Gibraltar Private Bank & Trust accelerated investments in regulatory compliance, increasing the likelihood it will endure its seventh consecutive annual loss this year. But the Coral Gables-based bank also has reignited loan growth and expects to regain profitability next year.
“Our budget for next year is that we will be profitable,” said Adolfo Henriques, chairman and chief executive officer of Gibraltar, an eight-branch boutique bank catering to wealthy individuals in such enclaves as Miami Beach, Key Largo’s Ocean Reef and Naples. “The wealth area is one of the areas in financial services that has continued to grow.”
