Tag: Bermuda banks

Butterfield Bank 2014 Q2 Net Income: $27.5M

Butterfield Bank 2014 Q2 Net Income: $27.5M

The Bank of N.T. Butterfield & Son Limited today announced net income for the second quarter ended 30 June 2014 of $27.5 million [$0.04 per share on a fully diluted basis] compared to $32.9 million [$0.05 per share on a fully diluted basis] in the same quarter a year ago. Core earnings for the second quarter were $26.0 million, an improvement of... Read more of this article

Dominic Tessitore Wins BCB Bank Scholarship

Dominic Tessitore Wins BCB Bank Scholarship

Bermuda Commercial Bank announced that they have awarded a Gold level scholarship to an exemplary student in our community. Dominic Tessitore, a 2014 graduate of the Berkeley Institute, was presented his scholarship on Tuesday, July 22nd by the sponsorship committee members Angelique Dowling and Stephen Outerbridge. [Left to right] Stephen Outerbridge,... Read more of this article

Full Report: KPMG On Bermuda Banking Sector

Full Report: KPMG On Bermuda Banking Sector

The 32-page KPMG in Bermuda Banking Survey was recently released, with the publication the culmination of a series of roundtable discussions between leaders and key players in Bermuda’s banking industry, including Bermuda Regulators, Board Chairmen & Directors and the Chief Executive Officers of each of the banks – as well as the results of... Read more of this article

Co-CEO Zoran Fotak On Leave From Clarien

Co-CEO Zoran Fotak On Leave From Clarien

Clarien Bank’s Co-Chief Executive Officer Zoran Fotak will be on leave until October and his official last day with Clarien Bank will be October 18, 2014, the bank confirmed today. Further details surrounding Mr. Fotak’s leave are unclear, with the bank issuing a short statement saying, “Clarien Bank Limited advised today that Zoran... Read more of this article

KPMG: Banks Remain Profitable For Third Year

KPMG: Banks Remain Profitable For Third Year

The Bermuda banking sector has remained profitable for a third consecutive year, and Bermuda’s banks continue to be focused on ensuring that their business models evolve to ensure relevance in the face of changing needs of its customers, its regulators, and its shareholders and other stakeholders, according to KPMG in Bermuda’s 2014 Banking Survey. The... Read more of this article

Collier Resigns As BCB Bank Chairman/Director

Collier Resigns As BCB Bank Chairman/Director

Bermuda Commercial Bank Limited today announced that J. Michael Collier has retired as a Director and Chairman of the Board of the Bank. Mr. Collier, a career banker has served on the BCB Board as a Director and Chairman for four years. He was formerly President and CEO of The Bank of N.T Butterfield & Son until he retired in 1996 after 33 years... Read more of this article

Butterfield Bank CEO On FATCA Implementation

Butterfield Bank CEO On FATCA Implementation

The Bank of N.T. Butterfield & Son Limited Chairman & CEO  Brendan McDonagh commented on the implementation of the Foreign Account Tax Compliance Act [FATCA] in Bermuda and the Cayman Islands. FACTA imposes due diligence, information reporting and control obligations on non-US financial institutions for certain US persons who maintain relationships... Read more of this article

Clarien: Preferred Union Members CD Rates

Clarien: Preferred Union Members CD Rates

Clarien Bank recently confirmed engagement in significant dialogue with representatives of the People’s Movement and its “commitment to continue to provide a broad range of high quality products & services to members of the community.” Further to that discussion, Clarien said they are “offering Union members a premium increase... Read more of this article

BCB’s 6 Month Consolidated Net Income: $7.9M

BCB’s 6 Month Consolidated Net Income: $7.9M

Bermuda Commercial Bank Limited announced its results for the six month period ended March 31, 2014, with a consolidated net income of $7.9 million, as compared to $5.1 million in 2013. Commenting on the financial results, J. Michael Collier, Chairman of BCB stated: “The Bank continues to maintain its commitment to a strong balance sheet and capital... Read more of this article

Government Clarifies: Pension Payment Delay

Government Clarifies: Pension Payment Delay

Citing “significant feedback” received regarding delays to the June Social Insurance HSBC online direct deposit pension payments,” the Department of Social Insurance provided an additional statement. The Department said that the affected HSBC pension payments were direct deposits only, and payments were successfully made for those... Read more of this article


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