Staples has won a contract for the management of the Bank of Butterfield's stationery and purchasing functions.

Bank of Butterfield president and CEO Alan Thompson expressed delight at the contract, which took effect yesterday.

"The bank is continuously looking for ways to improve efficiency and customer service and to this end it is a natural progression to outsource this function to a company with specialised expertise in this field.''

Stapes, a Bermudian company, is the Island's largest office supply and equipment distributor.

Staples president and CEO Michael Johnson said: "We look forward to working with the team at the Bank of Butterfield to utilise our proven practices and web-based solutions to manage these functions efficiently for the bank."