RF Bank & Trust

What RF Bank & Trust does

RF Bank & Trust is a privately held Caribbean financial services firm headquartered in Nassau, The Bahamas, with regional operations in Barbados and the Cayman Islands. Originally founded in 1994 as Fidelity Bank & Trust International (FBTI), the firm operates under the holding company RF Holdings following a 2019 management buyout that fully separated it from Royal Bank of Canada. The company offers a full-service platform spanning retail and private banking, brokerage (stocks, bonds, margin lending), wealth management (mutual funds, private wealth, trust and estate planning), retirement solutions (personal pensions, multi-employer pensions), investment banking (equity and debt financing, M&A advisory, public and private placements), and private equity through its Strat Equity Fund. Its mutual fund shelf includes 12 funds denominated in BSD and USD covering fixed income, balanced, equity, alternative, and global mandates, with combined mutual fund AUM exceeding approximately BSD $910M and USD $124.6M.

The business operates on a relationship-led distribution model: physical offices with dedicated investment advisors across three jurisdictions (Bahamas, Barbados, Cayman Islands), supplemented by digital self-service via RF Online and a Pension Portal. Revenue is generated through multiple streams including asset-based mutual fund management fees (0.5%-2%), brokerage and trading commissions, investment advisory and wealth management fees, corporate banking services, investment banking advisory fees, and pension administration. Customer segments span individual investors (retail brokerage, retirement, education savings), high-net-worth individuals (Private Wealth, RF Black Card), and corporate/institutional clients (investment banking mandates, group pensions, corporate treasury). The firm is regulated by five separate Caribbean regulatory bodies and holds DIC deposit insurance coverage up to $50,000.

Over its 26-year history, RF has executed 80+ investment banking mandates (cumulative capital raised of $234B for clients across transactions including Commonwealth Brewery IPO, Nassau Airport Development Company, Cable Bahamas, University of The Bahamas, and Williams Renewable Energy) and grown AUA to over $2B by 2018. Recent strategic activity has focused on regulatory expansion (Forex dealer license 2023, ACH membership 2025, Cayman bank-trust-securities license 2021), product diversification (Strat Equity Fund, Preferred Property Fund), and geographic extension into the Cayman Islands via acquisition. The firm competes primarily on local market expertise, regulatory breadth, and first-mover positioning across multiple Caribbean financial product categories.

Name

RF Bank & Trust

Legal name

RF Bank & Trust (Bahamas) Limited

Website

https://rfgroup.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

101–250 employees

Short description

RF Bank & Trust is a privately held Caribbean financial services firm headquartered in The Bahamas, operating across Bahamas, Barbados, and Cayman Islands to provide wealth management, mutual funds, brokerage, investment banking, pensions, and private banking services to individual and corporate clients.

Ownership category

akta.pro rank

Product category

Wealth Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), Trusts, Estates, and Agency Accounts (525920), Pension Funds (525110), Depository Credit Intermediation (5221)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Corporate Trust Services (Trustee, Agent & Escrow Roles) (FSAEAKAB)

akta.pro secondary industries

Corporate & Institutional Trust Services (FSAAANAB), Money Markets & Short-Term Funding (T-Bills, CP, CDs) (FSACAEAG)

Keywords

• Wealth management services
• Investment banking advisory
• Mutual fund management
• Trust and estate planning
• Private banking services

Headquarters

HQ city

Nassau

HQ country

Bahamas

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Mutual Fund Management Fees: RF Bank & Trust earns management fees from managing a wide range of BSD and USD mutual funds including fixed income, balanced, equity, and alternative investment strategies. Fees are charged as a percentage of assets under management (e.g., 1.00% for Prime Income Fund, 1.5% for Secure Balanced Fund, 2% for Targeted Equity Fund).
2. Brokerage and Trading Commissions: Revenue generated from trading securities on behalf of clients, including stocks listed on the Bahamas International Securities Exchange, government bonds, and other investment products. Commission rates are competitively priced with low annual fees for brokerage accounts.
3. Investment Advisory and Wealth Management Fees: Fees from providing personalized investment advisory services for private wealth clients, including portfolio management, estate planning, and comprehensive wealth management solutions.
4. Investment Banking Advisory: Fees from corporate finance services including equity and debt financing, business valuation, public offerings and private placements, transaction structuring, mergers and acquisitions, and privatization advisory.
5. Corporate Banking Services: Revenue from business banking services including corporate brokerage accounts, working capital facilities, cross-border payments, and term deposits.
6. Pension Plan Administration: Fees from administering group pension plans (RF Multi-Employer Pension Plan and standalone plans), Personal Pension Plans, and Personal Retirement Accounts.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels8 records

Core offering

RF Bank & Trust is a Caribbean wealth management and investment banking firm offering retail and institutional clients a comprehensive suite of financial products including brokerage accounts, mutual funds (BSD and USD), private wealth management with the RF Black Card, retirement and education savings plans, private equity, global investments, trust and estate services, full banking services, group pensions, and investment banking advisory. The firm operates across The Bahamas, Barbados, and Cayman Islands with multi-jurisdictional regulatory licensing and a relationship-driven advisory distribution model supplemented by the RF Online and Pension Portal digital platforms.

Product overview

RF Bank & Trust is a Caribbean investment bank and wealth management firm offering a comprehensive platform of financial products and services. The core offerings include securities trading (Stocks & Bonds) on the Bahamas International Securities Exchange, mutual funds in both BSD and USD denominations (Prime Income Fund, Prime Income PLUS Fund, Targeted Equity Fund, Secure Balanced Fund, International Equities Sub Fund, Alternative Strategies Fund, High Yield Income Fund, Targeted Income Fund, International Opportunities Fund, Global Balanced Fund, Hedge Strategies Fund), private wealth management with the exclusive RF Black Card, retirement solutions (Personal Pension Plan, Personal Provident Plan, Personal Retirement Account), Education Investment Accounts, private equity through the RF Strat Equity Fund, global investments, and full banking services. For businesses, the firm provides Investment Management Accounts, group pensions (Multi-Employer and standalone), investment banking and advisory services, corporate brokerage accounts, and global investments for business. The platform also includes financial planning tools including retirement, pension, dividend, college savings, compound interest, and margin loan calculators. All services are accessible through RF Online and the Pension Portal, with advisors across The Bahamas, Barbados, and Cayman Islands.

Differentiator

Problem solved

Functional benefit

Brands

• RF Black Card: Exclusive invitation-only MasterCard credit card accepted worldwide with local discounts and international benefits including access to over 1000 luxury hotels and resorts and 850 VIP airport lounges.

Quantifiable outcome

• BSD $501.9M assets under management in Prime Income Fund alone
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• World-leading Investment Management FirmscoreStrategic or Co-development PartnerRF Bank & Trust has partnered with globally respected investment management firms to provide clients access to strategies across global equities, fixed income, and multi-asset portfolios.
• Bahamas International Securities Exchange (BISX)coreStrategic or Co-development PartnerRF Bank & Trust provides access to trading securities listed on the Bahamas International Securities Exchange, acting as a market maker and facilitating public company listings.

Scale indicators15 records

Recent moves12 records

Expansion highlights6 records

Regional players

• Commonwealth Bank (Bahamas): Publicly listed Bahamian bank focused on consumer lending and deposits, competing with RF for Bahamian retail banking clients.
• Republic Financial Holdings: Trinidad-headquartered banking and financial group operating across the Caribbean, overlapping in banking, investment, and corporate advisory services.
• Bank of N.T. Butterfield & Son: Bermuda- and Cayman-based bank offering deposit, trust, wealth management, and investment services. Highly comparable in its combined banking-plus-trust-plus-wealth model within offshore Caribbean/Atlantic jurisdictions.
• Sagicor Financial Company: Pan-Caribbean financial services group offering wealth management, investments, pensions, and banking. Comparable in its diversified Caribbean wealth and investment product suite.
• Cayman National Corporation: Cayman-based group providing banking, trust, fund administration, and investment management. Directly overlaps with RF's integrated bank-and-trust wealth offering in a shared Caribbean jurisdiction.
• Colonial Group International / CG Coralisle: Bermuda/Caribbean financial and insurance group providing investment, pension, and wealth-related services, overlapping with RF's pension and asset management lines.

Direct peers

• Bank of The Bahamas: Bahamas-domiciled bank serving retail and corporate clients with banking and investment services, competing directly with RF in its home market.
• Fidelity Bank (Bahamas): Bahamas-based bank and financial services firm (historically linked to RF's Fidelity origins) offering banking and investment products to the same Bahamian client base.

Broad incumbents

• CIBC Caribbean (FirstCaribbean): Large regional bank offering retail, corporate, and wealth services across the Caribbean including Bahamas, Barbados, and Cayman; a broad incumbent competing in RF's exact territories.
• Scotiabank Caribbean: Global bank with extensive Caribbean retail, commercial, and wealth operations, competing across the same jurisdictions with far greater scale.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCAtHKdCg1TzP9QALUiPMgsQ
• Facebookfacebook.com/rfbanktrust
• LinkedInlinkedin.com/company/rfbankandtrust
• Instagraminstagram.com/rfbanktrust

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries2 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 RF Bank & Trust