Hashtag: #BermudaBanks
Butterfield Bank Adds $1 P/M Savings Account Fee
Butterfield Bank is implementing a new fee of $1 per month per savings account. The newly added fee is a “maintenance fee” according to the Bank’s website, and is waived for seniors, youth and charities. However at least one customer is unhappy with the lack of notice about the charge, with an email we received saying: “The... Read more of this article
Bermuda Commercial Bank Proposed Restructuring
Bermuda Commercial Bank Limited [BCB] proposes to establish a new holding company, Bermuda National Limited [BNL]. The new company will be an exempted limited liability company incorporated under the laws of Bermuda. BNL will become an investment holding company for BCB, its subsidiaries and other strategic investments. The shares of BNL will be listed... Read more of this article
BCB: Scholarships To Bermuda College Students
Bermuda Commercial Bank [BCB] have awarded three scholarships to exemplary students in our community. The Bank said they understand that individuals of all ages may wish to pursue academic excellence, so this year one of the scholarships was open for all ages to apply. Eden Smith, Christopher Michael Phillips, and Juliette Carol Swan were presented... Read more of this article
Butterfield Completes Sale of Barbados Subsidiary
The Bank of N.T. Butterfield & Son Limited has completed the sale of its wholly-owned Barbados subsidiary, Butterfield Bank (Barbados) Limited, to Trinidad and Tobago-based First Citizens Bank Limited. Butterfield announced in May 2012 that it had reached an agreement for the sale of its Barbados business to First Citizens, pending regulatory... Read more of this article
Bermuda Commercial Bank Market Announcement
In a filing to the Bermuda Stock Exchange, the Bermuda Commercial Bank Limited confirmed and updated the treasury stock information stated in the Bank’s 2010 and 2011 annual reports. The submission stated: “In fiscal 2010, a total of 44,873 shares were repurchased to be held as treasury stock. In fiscal 2011, a further 23,000 shares were acquired... Read more of this article
Moody’s Ratings Agency Downgrades BCB
The rating agency Moody’s has downgraded its ratings for Bermuda Commercial Bank Limited [BCB] to Ba2, with a stable outlook. Horst E. Finkbeiner, Director & Chief Operating Officer commented that, “While disappointed with the downgrade we are pleased that our solid capital position and strong liquidity were recognized by Moody’s. We remain... Read more of this article
Butterfield Bank Reports Second Quarter Profit
The Bank of N.T. Butterfield & Son Limited today [July 31] reported second quarter net income of $16.2 million [$0.02 per share on a fully diluted basis], up 37.7% compared to $11.8 million in the second quarter of 2011 and up $1.5 million over the $14.7 million recorded in the first quarter of 2012. Cash earnings [before amortisation of intangibles]... Read more of this article
Photos: HSBC Pre-Cup Match Celebrations
HSBC Bank is getting into the Cup Match spirit with free snowballs in the team colours being served at various branches today [July 31] as well as mini-cricket game taking place in the Bank’s lobby. HSBC CFO Michael Schrum and Senior Product Manager Mitch Barker moved into another role for the day, and could be found outside serving snowballs... Read more of this article
BIU Credit Union Puts Loan Payouts On Hold
The BIU Members Credit Union Co-op Society confirmed this afternoon [July 27] they have a short-term hold on loan payouts, which they said was due to a larger than usual withdrawal of members’ funds and loan requests over the past six months. A statement issued said: “The BIU Members Credit Union Co-op Society hereby confirms that a short-term... Read more of this article
Capital G Implements New Banking Technology
On the 16th of July, 2012 Capital G Bank Limited implemented a new integrated core banking system. The company said the new system is expected to provide a more modern, flexible and cost effective banking solution which, in turn, will help Capital G to achieve its commercial aspirations for enterprise growth and long-term competitive advantage. Ian... Read more of this article
Local Banks Team Up To Combat Online Fraud
Capital G Bank Limited, HSBC Bank Bermuda Limited, The Bank of N.T. Butterfield & Son Limited and Bermuda Commercial Bank Limited, in cooperation with the Bermuda Police Service, the Bermuda Bankers’ Association, the Department of Consumer Affairs of the Government of Bermuda, and the Bermuda Monetary Authority, have launched a consumer education... Read more of this article
Butterfield Bank, BCB Share Transactions
In a filing with the Bermuda Stock Exchange, the Bank of N.T. Butterfield & Son Limited announced that during the month of June, 2012, the Bank repurchased for Treasury: 530,914 common shares at an average cost of $1.242 per share. In another filing with the Bermuda Stock Exchange, Bermuda Commercial Bank Limited gave notice of a transaction in... Read more of this article
