Hashtag: #BermudaBanks
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 Share Repurchases For March 2024 Butterfield Share Repurchases For Feb 2024 Bank Of Butterfield Notice Of Share Ownership Butterfield... 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 Share Repurchases For March 2024 Butterfield Share Repurchases For Feb 2024 Bank Of Butterfield Notice Of Share Ownership Butterfield... 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
Butterfield Bank General Meeting Voting Results
In a filing with the Bermuda Stock Exchange, the Bank of N.T. Butterfield & Son Limited announced the results of the Shareholders’ vote at the Bank’s Annual General Meeting held in virtual format on May 25th. The filing stated: “Each of the proposals numbered 1 through 4 on the Meeting Agenda was approved by the requisite vote, including the... Read more of this article
Clarien Bank Increase Base Lending Rates
Effective June 1st, 2022, Clarien will be adjusting its Bermuda Dollar base lending rate by 50 basis points [0.50%] following the US Federal Reserve rate increase earlier this month. A spokesperson said, “The Bermuda Dollar Base rate will increase as follows: BMD$ Increase from Increase to Personal Mortgages 4.00% 4.50% Commercial Mortgages 4.25% 4.75% “Clients... Read more of this article
Butterfield: No Share Repurchases In April 2022
In a filing with the Bermuda Stock Exchange, The Bank of N.T. Butterfield & Son Limited advised that during the month of April 2022, the Bank did not repurchase Common Shares for cancellation. Related Stories Butterfield Share Repurchases For March 2024 Butterfield Share Repurchases For Feb 2024 Bank Of Butterfield Notice Of Share Ownership Butterfield... Read more of this article
Bank Of Butterfield Adjusts Interest Rates
The Bank of Butterfield announced that, in response to yesterday’s 50 basis point increase in the US Federal Funds Rate, it is adjusting its interest rates on loans and selected deposits. A spokesperson said, “The base rate for Bermuda dollar residential mortgages, consumer loans, corporate loans and USD loans will increase by 0.50%. The rate increase... Read more of this article
HSBC Launch New Online Web Chat Platform
HSBC Bermuda announced the launch of Web Chat, a new service where “customers can connect directly to HSBC agents via the HSBC website and internet banking platform.” A spokesperson said, “HSBC Bermuda is the only bank in Bermuda to offer chat capabilities, and the move comes as the bank continues to modernize and digitize their customer... Read more of this article
Butterfield Share Repurchases For March 2022
In a filing with the Bermuda Stock Exchange, the Bank of N.T. Butterfield & Son Limited advised that during the month of March 2022, the Bank repurchased for cancellation 24,000 Common Shares at an average price of $36.28 per share. Related Stories Butterfield Share Repurchases For March 2024 Butterfield Share Repurchases For Feb 2024 Bank Of... Read more of this article
Clarien Appoints Pearline McIntosh To SVP
Clarien Bank has appointed Pearline McIntosh to SVP, Head of Private Banking. A spokesperson said, “Clarien Bank is pleased to announce the appointment of Pearline McIntosh to SVP, Head of Private Banking, responsible for the day-to-day management of the Private Banking team within Clarien’s Wealth Management group. “Mrs. McIntosh has significant... Read more of this article
