Sun Bank

What Sun Bank does

Sun Bank International Ltd (SBIL) is a private international bank incorporated in 2022 in St. Kitts and Nevis and regulated by the Financial Services Regulatory Commission (FSRC) of that jurisdiction (Registration Number 32/2022; LEI: 894500ULD37DEY9EA495). The bank serves international businesses, high-net-worth individuals, and experienced investors through three core product lines — a Multi-Currency Transactional Banking service that holds 25+ currencies in a single account, a Global Business Account oriented to cross-border corporate operations, and an Investment Platform that provides access to stocks, bonds, and mutual funds via broker partners. International Payment Cards have been announced as forthcoming. The bank explicitly caps its client base to deliver personalized service via dedicated Relationship Managers, covers transfers from 200+ countries through SEPA and SWIFT, supports client communication in 8+ languages, and maintains a 100%-liquidity, no-lending-against-client-assets, no-cross-currency-positions posture — explicitly excluding digital assets and other high-risk sectors.

The technology stack centers on a 24/7 self-serve online banking platform (banking.sunbank.kn), a brokerage portal (brokerage.sunbank.kn), and a corporate website that handles online applications. Security relies on Google Authenticator-based 2FA and segregated Money Market Accounts held off-balance sheet. Trade-finance services (escrow at 1%, letters of credit at 0.95% issuance/confirmation, plus advising, amendment, examination, and negotiation fees) round out the product set. The firm is deliberately lean: headcount is stated at 1–10 employees, with senior leadership only recently stabilized — CEO Ivaylo Markov was appointed November 13, 2024, and Operations Manager Nichole Lawrence on January 30, 2025, both bringing combined 50+ years of banking and compliance experience.

Revenue is generated primarily through one-time account opening fees ($2,500 standard; higher for expedited/complex), transaction and wire fees (incoming wires 0.10% with a $95 floor; outgoing 0.60% with a $145 floor), forex spreads (0.90% with a $30 floor), term-deposit interest costs (USD savings up to 3.00% p.a. on 2-year terms, minimum $100,000), and trade-service fees. Go-to-market is hybrid: digital self-serve at the top of the funnel combined with direct, Relationship-Manager-led conversion at the bottom, supported by remote account opening with optional in-person verification and international travel for client meetings.

Name

Sun Bank

Legal name

Sun Bank International Ltd

Website

https://sunbank.kn

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

1–10 employees

Short description

Sun Bank International Ltd is a private international bank in St. Kitts and Nevis (FSRC-regulated) providing multi-currency accounts, SEPA/SWIFT international transfers in 25+ currencies, and broker-partner investment platform access for individuals, international businesses, and experienced investors across 200+ countries.

Ownership category

akta.pro rank

Product category

International Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Cross-Border & Multi-Currency Gateway Services (FSAMACAI)

akta.pro secondary industries

Cross-Border A2A & Bank Transfer Networks (FSAMAIAF), Cross-Border Card-Based Transfers & Multi-Currency Cards (FSAGAKAE), Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB)

Keywords

• International banking services
• Multi-currency accounts
• Cross-border wire transfers
• Global business accounts
• Investment platform brokerage

Headquarters

HQ city

Gingerland

HQ country

St. Kitts & Nevis

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Account Fees: Account opening fees (Standard $2,500, Expedited and Complex structures subject to agreement), account closure fees ($100), account maintenance fees
2. Transfer and Transaction Fees: Incoming wire transfers (0.10% with $95 minimum), outgoing wire transfers (0.60% with $145 minimum), international transfers processed via SEPA and SWIFT
3. Foreign Exchange Services: Forex transactions charged at 0.90% with $30 minimum; competitive exchange rates; compliance surcharge may apply for complex transactions
4. Term Deposits and Savings Interest: Interest-bearing accounts: USD savings 1-year at 2.00% p.a., 2-year at 3.00% p.a. (minimum $100,000); Money Market Accounts off-balance sheet
5. Trade Services: Escrow account service (1%), Letter of Credit issuance (0.95%), confirmation fees, amendment fees ($150), advising fees ($250), document examination ($200), negotiation/payment (1.50%), SWIFT charges ($120)
6. Investment Platform: Access to investment products through broker partners including stocks, bonds, mutual funds; advanced trading tools and real-time market data

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Sun Bank provides cross-border banking services through Multi-Currency Transactional Banking (25+ currencies in a single account), a Global Business Account for international businesses, and an Investment Platform offering access to stocks, bonds, and mutual funds via broker partners. Core capabilities include SEPA and SWIFT international transfers, online account opening, dedicated Relationship Managers, and 24/7 online banking with real-time transaction alerts.

Product overview

Sun Bank International Ltd is an international bank providing comprehensive banking services through a unified platform architecture. The core product portfolio consists of: Investment Platform (access to stocks, bonds, mutual funds via broker partners), Multi-Currency Transactional Banking (hold/manage 25+ currencies in a single account), Global Business Account (international business banking with wire transfers and currency conversion), and International Payment Cards (forthcoming). These services are supported by an Online Banking Platform offering 24/7 access, real-time alerts, and multi-recipient transfer management. The bank also offers trade-related services (escrow, letters of credit, guarantees) and term deposit products. All services operate under unified compliance standards regulated by FSRC of St. Kitts and Nevis.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Account opening completed within 5 days
• +3 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Scale indicators7 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Butterfield: Established Caribbean and offshore private/corporate bank with multi-currency accounts, wealth and trade services — a scaled incumbent competing for the same international client base.
• J. Safra Sarasin: Global private bank with strong multi-currency, FX and cross-border capabilities serving HNW and corporate clients — a credible incumbent comparable to Sun Bank's target segments.

Direct peers

• Caye International Bank: Belize-based private offshore bank offering multi-currency accounts, international wires and wealth services to international clients — directly comparable niche and product set to Sun Bank.
• Loyal Bank: Caribbean-headquartered digital-first international bank offering multi-currency accounts and cross-border transfers for individuals and businesses — direct head-to-head in the same niche.
• Choice Bank: Belize-based offshore bank focused on multi-currency accounts, international payments and corporate services for global clients — comparable offshore cross-border banking model.
• Bank of Nevis International: Domestic and offshore bank operating in the same Nevis jurisdiction as Sun Bank, with similar international corporate and personal banking offerings — same regulatory home and overlapping client pool.
• CIM Banque: Swiss private bank offering multi-currency accounts and personalized wealth services to international clients — same boutique offshore/private model Sun Bank targets.

Regional players

• Aperture (Nevis): Nevis-registered financial services provider serving international corporate and HNW clients with banking-adjacent solutions — same jurisdiction and overlapping clientele.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks7 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/sun-bank-international
• Facebookfacebook.com/SunBankInternational

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 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 Sun Bank