Despite the economic downturn, Capital G announced yesterday that it had increased its charitable donations by around 20 percent.

During the company's Third Annual Giving Back reception, Capital G Chairman James Gibbons said: "As a privately held, family owned bank, we believe in the Bermuda family and are committed to the success of Bermuda and all those who live and work here."

Along with its financial contributions, Mr. Gibbons said Capital G Employees have already given 1,794 hours of their time to various fund-raising efforts.

The event was attended by 90 representatives from 75 of the Island's charities, all of which have received grants from the Bank's donations programme.