nine month period ended March 31, an increase of 29 percent over the same period in the previous financial year.

Revenues grew by 16.5 percent to $227.1 million during the nine month period.

For the three month period ended March 31, the bank had a profit of $16.1 million, or 80 cents per share, a gain of 14 percent compared to $14.1 million, or 71 cents per share, earned in the same third quarter period 1997.

Revenues during the three month period grew 7.4 percent to $74.3 million compared to third quarter 1997.

"Fee revenue grew by 19 percent with gains in all of our business lines,'' Bank of Bermuda Chief Financial Officer Edward Gomez said in commenting about the nine month results. "In particular, corporate trust and foreign exchange showed substantial increases for the period, up by $16 million compared with the same period in the prior year. Growth in interest earnings reflected continuing volume and margin improvements in all geographic regions. Higher expenses were mainly comprised of personnel costs required to support our international business and remained in line with the bank's operating plan.

President and Chief Operating Officer Henry Smith said results from the Far East had "slowed somewhat'', a reflection of the decline in Asian markets.