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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

Clarien Raises Over $10K For Meals On Wheels

Clarien Raises Over $10K For Meals On Wheels

Clarien Bank‘s annual Holiday GiveBack Campaign raised more than $10,000 for Meals on Wheels. Clarien Bank CEO Ian Truran today [Jan 21] presented Allison Garland of Meals on Wheels, with a cheque for $10,605.50. Since 2010, the annual campaign has donated over $70,000 to the Meals on Wheels programme. The money was raised through donations... Read more of this article

Bank Of Butterfield’s Treasury Shares Buy Back

Bank Of Butterfield’s 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 November 2015, the Bank purchased for Treasury 350 Common Shares at an average price of $1.80 per shares. There were no Preference Shares purchased. In addition, during the month of December 2015, the Bank purchased for Treasury... Read more of this article

HSBC: Managing Your Finances Better In 2016

HSBC: Managing Your Finances Better In 2016

[Advice column by HSBC Bermuda] It’s a new year, and I want to tighten up my finances. I am paying on my car loan, my child’s tuition and covering other expenses. But in the long term, I want to buy a house and hopefully retire early. How do I meet my current financial obligations and stay on track to meeting my long term goals? It’s great that... Read more of this article

No Bermuda Dollar Base Lending Rate Increase

No Bermuda Dollar Base Lending Rate Increase

Clarien Bank Limited stated today [Dec 17] that it will not raise its Bermuda Dollar Base lending rate at this time in accordance with the increase in US interest rates as announced on December 16 by the US Federal Reserve. The Bank said they “will continue to monitor changes in the global interest rate environment, Bermuda’s macroeconomic conditions... Read more of this article