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Clarien Bank To Increase Base Lending Rates

Clarien Bank To Increase Base Lending Rates

Effective January 16, 2017, Clarien Bank Limited will be increasing its BMD$ personal base lending rate by 25 basis points [0.25%] from 3.75% to 4.00% and its BMD$ commercial base lending rate by 25 basis points [0.25%] from 4.00% to 4.25%. “These increases are as a result of changes to the US Federal Reserve Rates in 2016,” a spokesperson... Read more of this article

Bank Of Butterfield: ‘This Statement Is False’

Bank Of Butterfield: ‘This Statement Is False’

In response to incorrect information circulating on social media, the Bank of Butterfield moved to assure customers that “this statement is false and that it is safe to conduct banking transactions using Butterfield ATMs.”A Bank spokesperson said, “There is a message being circulated in our community over social media channels indicating... Read more of this article

HSBC Bermuda Donates To Salvation Army

HSBC Bermuda Donates To Salvation Army

The spirit of Christmas was alive and well last week when HSBC Bermuda made their annual Christmas donation to The Salvation Army at HSBC’s offices. Accepting the donation was The Salvation Army’s Major Pitman. Representing HSBC were the Chairman of the Bank’s Board of Directors – Anthony Joaquin, Chief Executive Officer – Mark Watkinson... Read more of this article

No Change: HSBC Bermuda Base Lending Rate

No Change: HSBC Bermuda Base Lending Rate

Following the 25 basis point increase announced yesterday, HSBC Bermuda said they will “leave its base lending rates for customers unchanged” at this time.The company said, “HSBC Bermuda assesses a range of macroeconomic and other factors in determining the bank’s base lending rates. The US Federal Funds Rate is an important one... Read more of this article

Bank Of Butterfield Adjusts Loan Rates

Bank Of Butterfield Adjusts Loan Rates

The Bank of Butterfield announced that “in step with today’s 25 basis point increase in the US Federal Funds Rate, the Bank has adjusted its Bermuda Dollar Base Rates on Bermuda Dollar loans.” “The Bermuda Dollar Base Rate for residential mortgages and consumer loans will increase from 3.75% to 4.00%, Butterfield’s first rate increase... Read more of this article

Photos: Clarien Staff Assist Meals On Wheels

Photos: Clarien Staff Assist Meals On Wheels

As part of its GiveBack programme, Clarien Bank is working to assist Meals on Wheels during the holiday season, with members of the bank’s staff helping with meal preparation. Clarien Bank Limited recently launched its 10th annual Holiday GiveBack Programme and encouraged its employees, customers and the community at large to celebrate the season... Read more of this article

Clarien Bank Launches GiveBack Programme

Clarien Bank Launches GiveBack Programme

Clarien Bank Limited has launched its 10th annual Holiday GiveBack Programme and encouraged its employees, customers and the community at large to celebrate the season of giving by making donations that will again benefit Meals on Wheels. The Clarien Foundation will match, to a capped amount, all donations made between November 21 and December 31 through... Read more of this article

Butterfield To Effect Mandatory Redemption

Butterfield To Effect Mandatory Redemption

The Bank of N.T. Butterfield & Son Limited today [Nov 10] announced that it will effect a mandatory redemption of its 8.00% Non-Cumulative Perpetual Limited Voting Preference Shares par value $0.01 per share on December 15, 2016. A spokesperson said, “The Board of Directors determined that it is an appropriate time to redeem the Preference... Read more of this article

Bank Of Butterfield 2016 Q3 Net Income: $24M

Bank Of Butterfield 2016 Q3 Net Income: $24M

The Bank of Butterfield & Son today announced net income for the third quarter ended 30 September 2016 of $24.0 million, a decrease of $4.8 million compared to $28.8 million earned in the same quarter a year ago, resulting in earnings per share of $0.41 on a fully diluted basis. During the quarter, the Bank made important strategic progress, completing... Read more of this article

HSBC To Invest $3M In Harbourview & Compass

HSBC To Invest $3M In Harbourview & Compass

Saying that they have a “very successful business in Bermuda,” HSBC Bermuda said they “will be investing in the region of USD3.0 million in the Harbourview Centre and Compass Point properties.” Mark Watkinson, HSBC Bermuda’s CEO, said: “We have a very successful business in Bermuda. This can be attributed to the strong... Read more of this article

BCB Receives Deutsche Bank Payments Award

BCB Receives Deutsche Bank Payments Award

Bermuda Commercial Bank Limited [BCB], has received the 2015 Deutsche Bank payments award for the “exceptional quality of payment messages” to Deutsche Bank’s Global Transaction Banking Operations unit for payments in euros during the 2015 fiscal year. A spokesperson said, “Last year, BCB processed approximately $30 billion in total payments... Read more of this article

Bank Of Butterfield’s Outlook Is Revised To Stable

Bank Of Butterfield’s Outlook Is Revised To Stable

Moody’s affirmed the ratings of Bank of Butterfield and changed the outlook to stable from negative, saying that the outlook change was “driven by Butterfield’s stronger capitalization following its new common share offering” and that “Bermuda’s recovering economy also supports a stable outlook.”In affirming... Read more of this article

Karl: Clarien Bank Will Closed On Saturday

Karl: Clarien Bank Will Closed On Saturday

Clarien Bank Limited will be closed Saturday, September 24 in anticipation of the impending approach and aftermath of Tropical Depression Karl. “Although access to branch lobbies will be unavailable, customers may access the ATM area of the 19 Reid branch by swiping any Clarien or non-Clarien debit or credit card,” the Bank said. “However,... Read more of this article