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Proceeds will be used to partially fund the acquisition of 40 new narrow gauge and 40 new wide gauge trains

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...

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...

Desperation could lead people to get in over their heads with fast-cash lenders, an MP has warned. Leah Scott, the deputy Opposition leader, said that people who were struggling financially were attracted by personal loans that might become difficult...

Court summons were issued for 26 people on a single day after they racked up thousands of dollars worth of debts to an unlicensed fast-cash lender. Lawyers for Caribcash Bermuda filed a string of writs against people who it was claimed had defaulted ...

Bermuda dollar loans lent out by banks have hit a seven-year low, according to figures from the Island’s financial regulator. The Bermuda Monetary Authority’s latest Regulatory Update, released last week, shows Bermuda dollar-denominated loans, advan...

A Bermuda firm is to offer payday loans. Gold Standard — which already buys unwanted jewellery and offers secured loans — said the move was in response to customer demand. Business co-owner Matthew Mello said that qualifying customers would be able t...

Home owners who live in listed buildings are being encouraged to take advantage of interest-free loans for renovations and repairs. Up to $100,000 per property per year is available under the scheme, which is not taken advantage of as much as it cou...