Tag: Butterfield Bank
Butterfield acquires trust arm of Deutsche Bank
(CNS Business): Butterfield has entered into an agreement to acquire Deutsche Bank’s Global Trust Solutions (GTS) business in an undisclosed deal that excludes the US operations, the bank said in a press release Wednesday. The deal is subject to regulatory approvals but once it is complete, Butterfield will take over the ongoing management and administration […]
Bank increases loan but not deposit rate
(CNS Business): Following the 25 basis point increase in the US Federal Funds Rate earlier this week, Butterfield Bank has announced an adjustment in its US and CI dollar prime lending rates for mortgages, consumer loans and commercial loans from 3.75% to 4% beginning today Friday, 17 March. But the bank stated in a short […]
Local bank raises interest rates on loans
(CNS Business): Butterfield Bank (Cayman) has announced plans to adjust its loan rates in response to the US Federal Funds 25 basis point increase. The KYD and USD prime rates for residential mortgages, consumer loans and commercial loans will increase from 3.50% to 3.75%, the bank announced soon after news broke of the first interest […]
Butterfield Bank in black with positive outlook
(CNS Business): The Chief Executive Officer at Butterfield Bank, Michael Collins, said the bank was continuing to see the positive financial impact of acquisitions in trust and wealth management in its offshore markets such as Bermuda, Cayman and Guernsey, as the Bermuda-based bank released its second quarter results. “As we focus on jurisdictions in which […]
Butterfield reports increase in earnings but fall in profit
(CNS Business): Butterfield Bank reported an increase in its core earnings for the first quarter of this year of more than 24% but saw its net income decline by $1.2 million, or 4.3%, compared to the same time last year. During the first three months of the year, bank officials said asset quality was strong […]
Cayman operations boost Butterfield’s earnings
(CNS Business): The Chief Executive Officer of Butterfield, Michael Collins, said the bank was encouraged by improving economic conditions last year, which has resulted in a 6% increase in deposits, and a boost to core earnings of over $7.5 million, according to figures in the bank’s annual report. Butterfield’s net income last year was still down […]
O’Dea retires from bank’s top job
(CNS): After more than 26 years at Butterfield Bank (Cayman) Ltd and over 19 as the managing director, Conor O’Dea is retiring from his executive roles at the bank in April this year. He will then become the non-executive chairman of the board, according to a release from the bank. Sophia Harris will be stepping down to make way […]
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