Atlantic Bank

What Atlantic Bank does

Atlantic Bank Ltd. is a privately held commercial bank incorporated and headquartered in Belize City, Belize, established on August 16, 1971. It provides retail, MSME, and corporate banking services to individual consumers, small and medium enterprises, and large commercial clients (including hotels, tour operators, and car rentals) across all districts of Belize. The bank's product suite spans deposit accounts (savings, checking, time deposits, safety deposit boxes), lending (personal loans, mortgages, business loans, overdrafts, letters of credit), payment cards (Visa Classic, Visa Gold, Mastercard Classic, Mastercard Gold, debit cards with chip and contactless technology), merchant services (POS, payment gateway, E-Package, American Express acceptance), wire transfers in USD/CAD/EUR/GBP, and foreign exchange under Central Bank of Belize oversight.

The bank operates a multi-channel distribution model combining 15 physical branches and 19-21 ATMs with four digital channels: Atlantic Online web banking, Atlantic Bank Mobile App, GoMobile voice banking (24/7 IVR accessible via *46225), and the AtlaXpress agent network at retail merchants. Security infrastructure includes OneAccess Token authentication, SSL encryption, chip-and-contactless card technology, and forthcoming 3D Secure authentication. The bank integrates with 25+ counterparties — utilities (Belize Electricity, Belize Telemedia, Belize Water Services), telecommunications (SMART), government (Social Security Board, municipal councils), and multiple schools — for real-time bill payments.

Revenue is generated through net interest spreads on loans and deposits, transaction and service fees (wire transfers, ATM withdrawals, cash advances, credit card fees), card interchange and merchant services commissions, and ancillary fees (safety deposit box rentals). The bank is part of the Atlantic Group of Companies alongside Atlantic Insurance Company Limited (founded 1990) and Atlantic International, providing insurance cross-sell. Atlantic Bank employs 400+ staff and serves customers through relationship-based banking supported by digital self-service channels.

Name

Atlantic Bank

Legal name

Atlantic Bank Ltd.

Website

https://atlabank.com

Company type

Private

Founded year

1971

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Atlantic Bank Ltd. is a privately held Belizean commercial bank founded in 1971 that provides retail, MSME, and corporate banking services through 15 branches, 19-21 ATMs, and digital channels (online, mobile, voice, agent banking) nationwide in Belize.

Ownership category

akta.pro rank

Product category

Retail and Commercial Banking

NAICS

Commercial Banking (52211), Commercial Banking (522110), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021), State Commercial Banks (6022)

akta.pro primary industry

SME Business Lending (Term Loans, Lines of Credit, Overdrafts) (FSABABAB)

akta.pro secondary industries

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

Keywords

• Retail banking services
• Commercial banking
• Digital banking platform
• Merchant payment services
• Trade finance solutions

Headquarters

HQ city

Belize City

HQ country

Belize

Offices15 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Interest Income: Revenue from interest charged on loans including personal loans (Easy Credit), mortgages, business loans, credit cards, and overdrafts. Interest rates vary by product with credit cards at 22% for Visa Classic.
2. Transaction and Service Fees: Fees from wire transfers (bank charge, exchange rate, stamp duty), ATM withdrawals at other banks ($3.00 + 0.33%), credit card fees (cash advance 3.5%, over-limit/late/arrears $25), check orders, and stop payments
3. Card Transaction Fees: Revenue from merchant services including POS transactions, payment gateway transactions, and credit/debit card interchange fees from international transactions
4. Safety Deposit Box Rental: Annual rental fees for safety deposit boxes ranging from $96 to $295 depending on size, plus $109 refundable guarantee deposit
5. Time Deposit Interest Spreads: Revenue from time deposits (3, 6, 12 month terms) with negotiable rates depending on amount and term, earning spread between deposit rates and lending rates
6. Merchant Services: Commission-based revenue from payment processing for merchants including POS machines, payment gateway, e-packages for hotels, and American Express acceptance

Pricing tiers

Go-to-market motion2 records

Distribution channels9 records

Marketing channels6 records

Core offering

Atlantic Bank Ltd. is a Belizean commercial bank providing a full suite of personal, MSME, and corporate banking products including savings and checking accounts, credit and debit cards (Visa and Mastercard with chip and contactless technology), personal and business loans, wire transfers, letters of credit, and foreign exchange. The bank distributes these services through 15 branches, 19+ ATMs, digital channels (Atlantic Online web banking, Mobile App, and GoMobile interactive voice banking), an AtlaXpress agent-based network, and merchant services including POS, payment gateway, and American Express card acceptance.

Product overview

Atlantic Bank offers a comprehensive suite of banking products and services through a multi-channel platform combining digital (Atlantic Online, Mobile App, GoMobile) and physical (branches, AtlaXpress agents, ATMs) touchpoints. Consumer offerings include savings and checking accounts, credit cards (Visa and Mastercard with chip/contactless technology), debit cards, personal loans, and insurance partnerships. Business services encompass commercial lending, payroll processing, merchant services (POS, Payment Gateway, E-Package, American Express), wire transfers, letters of credit, night deposits, and foreign exchange. Security is enhanced through OneAccess Token authentication and chip technology.

Differentiator

Problem solved

Functional benefit

Products and services

• Atlantic Online Banking Comprehensive web-based banking platform for personal, MSME, and corporate customers to manage accounts, perform transfers (including third-party and other-bank transfers), pay bills to utilities and schools, and manage credit card payments in real time.
• GoMobile Voice Banking Interactive voice assistant for 24/7 phone-based banking without internet access, allowing credit top-ups, bill payments, fund transfers up to $1,500 daily, account and credit card balance inquiries, mini statements, credit card payments, and stop payments.
• Atlantic Bank Mobile App Mobile banking application for iOS and Android allowing customers to manage accounts, perform transfers (including third-party and other-bank transfers), pay bills and credit cards, track transactions, and submit product requests for loans or credit cards.
• AtlaXpress Agent Banking Agent-based banking service enabling customers to perform financial transactions at neighborhood retail stores (gas stations, supermarkets, stores) including cash withdrawals up to $300 daily, bill payments, credit card payments, top-ups, and inter-account transfers.
• Credit Cards (Visa & Mastercard) Four credit card products (Visa Classic, Visa Gold, Mastercard Classic, Mastercard Gold) with global acceptance, chip and contactless technology, fraud protection, price protection, purchase protection, and extended warranty benefits; Visa Classic carries a 22% interest rate with 3.5% cash advance fee and $25 over-limit/late/arrears fee.
• Visa Debit Card Chip and contactless debit card free upon account opening, accepted at Visa-enabled merchants and ATMs globally, enabling purchases, payments, and ATM withdrawals with real-time deduction from savings or checking accounts; FREE at Atlantic Bank ATMs, $3.00 + 0.33% at other bank ATMs.
• Chip and Contactless Card Technology Card technology featuring an embedded chip that generates unique one-time codes per transaction with contactless tap-to-pay capability, providing enhanced security against fraud and card cloning.
• Payment Gateway Secure online payment gateway allowing hotels and businesses to process credit and debit card payments in real time with built-in authentication, verification, and virtual terminal capabilities for e-commerce and reservation systems.
• Point of Sale (POS) Terminals Payment processing service enabling merchants to accept Visa and Mastercard credit and debit cards with next-day account crediting and online audit capabilities for daily transaction visibility.
• American Express Card Acceptance Merchant acquiring service enabling businesses to accept American Express cards, targeting high-spending cardholders with next-day payments, competitive rates, and free POS machines.
• E-Package Software Solution Software solution enabling hotels and tour operators to create travel packages and accept online credit/debit card payments directly through their websites without sending card information via email or fax.
• Wire Transfers International wire transfer service supporting multiple currencies (USD, CAD, EUR, GBP) with outgoing and incoming transfer capabilities through correspondent banking relationships.
• Letters of Credit Credit guarantees for importers and exporters to establish formal credit relationships with international suppliers and buyers, available as stand-by or documentary letters of credit.
• Night Deposits 24-hour deposit facility allowing business customers to safely deposit daily earnings at most branches using night depository services.
• Foreign Exchange Services US Dollar sales service for international payments and financing needs, requiring approval from the Central Bank of Belize with proper documentation.
• Savings Accounts Multiple savings account options including Super Junior Savers for children up to 17 years, Regular Savings for adults (2.50% interest per annum on balances above $1,000), and Senior Savers for customers 60 years and older, with interest rates up to 3.00% ANIR.
• Checking Accounts (Personal & Corporate) Personal and corporate checking accounts including Essential Account for everyday banking (minimum deposit $20, free debit card) and Retail Chequing with chequebook access (minimum deposit $150).
• Easy Credit Personal Loans Personal loans with minimum amounts of $1,500, terms of 12-60 months, competitive low interest rates, and fast approval for vehicles, home improvements, debt consolidation, and other personal needs.
• Personal Lending Personal loans with minimum amounts of $3,000 and terms of 12-60 months for home improvements, vehicle purchases, education expenses, and loan refinancing.
• MSME Business Loans and Services Business financing for micro, small and medium enterprises including working capital loans, overdrafts, equipment financing, inventory financing, seasonal cash flow solutions, and MSME credit cards.
• AtlaXpress Merchant Services Merchant service enabling retail businesses to act as AtlaXpress agents offering financial transactions to customers including cash withdrawals, bill payments, credit card payments, top-ups, and balance inquiries.
• Atlantic Insurance Partnership Referral partnership with Atlantic Insurance Company Limited (Atlantic Group affiliate operating since 1990 with 13 branches and 7 agents) offering motor, ordinary life, property, accident, liability, marine insurance, backed by reinsurers rated by S&P, A.M. Best, and Moody's.
• Safety Deposit Boxes Secure storage service with five box sizes ranging from 3x5 to 10x16 inches (Extra Small to Extra Large), requiring 6-month customer relationship, with $109 refundable guarantee deposit and annual rental fees ranging from $96 to $295.
• Bill Payment Services Multi-channel bill payment service (teller, online, mobile, GoMobile, AtlaXpress) for 25+ utility, telecommunications, education, government, insurance, and cable network merchants across Belize.

Quantifiable outcome

• Convenient 24/7 banking access through multiple digital channels
• +2 more outcomes

Named customers17 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Eleven partnerships are on record, tiered minor, core and strategic.

• Institute for Sustainability of Community and Environment (IN.S.C.E)minorStrategic or Co-development Partner · 1 January 2016Partnership for Go Green initiative producing eco-friendly bags from natural fabrics to promote paperless banking and reduce environmental impact. The initiative provides jobs for local craftsmen while supporting environmental sustainability.
• Atlantic Insurance Company LimitedcoreStrategic or Co-development Partner · 1 January 1990Atlantic Insurance is the bank's affiliate company within the Atlantic Group of Companies. It has been serving Belize since 1990 with 13 branch offices and 7 insurance agents. Offers motor, ordinary life, property, accident, liability, marine insurance and more, backed by reinsurers with S&P, A.M. Best, and Moody's ratings.
• Atlantic InternationalcoreOthersAtlantic International is part of the Atlantic Group of Companies alongside Atlantic Bank and Atlantic Insurance, representing the broader corporate group structure.
• VisacoreTechnology or IntegrationVisa is the primary card network for Atlantic Bank credit and debit cards. Atlantic Bank offers Visa Classic and Visa Gold credit cards with global acceptance, fraud protection, price protection, purchase protection, and extended warranty benefits.
• MastercardcoreTechnology or IntegrationMastercard is the secondary card network for Atlantic Bank credit cards. Atlantic Bank offers Mastercard Classic and Mastercard Gold cards with global acceptance and purchase protection benefits.
• American ExpressstrategicTechnology or IntegrationAtlantic Bank has partnered with American Express to enable merchants to accept American Express cards, attracting high-spending customers and expanding merchant customer base with competitive rates and free POS machines.
• Mastercard (Entrepreneur's Odyssey)minorGTM or Marketing PartnerAtlantic Bank MSME customers have access to Mastercard's Entrepreneur's Odyssey educational program featuring content from academics, entrepreneurs, and industry leaders for business growth.
• Strive CommunityminorGTM or Marketing PartnerAtlantic Bank MSME customers can access Strive Community's E-Commerce Training Course designed to help small businesses boost online sales and achieve sustainable growth.
• MicroMentorminorGTM or Marketing PartnerAtlantic Bank MSME customers can connect with experienced mentors from one of the world's largest mentoring business communities at no cost for business guidance and growth support.
• Correspondent BanksstrategicTechnology or IntegrationAtlantic Bank maintains correspondent banking relationships for international wire transfers, enabling transfers to and from banks worldwide in major currencies (USD, CAD, EUR, GBP). BIC code: LIBABZBZ.
• Central Bank of BelizecoreOthersAtlantic Bank operates under regulatory oversight from the Central Bank of Belize, which requires foreign exchange permits (XCH 1 forms) for international currency movements and governs exchange regulations.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Scotiabank Belize: Scotiabank operates a Belize subsidiary offering retail, commercial, and wealth banking as part of a global Canadian bank — a larger, well-capitalized incumbent that competes with Atlantic Bank on corporate banking, FX, and trade finance in Belize.
• Republic Bank (Republic Financial Holdings): Republic Financial Holdings is a major Caribbean banking group operating across multiple territories offering retail, SME, and corporate banking — a regional incumbent comparable in scope and customer mix to Atlantic Bank, but at much larger scale.
• FirstCaribbean International Bank (CIBC): FirstCaribbean (now part of CIBC) operates across the Caribbean offering retail and corporate banking — a regional incumbent that serves Belizean corporates with cross-border capabilities that Atlantic Bank cannot match directly.

Direct peers

• Heritage Bank Limited (Belize): Heritage Bank is a Belize-licensed commercial bank offering personal and business banking, savings, loans, and digital services — directly competing with Atlantic Bank across Belize's retail and SME markets.
• Belize Bank Limited: Belize Bank is the primary direct competitor to Atlantic Bank — a major commercial bank headquartered in Belize City offering retail, SME, and corporate banking with branches and ATMs across the country, directly competing for the same customer segments.
• Bank of Belize: Bank of Belize is a domestically chartered commercial bank serving retail, corporate, and government clients — a head-to-head competitor to Atlantic Bank in Belize for deposits, lending, and government banking mandates.

Regional players

• Sagicor Financial Company: Sagicor is a Caribbean financial services group with banking and insurance operations across multiple Caribbean markets — comparable to the Atlantic Group's banking-plus-insurance model, though primarily serving different geographies.
• Banco Atlántida: Banco Atlántida is a Honduran commercial bank with a Central American footprint offering retail, SME, and corporate banking — a regional comparable in scale and product mix to Atlantic Bank, though operating across Honduras rather than Belize.
• Banco Industrial (Guatemala): Banco Industrial is Guatemala's largest private commercial bank offering retail, SME, and corporate banking — comparable in commercial banking scope and customer segments to Atlantic Bank, though serving the larger Guatemalan market.

Emerging players

• JMMB Group Limited: JMMB is a Caribbean financial services group offering banking, lending, and investments across Jamaica, Trinidad, and the Dominican Republic — comparable in scale and diversified financial services model to the Atlantic Group, with regional Caribbean ambitions.

Market position

Strengths4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/atlantic-bank-ltd

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Atlantic Bank