Skip Ribbon Commands
Skip to main content
 
 
 

 NewsList

 
 

 Content Editor ‭[1]‬

 

News Releases

Read about the latest news
22 January 2008
Butterfield Bank Cuts Bermuda Dollar Base Rate by 0.25% to 5.00%

Butterfield Bank announced today that it is reducing its Bermuda Dollar Base Rate by 0.25%, to 5.00%, with effect from Tuesday, 22 January 2008.


“We are pleased to pass on the benefits of lower US interest rates to our customers who borrow from us at rates linked to the Bank’s Bermuda Dollar Base Rate,” said a spokesman. “We are also reducing our US Dollar Prime Rate to 6.5% effective the same date.”


The Bank is leaving its Bermuda Dollar Strata Savings rates unchanged for the time being.

Butterfield Bank will also be giving notice to customers with variable rate mortgages of a decrease in their interest rate by 0.25%, to take effect from Tuesday, 22 April 2008.

 

Customers with loans directly linked to the Bank’s Bermuda Dollar Base Rate will benefit from a 0.25% reduction in their borrowing immediately.

 

Customers with personal loans and mortgages at fixed rates of interest will be unaffected by the change.

 

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: www.butterfieldbank.com.

 

Media Relations Contacts:


Mark Johnson
Assistant Vice President
The Bank of N.T. Butterfield & Son Limited
Phone: (441) 299 1624
Fax: (441) 295 3878
E-mail: markjohnson@bntb.bm

 

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

 

 JurisdictionDD

 

Visit Our Other Sites

 

 Content Editor ‭[3]‬

 
 

 Content Editor ‭[2]‬