Hashtag: #BermudaBanks
Video: S&P On Lowering Bermuda Bank Ratings
In a CreditMatters video, Standard & Poor’s Director Robert Hansen explains what prompted the ratings agency to revise their banking industry country risk assessment on Bermuda. Topics include the economy, unemployment, the real estate market, nonperforming loans, and the potential credit rating implications on specific banks. Last week... Read more of this article
S&P Lowers Ratings: Butterfield, HSBC Bermuda
[Updated] Citing a “persistent weakness in the economy,” Standard & Poor’s today [Sept 26] lowered the long-term issuer credit ratings on HSBC Bermuda and Bank of Butterfield, and said the outlooks on both banks is negative. S&P said, “These actions primarily result from our view that economic risks for Bermudian banks have... Read more of this article
HSBC Bermuda Launch Mobile Banking App
HSBC Bermuda has launched a mobile banking app, which allows HSBC customers to view local account balances, transfer funds between their accounts, pay bills and more. HSBC Bermuda Head of Retail Banking Wealth Management, Blake Hellam said, “Our customers in Bermuda lead very busy lifestyles managing work, family and social commitments. The mobile... Read more of this article
New Small Business Loan Product Launched
Nick Kempe, the Chairman of the Bermuda Economic Development Corporation [BEDC], and Michael Veale, Sr. Vice President of Personal and Commercial Banking at Capital G, today [Sept 18] launched the BEDC and Capital G Micro Loan Product for Small Businesses. The Micro Loan product will be available to all small businesses, island wide; including vendors... Read more of this article
Encrypted Microchip In New Butterfield Cards
The Bank of Butterfield has introduced “Chip and PIN” credit cards, which feature an embedded, encrypted microchip for data storage which enhances fraud and counterfeit protection. The new technology is first being introduced in the Butterfield / AAdvantage® MasterCard® Black, Butterfield / AAdvantage® Platinum MasterCard®, and the Butterfield... Read more of this article
Butterfield Bank July 2013 Share Repurchases
In a filing with the Bermuda Stock Exchange, the Bank of N.T. Butterfield & Son Limited announced that during the month of July 2013, the Bank purchased for Treasury 460,416 Common Shares at an average price of $1.388 per share. In addition, in June the Bank purchased for cancellation 460 8% Preference Shares at an average price of $1,200.65. Related... Read more of this article
“Role Reductions” At HSBC Bermuda Office
[Updated] HSBC Bermuda today [Aug 7] confirmed there will be “role reductions” in the Bermuda office following a decision to move certain fund administration and custody services to their offices in Europe. An HSBC Bermuda spokesperson stated: “Following a strategic review of the HSBC Securities Services business [HSS] in Bermuda and after... Read more of this article
Peter Horton Appointed Commercial Bank CEO
Bermuda National Limited [BNL], a listed financial services investment holding company today [Aug 6] announced the appointment of Mr. Peter Horton [pictured] as Chief Executive Officer of Bermuda Commercial Bank Limited, BNL’s 100% subsidiary. Mr. Horton joins BCB from the Bank of Maldives where he has been CEO and Managing Director for the past two... Read more of this article
Butterfield Bank Reports Second Quarter Results
The Bank of N.T. Butterfield & Son Limited today [July 30] announced core earnings for the second quarter ended 30 June 2013 of $20.2 million, an improvement of 71% over the $11.8 million earned in the same quarter a year ago. Net income for the quarter was $32.9 million, including non-core net items of $12.7 million, up $16.7 million compared to... Read more of this article
Richardson, Minors Win Butterfield Scholarships
The Bank of N.T. Butterfield & Son Limited has awarded $50,000 in scholarships to two young Bermudians to assist them with their overseas educational expenses for the 2013/2014 academic year. Akeila Richardson, the recipient of the Sir Harry D. Butterfield Scholarship, and Kevin Minors, the recipient of the Sir A. Dudley Spurling Postgraduate Scholarship,... Read more of this article
Butterfield To Sponsor Natwest Island Games
Butterfield Group, which includes Bermuda-based The Bank of N.T. Butterfield & Son Limited and subsidiaries Butterfield Bank [Cayman] Limited and Butterfield Bank [Guernsey] Limited, is a proud sponsor of the 2013 NatWest Island Games being held in Bermuda from July 13 to July 19, 2013. Butterfield will be highly visible as one of the larger local... Read more of this article
Butterfield Trust Shortlisted For STEP Award
The Bank of N.T. Butterfield & Son Limited’s international trust business comprising its companies in The Bahamas, Bermuda, the Cayman Islands, Guernsey, Switzerland and New Zealand has been shortlisted for Institutional Trust Team of The Year in the 2013 Society of Trust and Estate Practitioner [STEP] Private Client Awards. The awards highlight... Read more of this article
