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Banks’ ratio of Bermuda dollar loans to deposits plunged in 2021 as personal savings increased and the amount being lent dropped

Butterfield Bank has ruled out an interest rate increase after the US Federal Funds Rate was raised 25 basis points yesterday

HSBC Bermuda will permanently shut its Church Street branch at the end of June – and until then it will be used for by-appointment safe-custody services only. HSBC said staff working there would be redeployed to support the Harbourview Centre, St Geo...

The Bank of N.T. Butterfield & Son Limited has declared net profits for the year to December 31 of $162.7 million, up 10.5 per cent from 2020’s $147.2 million. The result came after net income in the fourth quarter of $41.7 million. Michael Collins, ...

HSBC Bermuda and Planet Math are launching the HSBC Youth Financial Literacy Program with 120 of Bermuda’s students, across four middle schools. As other schools are added, the programme will reach out to wider age groups and offer a broader range of...

More than a month into the new year, Bermuda’s financial institutions are still considering what to do about replacing Libor, a major component scheduled for retirement at the end of 2021 from its use in the setting of interest rates. The Bermuda Ban...

Applications are now open for Butterfield’s Bermuda Undergraduate Scholarship award, which has been increased by $5,000 to $30,000. The scholarship is tenable for up to four academic years and provides financial assistance to outstanding students who...

The number of digital asset businesses registered in Bermuda could double in the next six months, according to David Burt, the Premier. Mr Burt added that Bermuda is “gaining momentum" in the digital asset business sector, and that it was essential ...

Neville Grant has been appointed chief executive officer of Bermuda Commercial Bank. The appointment was made at this month’s meeting of the company’s board of directors. Following a “successful transition period”, Mr Grant will step into the CEO...

The former leader of the nation of Georgia told a Bermuda court yesterday that during the fall of the Soviet Union he had made a fortune so large that he became one of the world’s richest men. But he trusted Credit Suisse implicitly with a billion do...