Tag: Bermuda banks

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

Gregory Slayton Appointed To Clarien Board

Gregory Slayton Appointed To Clarien Board

Clarien Bank Limited today announced the appointment of Gregory Slayton as an independent director of its Board of Directors. Since 2009, Mr. Slayton has served as Managing Director of Slayton Capital, a private venture capital firm active in China, Hong Kong, Singapore, and Taiwan. He is a Distinguished Visiting Professor at the University of International... Read more of this article

Fitch Affirms Bermuda Commercial Bank’s IDRs

Fitch Affirms Bermuda Commercial Bank’s IDRs

Fitch Ratings has affirmed the Long- and Short-term Issuer Default Ratings [IDRs] of Bermuda Commercial Bank [BCB] at ‘BBB-/F3′. The Rating Outlook is Stable. A statement from the ratings agency said, “The affirmation of BCB’s IDRs and Stable Outlook reflects the company’s liquid balance sheet and its strong capital position.... Read more of this article

Fitch Affirms Bank Of Butterfield’s Ratings

Fitch Affirms Bank Of Butterfield’s Ratings

Fitch Ratings has affirmed Bank of N.T. Butterfield & Son Limited’s [BNTB] long-term Issuer Default Rating [IDR] at ‘A-’ and Viability Rating [VR] at ‘bbb-’. The Rating Outlook is Negative. A statement from Fitch said, “The Outlook reflects Fitch’s evolving views of sovereign support. Fitch envisions the... Read more of this article

Butterfield Bank May 2014 Share Repurchases

Butterfield Bank May 2014 Share Repurchases

In a filing with the Bermuda Stock Exchange, the Bank of N.T. Butterfield & Son Limited announced that during the month of May, 2014, the Bank purchased for Treasury 670,214 Common Shares at an average price of $1.990 per share. In addition, in May, the Bank purchased 15 8% Preference Shares for cancellation at an average price of $1,179.31. Related... Read more of this article


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