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Bermuda’s banks say they will work with customers who struggle financially in the event of coronavirus-related economic disruption. The Bermuda Bankers Association said last night that its members had been “very active in preparing for the potential ...

Bermudian Michael J.A. Darling has been promoted to managing director at Morgan Stanley Wealth Management in New York. Mr Darling, 59, of Warwick, runs the Island Group, an experienced group having more than 115 years of combined industry experience,...

Dear Sir, Since HSBC changed the format on its internet banking site, you cannot transfer monies overseas. The transfer goes through, you are charged $15 and then it gets returned back because of the (Swift?) code being incorrect. I have always sent...

Bank customers with Bermuda dollar accounts will have up to $25,000 of their money protected should their local bank collapse. In such circumstances, they will receive compensation through the Bermuda Deposit Insurance Corporation, providing they ful...

Nearly 80 per cent of banking CEOs see skills shortages supporting digital transformation as a threat to growth prospects. Their ability to innovate effectively and provide a winning customer experience is suffering as a result. These are the findi...

Some borrowers in Bermuda with residential mortgages, commercial loans or corporate loans will pay more interest after the US Federal Reserve raised interest rates. In response to the quarter percentage point hike in the US, Butterfield Bank said it...

MPs approved a new type of banking licence to cater to Bermuda’s fintech industry last night. David Burt, the Premier and Minister of Finance, told the House of Assembly that the restricted licence would allow fintech companies access to a Bermuda ba...

An HSBC customer whose money went missing after he tried to transfer it overseas has got his cash back. Cleon Scotland, a former St George’s Cup Match and Bermuda cricketer, saw red after HSBC Bermuda “lost” $4,175 of his money and told him it would ...

A bank that has allegedly lost more than $4,000 of a customer’s money has told him it will take six to eight weeks to investigate where it went. Cleon Scotland, the former St George’s Cup Match and Bermuda cricketer, said he was still without his fun...

Clarien Bank today donated $91,000 to nine Bermuda charities as part of its annual giving programme. The donations were made through The Clarien Foundation, the bank’s charitable trust. Michael DeCouto, Clarien Bank’s chief digital and marketing offi...

A company owned by Jamaican billionaire Michael Lee-Chin’s Portland Holdings is set to take a majority stake in the parent company of Clarien Bank. If the transaction is approved, it will be the third time in four years that the majority shareholding...

The outlook for Bermuda’s banking system is stable with improving asset quality, strong capital buffers and sound liquidity, which balances profitability challenges, Moody’s Investors Service has said in a new report. The outlook expresses the credi...