A Financial Times affiliate has named Butterfield the bank of the year in Bermuda, for the 12th year in a row.

International financial affairs publication The Banker announced the accolade today.

The award recognises lenders that have grown while retaining a solid balance sheet, improved the quality of their service, invested in technology and considered their role within their local communities.

Butterfield’s Bermuda managing director, Jody Feldman said the team’s hard work made the achievement possible.

He said: “This year, the award highlighted Butterfield’s efforts as the first card issuer to introduce Google Pay and the only lender to have enacted a full merchant acquiring agreement with American Express Global Network Services.”

Earlier this year, Butterfield was also named Bermuda’s Best Private Bank by The Banker/PWM and Global Finance magazine.