Butterfield Bank has been named Best Developed Market Bank 2007 for Bermuda by Global Finance magazine. This is the third consecutive year Butterfield Bank has won an award from Global Finance and this award follows a fifth consecutive accolade from The Banker for being the Best Bank in Bermuda.

Butterfield Bank shares the limelight this year with two other banks in the North American category, Citi in the US and Royal Bank of Canada. European winners of the Global Finance Best Developed Market Bank this year include Barclays in the UK, Deutsche Bank in Germany and UBS in Switzerland.

Alan Thompson, president and chief executive officer of Butterfield Bank, said: “The award shows how competitive we are, not only in the local marketplace but also on a global stage today we stand on the same podium as some of the world’s largest and most successful financial institutions.”

A Global Finance release said the winning banks of 2007 were institutions which carefully attended to the needs of their customers and accomplished enviable results, while laying the foundations for future success.