next year.

The bank's branch in the Cayman Islands plans to offer on-line banking in the first quarter of next year to help it keep pace with competitors. The Cayman Islands is the world's fifth largest banking region. Over 350 of the world's major banks have offices on the Islands.

But despite all the competition, the Bank of Butterfield's Cayman branch has reported steady growth over its 12 year history. In fact the branch's managing director Conor O'Dea said a current challenge of the Cayman office was the strain on resources caused by the high growth rate.

Mr. O'Dea attributed the Bank's success to its high level of customer service and focus on internal efficiencies.

"We are known for our high standards and we are able to win business based on our strong reputation for service and performance,'' he said.

Other projects the Cayman branch intend to launch next year include a Visa debit product, and the computer system `Portia' currently used by Butterfield Asset Management.

Bank of Butterfield officials were unable to say when Internet banking might be launched for the Bermuda market.