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Clarien Bank To Increase Base Lending Rates

Clarien Bank To Increase Base Lending Rates

Effective June 21, 2016 Clarien Bank Limited will be increasing its BMD$ personal base lending rate by 25 basis points [0.25%] from 3.50% to 3.75% and its BMD$ commercial base lending rate by 50 basis points [0.50%] from 3.50% to 4.00%. “These increases are as a result of changes to the US Federal Reserve Rates in late 2015 and ongoing changes... Read more of this article

Clarien: Enhanced Online Banking & New Cards

Clarien: Enhanced Online Banking & New Cards

Clarien Bank today [March 9] announced the launch of Clarien iBank, its new enhanced online banking platform, and also announced that on Thursday, March 10, it will be launching a new suite of Clarien VISA® Credit Cards. “Clarien iBank, which replaces the Bank’s eBanking platform, provides customers with improved control, security, functionality... Read more of this article

Bank Foundation Announce New Scholarships

Bank Foundation Announce New Scholarships

The Bank of Bermuda Foundation announced that two new scholarships are available for Bermuda students, with the Donald P. Lines Award valued at $15,000 per annum for one year, and the Bank of Bermuda Foundation Vocational Award is valued at $24,000 per annum for two years. A spokesperson for Bank of Bermuda Foundation said that these two awards represent... Read more of this article

HSBC Bank Bermuda 2015 Year End Results

HSBC Bank Bermuda 2015 Year End Results

HSBC Bank Bermuda Limited’s total operating income before loan impairment charges reduced by US $22m or 7% which reflected the sale of much of the bank’s Cayman operations in 2014, as well as the economic environment. Net operating income increased as the business benefited from the impact of lower loan impairment charges. Total loan impairment... Read more of this article

Butterfield Bank Earnings Increase In 2015

Butterfield Bank Earnings Increase In 2015

The Bank of N.T. Butterfield & Son Limited today announced core earnings for 2015 of $113.9 million, an improvement of $7.5 million compared to $106.4 million earned in 2014. The core cash earnings per share increased $0.03 to $0.20 per share. The core cash return on average tangible common equity improved to 18.4% in 2015, compared to 15.1% in... Read more of this article

Court: Two Men Charged With Multiple Counts

Court: Two Men Charged With Multiple Counts

Appearing in Magistrates Court this morning [Feb 22], two men —  who the Crown Prosecutor said were believed to be Bulgarian nationals — faced multiple charges involving stealing, and attempting to steal money from three of Bermuda’s banks. Chavdev Bachev, 42 and Georgi Todorov, 41, were not required to enter pleas as their case will... Read more of this article

Butterfield To Wind Down UK Private Bank

Butterfield To Wind Down UK Private Bank

In a filing with the Bermuda Stock Exchange, the Bank of N.T. Butterfield & Son Limited announced the winding down of UK Private Bank. The filing stated: The Bank of N.T. Butterfield & Son Limited today announced that it has commenced an orderly wind down of the deposit taking and investment management businesses of its wholly owned London... Read more of this article

HSBC: Saving Money Vs Investing Money

HSBC: Saving Money Vs Investing Money

[Advice column by HSBC Bermuda] I’ve always heard that I should invest my money instead of allowing it to sit in my savings account. However, I don’t really understand investing. What is difference between the two? When and how long should I invest for? Saving vs. investing your money The challenge with savings accounts With interest rates... Read more of this article

BCB CEO: “We Do Not Share Moody’s View”

BCB CEO: “We Do Not Share Moody’s View”

Following the statement from Moody’s saying they revised the credit rating of Bermuda Commercial Bank following the acquisition of Private & Commercial Finance Group PLC, Peter Horton, BCB Chief Executive Officer, said: “We do not share Moody’s view that our acquisition of a majority stake in PCFG warrants a downgrade of BCB. “On the... Read more of this article

Moody’s Downgrades BCB’s Deposit Rating

Moody’s Downgrades BCB’s Deposit Rating

Moody’s Investors Service has downgraded the long term deposit and issuer ratings of Bermuda Commercial Bank Limited [BCB] to Ba3, from Ba2, the bank’s standalone baseline credit assessment [BCA] and adjusted BCA to ba3 from ba2, and counterparty risk [CR] assessment to Ba2[cr] from Ba1[cr]. “The bank’s short term ratings and... Read more of this article

Butterfield To Close Waterfront Banking Centre

Butterfield To Close Waterfront Banking Centre

The Bank of N.T. Butterfield & Son Limited today [Feb 3] announced that it will close its Waterfront Banking Centre, located at 90 Pitt’s Bay Road in Pembroke, effective 5 February 2016. “The on-site ATM will remain in its current location but will be unavailable for a short period as the space is renovated. The closest Butterfield ATM... Read more of this article

Butterfield Introduce $2 ‘Statement Imaging’ Fee

Butterfield Introduce $2 ‘Statement Imaging’ Fee

Saying they adjust service fees “based on a variety of factors, including changes in customers’ channel usage preferences and associated transaction volumes,” the Bank of Butterfield has amended their fee structure, including introducing a $2 charge for “statement imaging.” A Bernews reader emailed in about the $2 charge, and... Read more of this article

Butterfield Receives CityWealth IFC Award

Butterfield Receives CityWealth IFC Award

Butterfield — comprising Bermuda-based Bank of N.T. Butterfield & Son Limited and its international subsidiaries —  has received two International Financial Centre Awards from Citywealth, the UK-based publisher of wealth-management industry news and directories. Butterfield was named Trust Company of the Year – Caribbean and Private... Read more of this article