History
The Bank of Nassau stands as a cornerstone of Bahamian financial heritage, tracing its lineage from the late 19th century to its modern role as a premier offshore private bank. Founded to stabilize the Bahamian economy and rebranded in 2025 as a beacon of sophisticated wealth management, it bridges The Bahamas’ storied past with its global financial prominence.
Chartered in 1888 as the first commercial bank to issue currency in The Bahamas, then a British colony, the Bank of Nassau addressed a fragmented monetary system reliant on British pounds, Spanish dollars, and U.S. coins. Its notes, launched in 1890 in £1, £5, and £10 denominations, featured elegant designs of Queen Victoria and Bahamian motifs, backed by sterling reserves. Pegged to the U.S. dollar at 1:1, these notes stabilized trade during the 1890s silver crisis, cementing the bank’s role in formalizing the Bahamian pound.
The Bank of Nassau re-emerged in 1982 as Gonet Bank & Trust, a Swiss-Bahamian venture under Geneva’s prestigious Gonet & Cie SA (est. 1815). Licensed by the Central Bank, it offered bespoke wealth management and fiduciary services to ultra-high-net-worth clients, capitalizing on The Bahamas’ tax-neutral status. Navigating the 1980s Latin debt crisis and 2008 global downturn, it grew assets to $500 million by 2015, earning Euromoney’s “Best Private Bank in the Caribbean” in 2018 for its discreet, innovative approach, including sustainable investment portfolios.
In 2025, LBT Holdings Ltd., a partnership between Levant Advisors and fintech leader Quantfury, acquired the bank. Rebranded as Bank of Nassau 1982 Limited, it honors its historic roots while advancing a vision of innovative, client-focused financial services. With a commitment to personalized wealth management and fiduciary excellence, the bank stands poised to shape the future of global private banking.