won over the next few months. But to achieve them, Bermudians must work together.

This was the message of Bank of Butterfield president Mr. Michael Collier in his quarterly letter to shareholders.

He said the bank was "actively working to accelerate'' racial integration and achieve a more even distribution of the economic pie.

But he warned they would not be easy goals to achieve.

But the bank would seek "to make sure those employees who show talent and ability are given every opportunity to move ahead and realise their potential''.

Mr. Collier urged Bermuda to rediscover its "best traditional qualities''. In doing so, he said, differences that "even the great social and political progress of the last 30 years have yet to eliminate'', could be eroded.

Indications were that the bank's earnings would be "more than satisfactory'' this quarter as local businesses steadily recover from recession.

And he said: "There are encouraging signs of a strong turn-up in the Island's hospitality sector.'' But there was "still some way to go in terms of encouraging our guests to stay longer and spend more than they have in recent years''.

Value for money was something Bermuda must strive for, he said.

"Bermuda has suffered from complacency and being overpriced in the tourist industry,'' he said. "Generally speaking we still have a fine product to offer. But in today's market we must be ready at all times to go that extra mile and provide a level of quality service needed to set Bermuda apart from other often less expensive holiday destinations.''