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Butterfield Bank Reports First Quarter Results

Butterfield Bank Reports First Quarter Results

The Bank of N.T. Butterfield & Son Limited announced financial results for the quarter ended March 31, 2018. First quarter core net income was $45.0 million, or $0.81 per diluted common share, compared to $42.2 million, or $0.76 per diluted common share for the fourth quarter of 2017 and $38.5 million, or $0.70 per diluted common share, for the... Read more of this article

Clarien Holds Base Lending, Increases Deposit

Clarien Holds Base Lending, Increases Deposit

Clarien Bank Limited will not adjust its BMD$ base lending rate following the US Federal Reserve rate increase of 0.25% announced today, however, the Bank announced that it will increase its BMD and USD Board Rates for term deposits, effective today, March 21. Clarien Bank CEO Ian Truran said: “We increased our base lending rate by 0.25% in January... Read more of this article

Bank Of Butterfield Reports 2017 Q4 Results

Bank Of Butterfield Reports 2017 Q4 Results

The Bank of Butterfield announced financial results for the fourth quarter and year ended December 31, 2017. Net income for the year ended December 31, 2017 was $153.3 million, or $2.76 per diluted common share, compared to $115.9 million or $1.18 per common share for the year ended December 31, 2016. Core net income1 for the year ended December 31,... Read more of this article

Butterfield To Acquire Deutsche Bank’s Business

Butterfield To Acquire Deutsche Bank’s Business

The Bank of Butterfield today announced that it has entered into an agreement to acquire Deutsche Bank’s banking and custody business in the Cayman Islands, Jersey and Guernsey. The filing stated, “The Bank of N.T. Butterfield & Son Limited today announced that it has entered into an agreement to acquire Deutsche Bank’s banking and custody... Read more of this article

Delayed Posting Of HSBC Card Transactions

Delayed Posting Of HSBC Card Transactions

HSBC Bermuda debit card transactions from December 29 to January 1 were “not posted to customer accounts due to technical issues,” and the posting was completed on February 6th the bank confirmed, adding that they “are waiving the overlimit fees attributed to this issue.” In response to queries from Bernews, an HSBC Bermuda... Read more of this article

Holiday GiveBack Campaign Raises $17,000

Holiday GiveBack Campaign Raises $17,000

Clarien Bank‘s annual Holiday GiveBack Campaign raised more than $17,000 for Meals on Wheels, marking the largest amount ever raised during their GiveBack campaign. Michael DeCouto, Chief Marketing Officer of Clarien Bank, today presented a cheque for $17,033 to Jason Powell, a member of the Board of Directors of Meals on Wheels. Since 2010,... Read more of this article

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