS, maybe they bit off more than they could chew, it’ll be interesting to see the partner that wants a load of defaulted mortgages and property

  3. Truth is killin' me... says:

    And everyone thought BNTB would be the next one to follow Bank of Bermuda/HSBC and be bought up by CIBC. Looks like Capital G beat them to the punch. BNTB was just named Bank of the Year so they must be in better shape.

  4. Observer says:

    Capital G is a great bank,and will even get greater, if bought.

  5. Hurricane says:

    My understanding is that HSBC have been in talks to with them to take over. Watch this space!

    • Scadaffi says:

      HSBC can’t keep their present customers happy, so hope they don’t take on Capital G.

    • Chit Chat says:

      I hope not. I was just about to move my business from HSBC and was looking at CapG. I will have to wait now.

      • Tina says:

        Butterfield Bank, be prepared to have an influx of new customers.

    • Victor says:

      I would have thought HSBC are looking for a way out of Bermuda retail banking now that all the juiciest bits of Bank of
      Bermuda are fully absorbed into their empire. If some entity, even HSBC itself, made a strategic investment in Capital G, HSBC’s Bermuda retail headache could merge with Capital G and really give a resurgent BNTB a run for their money. If this guess is correct, I would hope the BMA says no in the interests of keeping the market from being just two players again.

  6. somuchless says:

    they need Help