Tag: Bermuda banks

Moody’s Downgrades Bank Of Butterfield

Shortly after Moody’s announced they downgraded Bermuda’s rating to Aa3 and changed the outlook to negative earlier today [May 16], they confirmed they downgraded the ratings of the Bank of N.T. Butterfield & Son Limited. The rating outlook is stable. A statement from the ratings agency said, “The downgrade reflects Butterfield’s... Read more of this article

Butterfield UK Bank’s New Deposit Account

London’s Butterfield Private Bank — part of the Bermuda-headquartered Butterfield Group — has launched a six month, fixed-term deposit account designed for high and ultra high net worth individuals. The Butterfield 25 Deposit offers competitive interest rates on a tiered schedule, based on the level of funds deposited. Clients will... Read more of this article

Butterfield Bank Share Repurchases

In a filing with the Bermuda Stock Exchange, the Bank of N.T. Butterfield & Son Limited announced that during the month of April 2013, the Bank purchased for Treasury 1,080,774 Common Shares at an average cost of $1.40 per share. No 8% preferred shares were bought in April for the Buy Back Program.Related PostsBank Of Butterfield Repurchase... Read more of this article

Minister Richards Appears On UK’s Sky News

Yesterday [May 2] Minister of Finance Bob Richards appeared on Sky News to discuss Bermuda’s decision to negotiate and sign a FATCA Intergovernmental Agreement [IGA] Model 2 with the USA, the UK, and the G5 European Union countries once the G5 European Union Multilateral FATCA is established. This agreement will essentially result in financial institutions... Read more of this article

Butterfield Bank Reports Earnings Of $15.3M

The Bank of N.T. Butterfield & Son Limited announced core earnings for the first quarter ended 31 March 2013 of $15.3 million [$0.02 per Share on a fully diluted basis], compared to $14.6 million a year ago. Net income for the quarter was $13.3 million, including non-core redundancy and early retirement costs of $2.0 million, compared to net... Read more of this article

HSBC Introduce New Security For Online Banking

HSBC Bermuda is introducing a new security device to give Personal Internet Banking customers an extra layer of protection from fraudsters. The security device creates a unique security code every time the customer logs in to Personal Internet Banking. If you received a letter from HSBC Bermuda notifying you that a security device is coming, you will... Read more of this article

Matthew Elderfield To Step Down From Irish Role

Former Bermuda Monetary Authority [BMA] CEO Matthew Elderfield — who moved to Ireland in 2010 to help that country rebuild its financial regulatory functions and restore its international reputation following a series of high-profile scandals — has announced he is stepping down to pursue other interests in the UK. In a statement today [Apr.8],... Read more of this article

Butterfield Renews Share Buy-Back Programme

The Bank of N.T. Butterfield & Son Limited has renewed its Buy-back Programme for Common Shares. Butterfield introduced the Share Buy-back Programme in May 2012 and expanded it in December to allow for the repurchase of up to 10 million Common Shares. As at 31 December 2012, Butterfield had repurchased 7.3 million Common Shares under the Programme. With... Read more of this article

Enstar Completes Purchase Of HSBC Insurers

Bermuda-based Enstar Group Limited announced today [Apr.1] that one of Enstar’s wholly-owned subsidiaries completed the previously announced acquisition from Household Insurance Group Holding Company of HSBC Insurance Company of Delaware and Household Life Insurance Company of Delaware, as well as its three subsidiary insurers, on March 31, 2013.... Read more of this article

Sun. Morning: Butterfield ATMs To Be Unavailable

The Bank of Butterfield ATMs will be unavailable from 1:00 a.m. to 8:00 a.m. on Sunday, 31 March 2013 due to scheduled maintenance. A spokesperson said the Bank apoligises for any inconvenience.Related PostsBank Of Butterfield Repurchase Shares Bank’s Executive Chairman Designate Fitch Affirms Butterfield Bank’s Ratings Smatt Appointed... Read more of this article