Butterfield Bank has been named Bank of the Year 2021 by The Banker, a Financial Times publication.

“Congratulations to the Bank of NT Butterfield & Son for winning The Banker’s Bank of the Year award for Bermuda,” said the editor of The Banker, Joy Macknight. “The bank took great care to address the challenges presented by the Covid-19 pandemic, easing the financial impact on its customers by reducing fees and deferring loan repayments. It successfully leveraged technology to deliver greater personalisation, as well as increase the functionality and security of its mobile services.”

Each year, the UK-based periodical selects banks in more than 100 countries to receive its awards. In making their selections, The Banker’s global editorial team consider not only a bank’s financial performance but also strategic initiatives, use of technology and service delivery channels, and, most recently, measures taken in response to Covid-19. A full listing of Bank of the Year 2021 Award winners will be published in the December edition of The Banker.

Butterfield has won the award previously.

Michael Neff, Butterfield’s managing director of Bermuda and international wealth, was proud to win the recognition once again.

“We are very proud The Banker has chosen to recognise us once again, particularly in a year that has seen ongoing challenges as a result of the pandemic,” he said. “Our focus at Butterfield has been on supporting clients, colleagues and the wider community, and our dedicated team has been committed to delivering exceptional service across all of our banking platforms. To ensure we continue to improve, our plans include ongoing investment in our technology infrastructure and software solutions. I congratulate the team and thank them for their hard work, and also thank our clients for their valued loyalty.”

Butterfield was also awarded Best Private Bank 2022 in both Bermuda and the Cayman Islands by Global Finance, a leading corporate finance publication headquartered in New York. Global Finance’s annual Private Bank Awards recognise banks that best serve the specialised needs of high net worth individuals as they seek to enhance, preserve and pass on their wealth.

“Our private banking team continues to differentiate itself, offering clients personalised financial plans and services including asset management, which sees independent reviews regularly place our performance in the 1st or 2nd quartile, and trust,” Mr Neff said.