Butterfield Bank has won a bank of the year award for the fourth year in a row.

The bank was given the accolade by international banking publication The Banker.

Michael Collins, Butterfield’s chief executive officer, said: “Having earned that distinction for four years running is a point of particular pride for all of us at the bank.

“It reflects the priority we place on innovation, customer service and commitment to our community.”

Mr Collins added that the award followed the bank’s decision earlier this year to make an initial public offering on the New York Stock Exchange, which raised $287 million from US investors.

And in April the bank bought rival HSBC’s private banking, investment management and trust business in Bermuda, making Butterfield the largest provider of wealth management services on the island.

The Banker, published by the Financial Times Group, is a UK-based magazine that selects banks in more than 100 countries every year for awards.

Judges consider the bank’s financial performance, as well as strategic initiatives, innovative use of technology and service delivery channels and efforts to expand banking services to all parts of their communities.

The new award is the latest in a series picked up by the bank this year.