single organisation that will deal with humanitarian issues in Bermuda.

Bank spokesperson David Lang said the new organisation called The Bank of Bermuda Foundation, will continue to serve the charities and causes formerly handled by the Bank's retired Centennial Trust, Charitable Trust and Educational Trust.

"Our strong commitment to support Bermuda's youth and community will remain the same, but under the new name,'' he said.

"This restructuring means that one organisation will embrace all the Bank's philanthropic activities -- it will be the sole source at the Bank that charitable organisations need come to for assistance, or that young people look to for scholarships offered by the Bank.'' Another Foundation spokesperson added: "The Bank of Bermuda Foundation will continue to help charities and causes that support our community and people, preserve our local heritage, culture and environment, and help develop the youth of Bermuda.'' Mr. Lang said the Bank of Bermuda began charitable actions in the 1940's with the Charitable Trust and later expanded with the Educational Trust.

The Centennial Trust was formed only a few years ago, celebrating the Bank's centennial birthday.

"But all the assets (of the previous organisations) are now in the Foundation,'' said Mr. Lang.

When asked who will decide the fate of charitable applications for funds, Mr.

Lang said: "There are a number of sub-committees that have been set up to do that. (The Board of Directors) will delegate when they feel it wise to do so.''