Hashtag: #BermudaBanks
Butterfield Open House During Harbour Nights
Butterfield invites the public to come and view its reopened Front Street Banking Centre this Wednesday [May 24], from 7-9pm during the first Harbour Nights festival of the 2023 season to mark the building’s 100th anniversary. A spokesperson said, “The design of the fully renovated space was inspired by records and photography of the original... Read more of this article
Newly Renovated Banking Centre To Reopen
On Monday, May 22, Butterfield will reopen the doors to their Front Street Banking Centre following a complete renovation. A spokesperson said, “As part of the transition, the Reid Street Banking Centre will close permanently, with all staff relocated to Front Street. “Butterfield’s Banking Centre at 65 Front Street, which first opened in 1923,... Read more of this article
BMA Invites Feedback On Bank OTL Fees
“The Banks and Deposit Companies Act 1999 was recently amended [in section 60[2]], to enable the Minister of Finance to ‘regulate any commercial or operational business fee, charge or penalty’ applied by banks to their customers,” the Bermuda Monetary Authority said. A spokespeson said, “In this connection, the Bermuda... Read more of this article
Butterfield Adjusts Rates Following Fed Increase
The Bank of Butterfield announced that, in response to the 25 basis point increase in the target range of the US Federal Funds Rate, it is adjusting its base interest rates on loans and mortgages by a quarter of a percentage point [0.25%]. A spokesperson said, “The change in base rates applies to Bermuda dollar residential mortgages, consumer... Read more of this article
Butterfield Share Repurchases For April 2023
In a filing with the Bermuda Stock Exchange, the Bank of N.T. Butterfield & Son Limited advised that during the month of April 2023, the Bank repurchased for cancellation 124, 912 Common Shares at an average price of $25.74 per share. Related Stories Butterfield Share Repurchases For March 2024 Butterfield Share Repurchases For Feb 2024 Bank... Read more of this article
Butterfield Reports First Quarter 2023 Results
The Bank of Butterfield today announced financial results for the quarter ended March 31, 2023. A spokesperson said, “Net income for the first quarter of 2023 was $62.2 million, or $1.24 per diluted common share, compared to net income of $63.1 million, or $1.26 per diluted common share, for the previous quarter and $44.4 million, or $0.89 per... Read more of this article
Butterfield Share Repurchases For March 2023
In a filing with the Bermuda Stock Exchange, the Bank of N.T. Butterfield & Son Limited advised that during the month of March 2023, repurchased for cancellation 99,929 Common Shares at an average price of $31.05 per share. Related Stories Butterfield Share Repurchases For March 2024 Butterfield Share Repurchases For Feb 2024 Bank Of Butterfield... Read more of this article
Clarien Acquires Omnium Group Of Companies
Clarien Bank Limited has signed an agreement to acquire Omnium Trust Company Limited [Omnium Trust] and Omnium Corporate Services Limited [Omnium Corporate Services], a boutique practice offering quality trust and corporate administration services. A spokesperson said, “The terms of the acquisition, which strengthens Clarien’s aspiration to be Best... Read more of this article
Butterfield To Upgrade Systems Over Holiday
Butterfield advised that an “upgrade to its existing banking systems is scheduled to take place during the upcoming public holiday weekend.” A spokesperson said, “Banking Centres and corporate client services will be closed on Friday, 7 April, in observance of Good Friday, and Butterfield Online will be unavailable from 4pm on Thursday,... Read more of this article
Butterfield Holds Rates After Fed Increase
The Bank of Butterfield announced that “it will not adjust its base interest rates on loans and mortgages in response to today’s 25 basis point increase in the target range of the US Federal Funds Rate.” A spokesperson said, “The base rate for Bermuda dollar residential mortgages, consumer loans, corporate loans and USD loans all remain... Read more of this article
Bankers Association: Beware Of Phishing Scams
The Bermuda Bankers Association is urging “all members of the community to be aware of phishing fraud scams, some of which target vulnerable groups such as senior citizens.” A spokesperson said, “Phishing is a type of online or telephone scam that targets consumers by appearing to be from a well-known source – a local utility company,... Read more of this article
Clarien Bank Launches International Equity Fund
Clarien Bank Ltd, one of the largest independent integrated financial services organisations in Bermuda, announced the launch of its new International Equity Fund, a global investment for sustainable development. A spokesperson said, “The International Equity Fund seeks to generate strong financial returns for clients, as Clarien invests not only... Read more of this article
Butterfield Share Repurchases For February 2023
In a filing with the Bermuda Stock Exchange, the Bank of N.T. Butterfield & Son Limited advised that during the month of February 2023, repurchased for cancellation 45,000 Common Shares at an average price of $36.63 per share. Related Stories Butterfield Share Repurchases For March 2024 Butterfield Share Repurchases For Feb 2024 Bank Of Butterfield... Read more of this article
Apply For Butterfield’s Internship Programme
Butterfield’s 2023 Summer Internship Programme is now open to applications, with the company saying the “paid ten-week programme will see interns gain hands-on experience in the financial services industry and work alongside seasoned professionals in their fields.” A Butterfield spokesperson said, “During their time, they will undergo... Read more of this article
Clarien Bank Increases Base Lending Rates
Commencing March 1, 2023, Clarien will be adjusting its Bermuda Dollar base lending rate by 50 basis points [0.50%] and the USD Prime base lending rate by 75 basis points [0.75%] following the US Federal Reserve rate increase on February 1, 2023. A spokesperson said, “Clarien base lending rates will increase as follows: BMD Personal Increase... Read more of this article
Butterfield Reports Q4 & Full Year 2022 Results
The Bank of N.T. Butterfield & Son Limited today announced financial results for the quarter and year ended December 31, 2022. A spokesperson said, “Net income for the year ended December 31, 2022 was $214.0 million, or $4.29 per diluted common share, compared to $162.7 million, or $3.26 per diluted common share, for the year ended December 31,... Read more of this article
