Butterfield Bank has been named "Best Bank in Bermuda" by Global Finance magazine.

Editors of Global Finance, which reaches more than 250,000 readers in over 158 countries, named the winners in each juridisction after consulting with bankers, corporate financial executives and analysts throughout the world.

Joseph Giarraputo, president and publisher of Global Finance said the magazine looks for operations that set standards for the competition.

"We recognise these banks for their outstanding accomplishments. Conditions in each market may have differed but the winning banks were all noteworthy in their dedication to satisfying their customers' needs," he said.

Alan Thompson, president and chief executive officer of Butterfield Bank, was pleased to receive the honour for the second year in a row.

"We work hard to serve our customers, provide competitive products and rates and strengthen our performance. This award reflects the efforts of the Butterfield family of employees and together we will continue to seek ways of improving our service and products to our valued Bermuda customers."

The award follows The Banker magazine's decision last September to name Butterfield Bank as the Best Bank in Bermuda for the fourth consecutive year.