First Global Bank

What First Global Bank does

First Global Bank Jamaica Limited is a privately held commercial bank operating across Jamaica and regulated by the Bank of Jamaica. The bank traces its origins to 1970 as The First National Bank of Chicago (Jamaica) Limited, was acquired as a joint venture by Trafalgar Development Bank (51%) and GraceKennedy & Co. Ltd. (49%) on March 26, 1993, became a wholly-owned subsidiary of GraceKennedy Limited on November 3, 2000, and was renamed First Global Bank Limited on January 1, 2002. As of December 2017, FGB reported an asset base of over US$400 million with just over 200 employees. It operates exclusively within the Jamaican market with 8 full-service branches (Kingston Downtown, Liguanea, New Kingston, Manor Park, Portmore, Mandeville, Ocho Rios, Montego Bay), First Global MoneyLink mini-branches, agent locations, ABMs, and Video Teller Machines.

The bank serves three primary segments: Personal Banking, SME Business Banking, and Corporate/Business Banking. Its core technology stack is anchored by the Global Access Plus online and mobile banking platform (launched as a major upgrade in 2020), supported by biometric authentication (fingerprint/facial recognition), soft-token multi-factor authentication, EMV chip-and-PIN debit cards (introduced in Jamaica in 2011), contactless payment capability, and iOS/Android mobile apps. FGB has historically positioned itself as a digital-first mover in Jamaica — launching the country's first mobile banking app (2010), first VISA Debit Card with Chip and PIN (2011), first Video Teller Machines (2017), and first banking agent service (September 2018). Product breadth spans savings accounts (Starter, Standard, Partna Plan, Global Kids & Teens), chequing accounts (Interest Chequing, Foreign Currency), residential mortgages (up to J$25M / 30 years / 97% LTV with NHT joint financing), a multi-tier VISA credit card portfolio (Classic, Affinity, Gold, Platinum USD, Platinum Plus, Tax Business, GK100+ Business), corporate banking facilities (Early-Stage Financing up to J$15M, structured financing, lines of credit, commercial loans, banker's guarantees, letters of credit, letters of undertaking), wire transfers via RTGS/SWIFT, and foreign exchange services in USD, CAD, GBP, and EUR.

FGB's revenue model is diversified across interest income from lending (commercial loan rates as low as 18.75% p.a. in JMD and USD), credit card membership and transaction fees (annual fees J$4,000–14,000 across tiers), account maintenance and service fees, wire transfer fees (RTGS/SWIFT in multiple currencies), foreign exchange margins on cash and cheque transactions, and insurance/card-related service income (purchase protection, extended warranty). Distribution combines direct-to-consumer channels (branches, mini-branches, agents, digital self-serve) with enterprise field sales through dedicated VP-led Corporate Banking and Personal/Business Banking teams supported by relationship managers. Marketing spans organic social (Facebook, Twitter/X, Instagram, LinkedIn), the corporate website and Global Access Plus platform, a customer service centre (888-CALL-FGB), earned media/press releases, and community sponsorships. The bank is led by President & CEO Radcliffe Daley, with COO Terry-Ann Graver, and reports to a board chaired by Peter Moses; FGB operates as a wholly-owned subsidiary within the GraceKennedy Group, one of the Caribbean's largest conglomerates.

Name

First Global Bank

Legal name

First Global Bank Jamaica Limited

Website

https://firstglobal-bank.com

Company type

Private

Founded year

1970

Operating status

Operating

Headcount range

101–250 employees

Short description

First Global Bank Jamaica Limited is a BOJ-regulated commercial bank serving personal, SME, and corporate customers across Jamaica via 8 branches, First Global MoneyLink mini-branches, banking agents, and the Global Access Plus digital platform; it is a wholly-owned subsidiary of GraceKennedy Limited.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

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

SIC

National Commercial Banks (6021)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

akta.pro secondary industries

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI), Digital Banking & Neobank Platforms (BPAMAFAD)

Keywords

• Retail banking services
• Commercial lending
• Corporate banking
• Digital banking platform
• Foreign exchange services

Headquarters

HQ city

Kingston

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: Interest earned on personal loans, mortgages, business loans, and commercial lending facilities including structured financing, lines of credit, and commercial loans. Rates as low as 18.75% per annum for commercial loans.
2. Credit Card Fees and Charges: Annual membership fees for credit cards (J$4,000 Classic, J$7,350 Gold, J$14,000 Platinum Plus), transaction fees, and interchange income from card payments
3. Account Fees and Charges: Monthly maintenance fees, minimum balance fees, and various account service charges across personal, business, and corporate accounts
4. Wire Transfer Fees: Fees for local and international wire transfers, including RTGS and SWIFT-based transactions in multiple currencies (JMD, USD, CAD, GBP, EUR)
5. Foreign Exchange Services: Revenue from currency exchange margins on buy/sell rates for USD, CAD, GBP, EUR and other foreign currencies
6. Insurance and Card-Related Services: Income from bundled insurance benefits, price protection, purchase protection, extended warranty services on credit cards

Pricing tiers

Go-to-market motion2 records

Distribution channels8 records

Marketing channels8 records

Core offering

First Global Bank is a Jamaican commercial bank that provides personal, SME/business, and corporate banking products including savings and chequing accounts, mortgages, personal and commercial loans, credit cards, wire transfers, foreign exchange, letters of credit, and banker's guarantees. Services are delivered through 8 full-service branches, First Global MoneyLink mini-branches, banking agents, the Global Access Plus online and mobile banking platform, and a customer service centre across Jamaica.

Product overview

First Global Bank offers a comprehensive commercial banking platform with a unified portfolio of personal, business, and corporate banking products. The core platform is the Global Access Plus online and mobile banking system, complemented by a full suite of deposit accounts (savings, chequing, foreign currency), credit products (credit cards, loans, mortgages), and business financing services (structured financing, letters of credit, banker's guarantees). Personal banking includes Starter, Standard, and Partna savings accounts; Interest Chequing and Foreign Currency accounts; residential mortgages with NHT joint financing; and VISA credit cards ranging from Classic to Platinum Plus tiers with rewards programs. Corporate banking encompasses business accounts for early-stage companies, commercial loans, lines of credit, and international trade instruments. Additional services include wire transfers, foreign exchange, reclaimed asset sales, and an online loan calculator. All products are accessible through the Global Access Plus platform and the bank's 8 branches across Jamaica.

Differentiator

Problem solved

Functional benefit

Brands

• Global Access Plus: Online and mobile banking platform providing digital banking services for personal and business customers
• Global Cares
• First Global Money-Link
• FGB My Rewards

Products and services

• FGB Starter Account Basic savings account designed for financially excluded individuals including informally employed, unemployed, students, and benefit recipients, opening with a minimum deposit of JMD $2,500.
• FGB Standard Savings Account Savings account helping customers save toward specific financial goals with competitive interest rates, automatic transfers, and loan access up to two times the amount saved.
• FGB Partna Plan Short-term savings plan allowing weekly, fortnightly, or monthly deposits with no withdrawals permitted prior to maturity; interest calculated daily and paid monthly.
• FGB Global Kids & Teens Savings Account Goal-based savings account for children under 18 years old to learn financial discipline while saving toward specific goals.
• FGB Interest Chequing Account Chequing account offering cheque-writing convenience while earning interest on balances, with online access and a VISA Debit Card.
• FGB Foreign Currency Chequing Account US Dollar chequing account providing the flexibility to make local payments in foreign currency, with a minimum balance of US$500.
• FGB Residential Home Mortgage Home mortgage facility with NHT Joint Financing available, offering borrowings up to J$25 Million or 97% of purchase price with up to 30 years repayment.
• FGB VISA Classic Credit Card Entry-level credit card with competitive interest rate, contactless payment, up to 55 days interest-free credit, and 1 point per USD spent; minimum income requirement J$600,000 annually.
• FGB Affinity VISA Credit Card Co-branded credit card supporting alumni associations, with 1% of purchases donated to selected schools; available for 11 Jamaican schools.
• FGB VISA Gold Card Premium credit card offering superior purchasing power with Price Protection up to USD 400, Purchase Protection up to USD 1,000, and Extended Warranty up to USD 5,000.
• FGB VISA Platinum Card (USD) USD-denominated premium card with Priority Pass airport lounge membership, Price Protection up to USD 2,000, and VISA Luxury Hotel Collection access.
• FGB VISA Platinum Plus Credit Card Premium JMD credit card with comprehensive travel benefits including trip delay/cancellation coverage, purchase protection up to USD 10,000, and international emergency medical services up to USD 170,000.
• FGB Tax Business Credit Card Business credit card offering 0.5% cash back on all GOJ payments, up to USD 250,000 travel accident insurance, and auto rental insurance.
• GK100+ Business Credit Card Business credit card with 0.5% cash back on all purchases, USD 250,000 travel accident insurance, and convenient expense tracking.
• FGB VISA Debit Card Debit card accepted globally wherever VISA is accepted, allowing online purchases and ATM withdrawals directly from the bank account, with Chip and PIN security.
• Global Access Plus Online & Mobile Banking Online and mobile banking platform enabling customers to manage accounts, transfer funds, pay bills, block/unblock cards, open new accounts, and access expense management features via web and mobile apps.
• FGB Easy Start Business Account Business account for startups operational less than 24 months, opening with as low as J$1,000 and enabling global payment acceptance.
• FGB Early-Stage Financing Business financing for early-stage companies in technology, creative, fintech, sports, or entertainment industries operational less than 24 months, with access up to J$15M and up to 15 years repayment.
• FGB Structured Financing Business financing facility with expert relationship managers helping identify local and international loan funding sources for business growth capital.
• FGB Line of Credit Revolving credit facility attached to current accounts, providing instant access to funds when balances are exceeded at competitive interest rates.
• FGB Commercial Loans Credit facilities for working capital financing or equipment loans with flexible payment plans and rates as low as 18.75% per annum in JMD and USD.
• FGB Banker's Guarantees Written undertaking where FGB agrees to make payments on behalf of customers who fail to fulfill specified contract terms, enabling contract bidding and supplier relationships.
• FGB Letters of Credit Financial instrument bridging buyer and seller with bank neutrality, providing written commitment for international trade transactions.
• FGB Letters of Undertaking Service guaranteeing a customer's payment obligation to a third party in accordance with specified contract terms, facilitating debt management.
• Foreign Exchange Services Currency exchange services providing competitive rates for USD, CAD, GBP, and EUR with cash and cheque buy/sell options.
• Wire Transfer Services Electronic money transfer services for fast local and international transfers via RTGS and SWIFT networks supporting multiple currencies.
• Corporate Foreign Currency Chequing Account Corporate account denominated in US Dollars with a minimum balance and opening amount of US$500, supporting international business transactions.

Quantifiable outcome

• 100% improvement in literacy and numeracy rates of student participants in Global Cares flagship programme

Named customers3 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

Feature7 records

Scale indicators5 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• National Commercial Bank (Jamaica): Jamaica's largest commercial bank, offering personal, SME, and corporate banking, credit cards, mortgages, and digital channels. Directly competes with FGB across all segments in the Jamaican market, but at materially larger scale.
• Scotiabank Jamaica: Major Canadian-owned Jamaican commercial bank offering retail, SME, corporate, and investment banking services. Competes head-to-head with FGB on deposits, lending, FX, and digital banking, with a much larger international footprint.
• JMMB Group: Jamaican financial group with JMMB Bank offering savings, loans, investments, and FX. Overlaps with FGB on retail deposits, SME lending, and money services, and is a comparable mid-sized Jamaican banking competitor.
• FirstCaribbean International Bank (CIBC Caribbean): Caribbean-wide commercial bank (now operating under CIBC) offering retail, corporate, and wealth services across multiple Caribbean jurisdictions. Comparable to FGB's full-service commercial bank offering, with broader regional reach.
• JN Bank (Jamaica National Bank): Jamaica's largest mutual building society offering savings, loans, mortgages, and business banking. Directly competes with FGB on retail deposits and SME lending within Jamaica.
• Sagicor Bank Jamaica: Caribbean-headquartered bank and insurance group with Jamaican retail and commercial banking operations. Comparable to FGB in offering personal banking, SME lending, and corporate services across Jamaica.

Broad incumbents

• Citibank Jamaica: Jamaican operations of Citigroup focused on corporate, investment, and treasury services for multinational clients. Comparable to FGB's corporate banking and trade finance offerings, though from a global incumbent perspective.
• RBC Royal Bank (Jamaica): Subsidiary of Royal Bank of Canada providing retail and corporate banking in Jamaica. Comparable to FGB on core banking products, with materially broader international corporate banking capabilities as part of RBC.

Regional players

• Banco de Reservas (BanReservas): Dominican Republic's largest commercial bank offering retail, SME, corporate, and government banking. Comparable in Caribbean commercial banking profile but serves a different primary market than FGB.
• Victoria Mutual (VM) Group: Jamaican financial group encompassing building society, investment, and insurance services. Comparable to FGB's diversified personal and SME financial services offering within Jamaica.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/firstglobalbank
• Facebookfacebook.com/firstglobalbank
• LinkedInjm.linkedin.com/company/first-global-bank-limited
• Instagraminstagram.com/firstglobalbank

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

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 First Global Bank