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Clarien Bank Increase Deposit & Savings Rates

Clarien Bank Increase Deposit & Savings Rates

Effective January 15, 2018, Clarien Bank Limited will be increasing its term deposit rates and adjusting its BMD$ base lending rate following the US Federal Reserve rate increase announced on December 13, 2017. Promotional Deposit Products “Clarien is introducing a series of attractive promotional deposit products to provide its client base and... Read more of this article

Bank Foundation Redefines Scholarships Criteria

Bank Foundation Redefines Scholarships Criteria

The Bank of Bermuda Foundation has redefined its eligibility criteria for its annual scholarships by placing a priority on financial need in addition to academic merit. A spokesperson said, “Following two years of strategic planning from 2014 to 2016, Bank of Bermuda Foundation identified the need to evolve from being a charitable to a philanthropic... Read more of this article

HSBC Staff Volunteer With Eliza DoLittle Society

HSBC Staff Volunteer With Eliza DoLittle Society

In partnership with The Eliza DoLittle Society [TEDS] and the Anglican Cathedral, HSBC’s workforce has rolled up their sleeves for a second year in an ongoing effort to address the issue of hunger in Bermuda. From September 2017 through to February 2018, the Bank continues its second bank-wide, team based volunteering programme comprising of over... Read more of this article

Clarien Volunteers Help At ‘Meals On Wheels’

Clarien Volunteers Help At ‘Meals On Wheels’

Clarien Bank volunteers last week joined the Meals on Wheels staff in preparing lunch for the community and raising awareness of the 11th annual Clarien Holiday GiveBack programme. Holiday GiveBack is a donation initiative which encourages Clarien employees, customers and the entire community to collaboratively provide assistance to Meals on Wheels... Read more of this article

Butterfield Adjust Rates Following Fed Increase

Butterfield Adjust Rates Following Fed Increase

The Bank of Butterfield announced that, in step with yesterday’s 25 basis point increase in the US Federal Funds Rate, the Bank is adjusting its interest rates on loans and fixed-term deposits. Deposit Rates The Bank said, “To provide customers with the opportunity  to earn higher returns on Bermuda dollar and US dollar deposits, rates paid... Read more of this article

Win A Fashion Experience With Shiona Turini

Win A Fashion Experience With Shiona Turini

Clarien Bank is giving the public the chance to win an exclusive New York Fashion Week getaway with fashion expert Shiona Turini, with the prize including airfare, ground transportation, and three nights accommodation, along with a personal shopping tour and styling by Ms. Turini. The promotion’s flyer says, “Clarien Bank gives you the chance... Read more of this article

BMA Hosts FSB Shadow Banking Workshop

BMA Hosts FSB Shadow Banking Workshop

The Bermuda Monetary Authority hosted the Financial Stability Board’s [FSB] Regional Consultative Group of the Americas’ [RCGA] Shadow Banking Workshop on October 25 and October 26 at the Hamilton Princess. A spokesperson said, “FSB, an international body monitoring and making recommendations about the global financial system, defines shadow... Read more of this article

Clarien Bank Hurricane Drive Raises Over $25K

Clarien Bank Hurricane Drive Raises Over $25K

Clarien Bank today [Oct 25] announced that over $25,000 has been raised by the organization to support hurricane recovery. Hurricanes Irma and Maria left destructive paths of devastation throughout the Caribbean, and the Clarien Bank hurricane donation drive was established to support Red Cross relief efforts in the region. Clarien Bank Chief Marketing... Read more of this article

Butterfield Reports Third Quarter 2017 Results

Butterfield Reports Third Quarter 2017 Results

The Bank of Butterfield announced financial results for the quarter ended 30 September 2017. Third quarter core net income was $40.7 million, or $0.73 per diluted common share, compared to $37.5 million, or $0.67 per diluted common share for the second quarter of 2017 and $33.4 million, or $0.60 per diluted common share, for the third quarter of 2016. The... Read more of this article

Butterfield To Acquire Global Trust Solutions

Butterfield To Acquire Global Trust Solutions

The Bank of Butterfield has entered into an agreement to acquire Deutsche Bank’s Global Trust Solutions [GTS] business, excluding its US operations; terms of the agreement were not disclosed. A spokesperson said, “Upon completion of the transaction, which is subject to regulatory approvals, Butterfield will take over the ongoing management... Read more of this article

Butterfield Bank: Senior Management Restructure

Butterfield Bank: Senior Management Restructure

The Bank of Butterfield today announced the following changes within its senior management team structure. Daniel Frumkin, previously Group Chief Risk Officer, has been appointed to the new role of Group Chief Operating Officer. In this capacity, he will be responsible for the Group’s client-facing businesses, jurisdictions, technology, and operations. Andrew... Read more of this article

Former CIA Executive Director Joins Bank Board

Former CIA Executive Director Joins Bank Board

The Bank of Butterfield announced that Meroe Park has been appointed to its Board as a Non-Executive Director. “Ms. Park was most recently the Executive Director of the United States Central Intelligence Agency, serving as the Agency’s chief operating officer in its most senior career post,” the announcement said. “Prior to her... Read more of this article

Clarien’s Hurricane Donation Drive Continues

Clarien’s Hurricane Donation Drive Continues

Hurricanes Irma and Maria left destructive paths of devastation throughout the Caribbean, and as the region recovers from both storms, the Clarien Bank hurricane donation drive continues to accept donations in support of Red Cross relief and recovery efforts. Clarien Bank Chief Marketing Officer Michael DeCouto commented: “As thousands in the region... Read more of this article