The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Bermuda Best Bank: Butterfield Bank

Bahamas I Bardados I Bermuda I Dominician Republic I Jamaica I Trinidad & Tobago I Costa Rica I El Salvador I Guatemala I Honduras I Nicaragua I Panama I Argentina I Bolivia I Brazil I Chile I Colombia I Ecuador I Mexico I Paraguay I Peru I Uruguay I Venezuela

Assets at Butterfield Bank, one of the oldest financial institutions in the Caribbean, have grown to $9.7 billion, reflecting increasing customer deposits that reached $8.5 billion at the end of March this year. With a swelling loan portfolio of $3.2 billion, the bank’s balance sheet is highly liquid with a loan to customer deposits ratio of almost 40%. Earnings jumped by a fifth to $109 million in 2005. The banking group, which also operates in the UK, achieved return on equity of 26.3% in the first quarter, meeting a promise to deliver ROE of at least 20% a quarter.

Revenues in the Bahamas and in Barbados have grown in particular because of a booming wealth management business and demand for residential mortgages. The bank’s fund administration business in Bermuda grew its assets by more than half in the first three months of the year.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree