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28 February 2008
Butterfield Bank Again Named Best Developed Market Bank in Bermuda

The Bank of N.T. Butterfield & Son Limited (“Butterfield Bank”) today announced that it has been named Best Developed Market Bank 2008 for Bermuda by Global Finance magazine. This is the fourth consecutive year Butterfield Bank has won an award from Global Finance. It follows the Euromoney awards for Best Private Bank in Bermuda and the Caribbean region that were presented to Butterfield Bank in January.

As part of its annual awards, Global Finance names “Best Banks” in several developed countries across North America, Europe and the Asia Pacific/Middle East regions. Bermuda is included in the North American category. Other 2008 winners in this category are RBC (for Canada) and JPMorgan Chase (for the US).

In selecting the winners, the editors of Global Finance considered criteria including growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in
products. Analysis of these factors, along with subjective criteria, such as the opinions of equity analysts, credit rating analysts and other industry experts, yields a list of award winners that are, according to the magazine, “not necessarily the largest, oldest or most diversified in their respective markets, but rather the best”.

Joseph D. Giarraputo, Global Finance’s publisher, said of the winners, “We recognise these banks for their outstanding accomplishments… Global financial markets are difficult, and conditions in each market may have differed, but the winning banks were all noteworthy in their dedication to satisfying their customers’ needs.”


Alan Thompson, President & CEO of Butterfield Bank said, “We are very pleased to have been named the
Best Developed Market Bank in Bermuda by Global Finance for the fourth consecutive year.”

“This award is one of a string of accolades we’ve received from prestigious international publications over the last few years. It indicates that, as we celebrate our 150th anniversary in 2008, we’re the strongest we’ve ever been as an organisation. We continue to a good job delivering on the things that our shareholders and customers value; and for that, I express thanks to our employees.”

Global Finance will publish a full report on 2008’s Best Developed Market Banks in its April edition.


Note to Editors:

Butterfield Bank is Bermuda’s first and largest independent bank, and a specialist provider of international financial services. The Butterfield Bank Group offers a full range of community banking services in Bermuda, Barbados and the Cayman Islands, encompassing retail and corporate banking and treasury activities. In the wealth management area, the Group provides private banking, asset management and personal trust services from its headquarters in Bermuda and subsidiary offices in The Bahamas, the Cayman Islands, Guernsey, Hong Kong, Malta, Switzerland and the United Kingdom. The Group provides services to corporate and institutional clients from offices in Bermuda, The Bahamas, Canada, the Cayman Islands and Guernsey, which include investment and pension fund administration, asset management and corporate trust services. Butterfield Bank is a publicly traded corporation with shares listed on the Bermuda and Cayman Islands stock exchanges. Further details on Butterfield Bank can be obtained from our website at:


Media relations contacts:


Mark Johnson
Communications Manager
The Bank of N.T. Butterfield & Son Limited
Phone: (441) 299-1624
Fax: (441) 295-3878


Stuart Roberts
Senior Communications Specialist
The Bank of N.T. Butterfield & Son Limited
Phone: (441) 298-4610
Fax: (441) 295-3878




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