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A Supreme Court judgment against a Bermuda subsidiary of banking giant Credit Suisse will cost them some $600 million, the bank said in its first-quarter financial report today. The judgment relates to life insurance policies of a client of Credi...

HSBC Bermuda has become the first island bank to offer web chat to customers, connecting them directly to agents via the HSBC website and internet banking platform. Web chat allows HSBC customers to initiate a chat to ask general questions or get he...

The hits just keep on coming for Credit Suisse, with an announcement of an anticipated first-quarter loss for the bank, after taking a $210-million charge for exposure to the Russia-Ukraine war. This, some weeks after stating that it had to reserve s...

A jurisdictional resolution as to where to settle internal disputes at HSBC Holdings plc, which was to be voted on at the bank’s annual meeting this month, has now been put on hold, according to a filing with the Bermuda Stock Exchange. Resolution 17...

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...