A conversation with Jon Rudge, Commercial Director at Capital International Bank
Capital International Bank is a regulated bank headquartered in the Isle of Man, serving corporates, trusts and high net-worth individuals. The European recently caught up with Commercial Director Jon Rudge to explore the bank’s focus on dependable service, taking a pragmatic approach to risk, as well as the sustainability initiatives currently underway as part of “Conscious Capital”.
What were the key drivers behind Capital International Bank being incorporated?
Jon Rudge: In the modern economic landscape, access to a reliable banking provider is essential. Understanding the banking issues corporates typically face, such as slow application processes, poor client support and outdated technology, our goal is to provide corporates with a dependable banking service delivered by our team in the Isle of Man.
When we describe our service as dependable, we are referring mainly to two aspects of our proposition: the first is the platform itself which is secure, modern and easy to use. The second is the superior level of service offered, whereby clients can pick up the phone and speak to a member of our team to resolve an issue rather than waiting hours in a call queue or back and forth with a chatbot.
Why is pragmatic, risk-based decision-making important?
JR: We have seen that many other financial institutions have reduced their appetite for new business, often applying a rigid “checklist approach” to applicants. In order to solve this problem, we believe in applying our minds to ensure we reach the best possible outcome for a new applicant.
Through the experience of our senior management team, we have an intricate knowledge of the industries local to the Isle of Man as well as those with a significant presence in other international finance centres. Using this level of understanding of certain sectors and industries, we are able to assess each account application on a case-by-case basis.
As a result, we are able to make informed decisions which provide the applicant with a quick “yes” or “no” as to whether their application can progress to the next stage with a view to becoming their sustainable banking partner for years to come.
What initiatives are the bank undertaking to align with the goals of COP29?
JR: Being based on the Isle of Man, we believe that the financial services sector, which accounts for 32% of the island’s economy, has a huge responsibility to drive positive change.
Capital International Group, which is the parent company of Capital International Bank, first published its ESG Purpose and Mission Statement in 2020, which sets out our aim to become carbon neutral and net positive in terms of our community contributions by the end of 2025.
Is this where “Conscious Capital” comes into play?
JR: That’s right.Everything the Group does in this regard falls under “Conscious Capital”, an area of our business dedicated specifically to our sustainability initiatives.
The Group is incredibly active in this regard, part of which is Capital International Bank’s commitment to planting two trees for every account we open.
For us it’s not about writing a cheque and watching our forests grow, instead, we bring our people to the sites where they can engage in the projects and plant the trees themselves.
Further information
www.capital-iom.com/bank
The views, thoughts and opinions expressed within this article are those of the author, and not those of Capital International Group Limited (Group) and/or any of its subsidiary companies and as such are neither given nor endorsed by the Group or any company within the Group. Opinions constitute views as at the date of issue thereof and are subject to change.
*Whilst a fund credit quality rating methodology has been used by S&P Global Ratings, the EFA is not itself a fund, but rather a pooled account supporting the financial products known as fiduciary deposits. Click here for more info.
**Latest time for the transfer of funds from EFA to CTA is 14:00 with authorisation by 14:15. Latest time for transfer of funds from CTA to EFA is 14:30 with authorisation by 14:45. Outward payments cannot be made from the EFA. In order to access the EFA, a Capital Call Account (CCA) and Capital Treasury Account (CTA) must first be opened. CCA and CTA balances are held on the balance sheet of Capital International Bank Limited and assumption of risk is to Capital International Bank Limited. EFA balances are held with third party recipient bank(s) and assumption of risk in relation to EFA balances is to the recipient bank(s). Terms and conditions and fees related to the CCA, CTA and EFA are set out on the website www.capital-iom.com/bank. Cut-off times correct as at 17/06/2025 and are subject to change.
***Gross interest earned on GBP Excess Fiduciary Account (EFA) balances is currently 2.85% per annum, USD EFA is currently 2.60% and EUR EFA is currently 0.75% per annum. The gross interest will be calculated on the balance held in your EFA at the end of each day (subject to value date having been achieved in light of cut off times set out below) and will be credited to your EFA on a quarterly basis. Gross interest rates are subject to change from time to time. There is a GBP commission fee of 0.85% per annum, a USD commission fee of 0.60% per annum and EUR commission fee of 0.375% per annum charged by Capital International Bank Limited, resulting in a net return of 2.00% for GBP EFA, 2.00% for USD EFA and 0.375% for EUR EFA. The commission will be calculated on the balance held in your EFA at the end of each day and will be charged to your EFA at the end of each quarter when the interest is credited. The Annual Equivalent Rate (AER) net return on GBP is 2.015%, USD is 2.015% and EUR is 0.376%. The AER illustrates what the net return would be if interest (net of commission) is paid quarterly and compounded each quarter. Rates correct as at 17/06/2025 and are subject to change.
Capital International Bank Limited is a wholly owned subsidiary of Capital International Group Limited a privately owned financial services group based in the Isle of Man. Capital International Bank Limited is licensed by the Isle of Man Financial Services Authority and operates as a non-retail, restricted deposit taker under a Class 1 (2) licence. Deposits are not covered by the Isle of Man Depositors’ Compensation Scheme and terms and conditions apply. Capital International Bank and Capital International are trading names of Capital International Bank Limited. Capital International Bank Limited is also licensed by the South African Reserve Bank Prudential Authority to conduct the business of a Representative Office in South Africa. Full company details can be viewed here.
