Hashtag: #BermudaBanks

Butterfield Receives Captive Services Award

Butterfield Receives Captive Services Award

The Bank of N.T. Butterfield & Son Limited has received the award for best Collateral Service Provider – Letters of Credit from Captive Review in its 2016 US Captive Services Awards. The US Captive Services Awards annually recognise excellence and innovation in the provision of services to captive insurers. In recognising Butterfield for its... Read more of this article

Butterfield July 2016 Treasury Shares Buy Back

Butterfield July 2016 Treasury Shares Buy Back

In a filing with the Bermuda Stock Exchange, the Bank of N.T. Butterfield & Son Limited announced that during the month of July 2016, the Bank purchased for Treasury 81,835 Common Shares at an average price of $1.60 per share. In addition, the Bank did not purchase for cancellation any Preference Shares. Related StoriesButterfield Bank... Read more of this article

Butterfield Bank Files For Proposed IPO In U.S.

Butterfield Bank Files For Proposed IPO In U.S.

In a filing with the Bermuda Stock Exchange, the Bank of Butterfield announced that it has “filed a Registration Statement on Form F-1 with the United States Securities and Exchange Commission [SEC] relating to the proposed initial public offering in the United States of the Bank’s ordinary voting shares.” The filing stated,”"The... Read more of this article

Butterfield Bank Reports Second Quarter Profit

Butterfield Bank Reports Second Quarter Profit

The Bank of N.T. Butterfield & Son Limited today announced core earnings for the second quarter ended 30 June 2016 of $32.1 million, an improvement of $4.3 million compared to $27.8 million earned in the same quarter a year ago. The core earnings per share increased $0.01 to $0.06 per share. The core return on average tangible common equity improved... Read more of this article

Butterfield’s Reid Street Banking Centre Closed

Butterfield’s Reid Street Banking Centre Closed

The Bank of N.T. Butterfield & Son Limited announced that its head office building and Reid Street Banking Centre in the City of Hamilton will be closed for the entire day today [July 21]. A spokesperson said, “The closure is due to restricted access to some sections of Reid and Front Streets resulting from a fire in the City earlier today.... Read more of this article

Fitch Affirms Bank Of Butterfield’s Viability Rating

Fitch Affirms Bank Of Butterfield’s Viability Rating

Fitch Ratings has affirmed Bank of N.T. Butterfield & Son Limited‘s [BNTB] viability rating [VR] at ‘bbb-’, and downgraded BNTB’s support-driven Long-Term Issuer Default Rating [IDR] to ‘BBB’ from ‘A-’. The Rating Outlook is Stable. A statement from the ratings agency said, “The downgrade of the... Read more of this article

Fitch Downgrades Bermuda Commercial Bank

Fitch Downgrades Bermuda Commercial Bank

Fitch Ratings has downgraded the Long- and Short-Term Issuer Default Ratings [IDRs] of Bermuda Commercial Bank [BCB] to ‘BB+/B’ from ‘BBB-/F3′. The Rating Outlook is Stable. A statement from the ratings agency said, “The downgrade of BCB’s IDRs and Viability Rating [VR] reflects the company’s increased risk profile... Read more of this article

New HSBC “Green Loan” Offers 100% Financing

New HSBC “Green Loan” Offers 100% Financing

HSBC Bermuda is offering a new Green Loan for homeowners to invest in solar energy systems, saying “customers will have access to 100% financing, our lowest available unsecured loan variable interest rate which is currently 6% and the longest available repayment term of up to 7 years.” The Bank said, “HSBC Bermuda’s new Green Loan... Read more of this article

Butterfield Completes Migration Of HSBC Trust

Butterfield Completes Migration Of HSBC Trust

Following its acquisition of Bermuda Trust Company Ltd. and the private banking investment management operations of HSBC Bank Bermuda Limited on 29 April 2016, The Bank of N.T. Butterfield & Son Limited today [May 4] announced that former HSBC Bermuda employees, their clients and accounts have successfully transitioned to Butterfield. Butterfield... Read more of this article

Bank Of Butterfield Reports First Quarter Profit

Bank Of Butterfield Reports First Quarter Profit

The Bank of N.T. Butterfield & Son Limited today announced core earnings for the first quarter ended 31 March 2016 of $36.0 million, an improvement of $7.0 million compared to $29.0 million earned in the same quarter a year ago. The core cash earnings per share increased $0.02 to $0.07 per share. The core cash return on average tangible common... Read more of this article

Clarien Reports Financials & $12.6M Investment

Clarien Reports Financials & $12.6M Investment

Clarien Bank Limited, a wholly-owned subsidiary of Clarien Group Limited [CGL] announced that it has continued to make significant investments in expanding its product offerings, technology, risk and operational infrastructures. Clarien said that “despite the continued economic challenges on-island” they “remained focused on its ongoing... Read more of this article

HSBC Bank Employees Continue To Give Back

HSBC Bank Employees Continue To Give Back

This week, HSBC Bank Bermuda employees made two separate donations of $4,000 each to the Order of St. John’s Ambulance Bermuda and Friends of Hospice. Kevin Oates – HSBC presenting to Veronica DeSilva of the Order of St. John’s Ambulance Bermuda. With Mr Oates are HSBC employees Teresa Watts, Jeanann Edwards, Gloria Aguiar and Kelly Weakley.The... Read more of this article

Butterfield Named “Best Bank” By Global Finance

Butterfield Named “Best Bank” By Global Finance

The Bank of N.T. Butterfield & Son Limited has been named Global Finance’s best bank in Bermuda in its 23rd annual selection of the world’s best banks in developed markets, the second year Butterfield has received this award. Global Finance is a US-based periodical providing analysis and articles on financial markets and financial institutions,... Read more of this article