Hashtag: #BermudaBanks
Survey: 58.8% Satisfied With Their Primary Bank
According to a recent survey released by Profiles of Bermuda on how residents were satisfied with their primary bank, 58.8% were satisfied, while 41.2% were dissatisfied. A spokesperson said, “In a recent survey, residents were asked how satisfied they were with their primary bank. Nearly 6 in 10 [58.8%] were satisfied, while more than 4 in 10... Read more of this article
HSBC’s Offices To Open At 10am Tomorrow
HSBC Bermuda’s offices will open at 10.00am tomorrow [Sept 9] due to the approach of Hurricane Earl. A spokesperson said, “Out of an abundance of caution due to the formation of Hurricane Earl, HSBC Bermuda’s offices will open at 10.00am tomorrow, September 9th, 2022. “The bank will advise accordingly should there be any further updates regarding... Read more of this article
Butterfield Preparations For Hurricane Earl
Butterfield is advising the public that due to Hurricane Earl, all Butterfield Banking Centres and offices in Bermuda will be closing at 3.00pm today [Sept 8]. A spokesperson said, “At this time, Butterfield anticipates reopening its Banking Centres tomorrow [Friday, 9 September] at 12 p.m. provided it is safe to do so. “Some ATM’s will be temporarily... Read more of this article
Credit Suisse Signs Agreements With Butterfield
Credit Suisse has signed agreements with Butterfield and Gasser Partner to sell its global trust business. A spokesperson said, “Credit Suisse has signed two agreements to sell the Credit Suisse Trust business to Butterfield and Gasser Partner. All parties are committed to ensuring a seamless transition with a focus on the continuation of services... Read more of this article
Clarien Bank Increase In Base Lending Rates
Effective September 1, 2022, Clarien will be adjusting its Bermuda Dollar base lending rate by 50 basis points [0.50%] following the US Federal Reserve rate increase on July 27, 2022. A spokesperson said, “Clarien base lending rates will increase as follows: BMD$ Increase from Increase to Personal Mortgages 4.50% 5.00% Commercial Mortgages 4.75% 5.25% “Clients... Read more of this article
Butterfield: No Share Repurchases In July 2022
In a filing with the Bermuda Stock Exchange, the Bank of N.T. Butterfield & Son Limited advised that during the month of July 2022, the Bank did not repurchase Common Shares for cancellation. Related Stories Butterfield Senior Management Appointments Bank Of Butterfield Adjusts Rates Bank Of Butterfield Adjusts Rates Butterfield Banking Hours... Read more of this article
HSBC Bank To Raise Its Base Lending Rate
HSBC Bank Bermuda announced today “that it will increase its base lending rate by 0.50%, effective 4 October 2022.” A spokesperson said, “The Bank would like to make its customers aware that the base rate for Bermuda dollar residential mortgages and consumer loans will increase by 0.50%, i.e. from 3.50% to 4.00%. This will be the... Read more of this article
Bank Of Butterfield Adjusts Rates
The Bank of Butterfield announced that “in response to today’s 75 basis point increase in the target range of the US Federal Funds Rate, it is adjusting its base interest rates on loans by half a percentage point [0.5%], absorbing a third of the rise.” A spokesperson said, “The change in the US Federal Funds Rate has a significant... Read more of this article
Butterfield Reports Second Quarter 2022 Results
The Bank of Butterfield announced financial results for the second quarter ended June 30, 2022. A spokesperson said, “Net income for the second quarter of 2022 was $49.1 million or $0.99 per diluted common share compared to net income of $44.4 million, or $0.89 per diluted common share, for the previous quarter and $39.6 million, or $0.79... Read more of this article
Butterfield: Saturday Banking & ATM Vestibule
Butterfield announced the return of Saturday banking and also noted that they have opened a new 24-hour ATM vestibule on Front Street. A spokesperson said, “Starting this weekend, the Reid Street Banking Centre in Hamilton will be open to clients from 10 a.m. until 3 p.m. each Saturday. All over-the-counter and personal banking services will be available... Read more of this article
Butterfield: No Share Repurchases In June 2022
In a filing with the Bermuda Stock Exchange, the Bank of N.T. Butterfield & Son Limited advised that during the month of June 2022, the Bank did not repurchase Common Shares for cancellation. Related Stories Butterfield Senior Management Appointments Bank Of Butterfield Adjusts Rates Bank Of Butterfield Adjusts Rates Butterfield Banking Hours... Read more of this article
Amendment To Allow Regulation Of Banking Fees
Premier David Burt tabled a Bill which will provide the BMA “with an express power to issue codes of conduct in relation to the manner in which an institution conducts deposit-taking business” and it will also “allow for the regulation of banking fees.” Speaking in the House of Assembly today [July 1], the Premier and Minister... Read more of this article
Butterfield Opens Graduate Talent Programme
Butterfield has announced that it is now accepting applications to its Graduate Talent Programme via its website. A spokesperson said, “The programme is distinct from previous iterations in that it is open not only to university graduates but also to bright, talented and ambitious candidates who may have chosen a different path and have work experience... Read more of this article
Butterfield: No Share Repurchases In May 2022
In a filing with the Bermuda Stock Exchange, the Bank of N.T. Butterfield & Son Limited advised that during the month of May 2022, the Bank did not repurchase Common Shares for cancellation. Related Stories Butterfield Senior Management Appointments Bank Of Butterfield Adjusts Rates Bank Of Butterfield Adjusts Rates Butterfield Banking Hours And... Read more of this article
Premier Burt Congratulates Jewel Bank
“A milestone for Bermuda’s Fintech industry” said Premier & Minister of Finance David Burt as he congratulated Jewel Bank following the issuance of their new full banking licence and Class F digital asset business license from the Bermuda Monetary Authority [BMA], noting that it is ”Bermuda’s first new bank in 21 years.” “One... Read more of this article
Jewel Bank Receives Bank & DABA License
Jewel Bank has received approval from the Bermuda Monetary Authority [BMA] for its combined full bank license and digital asset business [DABA] license. The company said, “Jewel Bank is Bermuda’s first new bank in over twenty years and first digital asset bank. Jewel’s services address the core banking, payments, and settlement needs... Read more of this article
