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Butterfield Bank will shut down the bank accounts of the Bermuda Financial Network on Thursday, in effect putting the 26-year-old company out of business. It will mean the end of Easy Pay, Bermuda’s first online money transfer service (2000/2001) whi...

The Bank of N.T. Butterfield & Son Limited is buying trust business from one of Switzerland’s largest banks. An announcement datelined out of Zurich, Hamilton and Vaduz, said Credit Suisse has signed two agreements to sell different parts of the ...

Clarien will adjust its Bermuda dollar base lending rate by 50 basis points (0.50 per cent) on September 1, following the US Federal Reserve rate increase on July 27, the bank has announced. It will mean that Clarien’s BMD$ base lending rates for per...

HSBC Bermuda will be raising its base lending rate on residential mortgages and consumer loans for the first time since 2019. Effective October 4, it will raise its base rate for Bermuda dollar residential mortgages and consumer loans by 0.50 per ce...

Butterfield Bank’s increased interest rates on loans by half a percentage point comes with a warning that more increases are likely to come soon. The bank absorbed a third of the 75-basis-point increase in the target range of the US federal funds rat...

The Bank of N.T. Butterfield & Son Limited increased interest rates on loans by half a percentage point (0.5 per cent), absorbing a third of the rise of the 75-basis point increase in the target range of the US Federal Funds Rate. The bank said the c...

The Bank of N.T. Butterfield & Son Limited has issued a warning to shareholders with regard to the offer by New York Stock and Bond LLC to purchase up to 50,000 of Butterfield’s ordinary shares, or approximately 0.1 per cent of shares outstanding, at...

Legislation passed by MPs in the House of Assembly on Friday is expected to protect financial services customers. The Bermuda Monetary Authority Amendment Act 2022 will mean that the BMA’s principal 1969 Act will include among its main objectives an ...

Bankers last night reacted to the direct hit they took from government on Friday when David Burt, the Premier and Minister of Finance raised alarm on the floor of the House of Assembly at the escalating rise in bank fees and charges. The Premier laid...

The government has threatened Bermuda’s banks to rein in escalating bank fees and globally-abnormal bank charges, or face government-imposed limits. And a near 10 year old Progressive Labour Party promise to crack down on banks is a step closer to re...