Private banks have a long tradition in Switzerland, dating back to at least the revocation of the Edict of Nantes in 1685. Most private banks have now become incorporated companies, so the term is rarely true anymore. There are relatively few private banks remaining in the USA.
"Private banks" and "private banking" can also refer to non-government owned banks in general, in contrast to government-owned (or nationalized) banks, which were prevalent in communist, socialist and some social democratic ("liberal") states in the 20th century.
Our private banking services are offered to high net worth clients wishing to deposit $500,000 USD or more in a Private Bank account. Click here for more information...