Hashtag: #BermudaBanks
Butterfield Bank Ratings Unaffected By Downgrade
Fitch Ratings issued a statement saying the Bank of Butterfield’s ratings are “unaffected” by Fitch’s downgrade of Bermuda, the rating agency said today. Earlier today [June 26] Fitch downgraded Bermuda to ‘AA’ from ‘AA+’, saying the downgrade “reflects its weak macroeconomic performance relative to peers, deteriorating... Read more of this article
HSBC Launches Diversity & Inclusion Initiative
HSBC Bermuda launched a new Diversity and Inclusion initiative called the Diversity Awards Programme. The Programme is designed to recognise Bank employees who go above and beyond to advance diversity and inclusion at HSBC Bermuda or within the wider Bermuda community. All Bank employees are eligible for nomination and to nominate colleagues for the... Read more of this article
Butterfield Bank Hires New Legal Team
[Updated] The Bank of N.T. Butterfield & Son Limited announced that on 13 August 2012, Shaun Morris [pictured] will join the Bank as General Counsel and Group Chief Legal Officer and Benjamin Dyer will join the Bank as Deputy General Counsel. Mr. Morris has served as a non-executive Director on the Bank’s Board since 2007. He will retire as a... Read more of this article
Alastair Barbour Joins Butterfield’s Board
The Board of Directors of The Bank of N.T. Butterfield & Son Limited today [May 23] announced that Alastair Barbour has been appointed a non-executive Director, filling the vacancy created by Robert Steinhoff who retired following the 2012 Annual General Meeting. Mr. Barbour is a Chartered Accountant with more than 25 years experience providing... Read more of this article
Bermuda Commercial Bank 6 Month Profit: $3.2M
The Bermuda Commercial Bank Limited [BCB] released details of the financial results and operations for the six months ended 31 March, 2012. BCB reported a profit of $3.23 million for the six months ended March 31, 2012 equating to fully diluted earnings per share of $0.44. This compares with a profit of $1.35 million ($0.20 per share) for the six months... Read more of this article
Court: Man Pleads Guilty To Smashing ATM
This morning [Apr.16] in Magistrates Court, 32-year-old Paul Clarence Williams pleaded guilty to smashing an HSBC cash machine at White’s Supermarket on Middle Road in Warwick, with Mr Williams saying he did it as the ATM took his card. The action happened 3:40am on Sunday 8th April 2012 and was recorded on the machine’s CCTV camera system. Police... Read more of this article
Minister Announces Grand Atlantic Open House
[Updated] Public Works Minister Michael Weeks today [Mar. 22] announced that there will be an open house at the Grand Atlantic development on Saturday, March 31 from 10 am – 4 pm. Minister Weeks will be at the open house from 3 to 4 p.m. to meet and speak with interested buyers and a representative from the Bank of Butterfield will also be available... Read more of this article
John Deuss Goes On Trial In Holland
One-time Bermuda-based businessman John Deuss has gone on trial in the Netherlands accused of banking without a license, disguising unusual transactions and forming a criminal organisation that made possible large-scale carousel fraud in England. Dutch media sources reported today [Mar. 26] that the 69-year-old banker and oil trader was standing... Read more of this article
BMA Issues Quarterly Banking Digest
The Bermuda Monetary Authority published its latest quarterly banking digest for the island last week [Mar. 14] and the new statistics show the aggregate risk asset ratio of Bermuda banks remained flat at 23.2% during the quarter as lower risk-weighted assets — down by 3.8% — offset an increase in leverage. The digest also reported that... Read more of this article
Capital G 2011 Earnings: $3.2 Million
Capital G Bank Limited today [Mar.15] announced earnings of $3.2 million for the year ended December 31, 2011, down 7% from $3.4 million recorded for the same period last year. The Bank’s net operating income before loan loss provisions climbed to $58.4 million, equivalent to a 28% improvement from $45.8 million in 2010. Ian Truran, the Bank’s President... Read more of this article
100% Financing For Warwick Condos
[Updated] 100% financing will be offered to qualified first-time home purchasers of units at the Grand Atlantic Development in Warwick, said Minister of Public Works Michael Weeks this afternoon [Mar.12]. “While others in the community have been busy crying disaster, doom and gloom, the Government of Bermuda is hard at work coming up with creative... Read more of this article
Alleged Fraudster Used Bermuda Account
The US Securities and Exchange Commission today [Mar.6] announced it has charged a New York-based investment adviser with using a Bermuda client fund account to defraud investors in five offshore funds, using some of their money to buy himself a multi-million dollar beach resort property on Long Island. The SEC alleges that Brian Raymond Callahan of... Read more of this article
