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Butterfield Bank yesterday reported second-quarter profits of $29.8 million — up $6.5 million on the same period last year. The figures are equivalent to a 27.7 per cent increase in profit quarter on quarter and diluted earnings per share of 5 cents,...

The Bank of Butterfield’s outlook has been upgraded to positive from stable by ratings agency Standard & Poor’s. And S&P said the likelihood of the overall banking industry country risk-assessment score for the island improving was “increasing.” The ...

A managing director of the US-based global financial services and private equity firm The Carlyle Group has joined the board at Bank of Butterfield. James Burr, a managing director at The Carlyle Group, has become a non-executive director of the bank...

Fitch Ratings has affirmed Butterfield Bank’s viability rating at “bbb-” and says it expects the bank’s earnings to improve in the coming years. Fitch has a positive view on the Butterfield’s “strong market position, liquid balance sheet, and solid ...

NEW YORK (Bloomberg) — Carlyle Group LP’s Olivier Sarkozy, the head of the private-equity firm’s financial services group, has resigned, people with knowledge of the move said. Mr Sarkozy, the half-brother of former French President Nicolas Sarkozy, ...

The deputy managing director of Butterfield Bank’s Cayman operation has stepped up to the top job. Michael McWatt has taken over as managing director from Conor O’Dea, who has retired from the role. Michael Collins, CEO of the Butterfield Group, said...

Butterfield Bank is looking into the possibility of listing its shares on a US stock index in order to increase its ability to raise capital and provide more liquidity for shareholders. In addition, the bank is mulling the possibility of placing its ...

Butterfield Bank has successfully transitioned former HSBC Bermuda employees, their clients and accounts to its operations following the bank’s acquisition of the Bermuda Trust Company and HSBC Bermuda’s private banking investment management operatio...

Butterfield Bank’s profit for the first three months of the year was $26.8 million, down $1.2 million year-on-year. However, the bank’s core earnings — which strips out one-off items — were $36 million, an improvement of $7 million compared with the ...

The Bank of Butterfield has been named best bank in Bermuda by US-based magazine Global Finance for the second year in a row. Michael Collins, the CEO of Butterfield, said: “It is an honour to once again have been included in Global Finance’s listing...

Butterfield Bank has set aside $4.8 million to pay potential fines as a result of a US investigation into tax evasion. And the bank’s financial report for last year said that any fines levied on the bank could be even higher. The report said: “Manage...

Bermuda’s banks are upgrading their debit and credit cards in line with changing security standards elsewhere in the world. So-called “chip-and-pin” cards are on the way for customers of HSBC Bermuda, while those who bank with either Bank of Butterfi...