HSBC Bank Bermuda Limited

HSBC Bermuda is a provider of financial services in Bermuda, serving individuals, institutions and corporations locally and globally.

Financials

Total Assets (2017)
9 027.15 mln USD  (-7.48%)
Net Income (2017)
103.57 mln USD  (-21.78%)

In 2017 total assets of HSBC Bank Bermuda Limited were 9 027,15 mln USD. In 2017 the bank's net income was 103,57 mln USD.

HSBC Bank Bermuda Limited participates in deposit guarantee scheme of Bermuda. This scheme covers accounts up to 25 000 USD per bank per depositor.

HSBC Bank Bermuda Limited is a member of HSBC (United Kingdom).

Contacts

6 Front Street, HM 11, Hamilton, Bermuda
(441) 295-4000
(441) 295-7093

HSBC Bank Bermuda Limited is located in Hamilton.

Bank Identifiers

BIC (SWIFT)
BBDABMHM
Company Number
2109
Start Date
02 March 1891

Financial Positions

Total Assets (2017)
9 027.15 mln USD  (-7.48%)
Total Equity (2017)
756.50 mln USD  (-8.58%)

In 2017 total assets of HSBC Bank Bermuda Limited were 9 027.15 mln USD. Decline compared to the previous period (2016) was -7.48%. The evolution of the total assets of HSBC Bank Bermuda Limited is shown at Chart 1 below.

Total Assets of HSBC Bank Bermuda Limited.

Chart 1. Total Assets of HSBC Bank Bermuda Limited.

Recent changes in total assets of HSBC Bank Bermuda Limited and its main components are shown in Table 1.

2016 2017 % change
Cash and deposits with Central Banks 29.7 32.7 +10.25%
Financial investments 4 585.9 3 907.4 -14.79%
Loans to banks 2 614.3 2 607.6 -0.26%
Loans to customers 2 290.4 2 280.7 -0.42%
Total Assets 9 757.3 9 027.2 -7.48%
Table 1. Recent changes in total assets of HSBC Bank Bermuda Limited (mln USD).

Recent changes in total liabilities of HSBC Bank Bermuda Limited and its main components are shown in Table 2.

2016 2017 % change
Customer deposits 783.3 45.8 -94.16%
Total Liabilities 9 757.3 9 027.2 -7.48%
Table 2. Recent changes in total liabilities of HSBC Bank Bermuda Limited (mln USD).

Profit and Loss

Operating Income (2017)
162.28 mln USD  (+68.94%)
Net Income (2017)
103.57 mln USD  (-21.78%)

Recent changes in gross profit of HSBC Bank Bermuda Limited and its main components are shown in Table 3.

2016 2017 % change
Interest Income 192.8 198.7 +3.03%
Interest Charges -3.5 -4.3 +24.36%
Net Interest Income 189.4 194.4 +2.64%
Commission Income 79.9 74.9 -6.26%
Commission Charges -23.3 -24.2 +3.81%
Net Commission Income 56.6 50.7 -10.42%
Table 3. Recent changes in gross profit of HSBC Bank Bermuda Limited (mln USD).

In 2017 net income of HSBC Bank Bermuda Limited was 103.57 mln USD. Decline compared to the previous period (2016) was -21.78%. The evolution of the net income of HSBC Bank Bermuda Limited is shown at Chart 2 below.

Net Income of HSBC Bank Bermuda Limited.

Chart 2. Net Income of HSBC Bank Bermuda Limited.

Market Share and Rank (among banks in Bermuda)

Total Assets (2016)
2nd (market share 43.03%)

In 2016 HSBC Bank Bermuda Limited was ranked the 2nd largest bank in Bermuda in terms of total assets, having 43.03% of the domestic market share.

Market share of HSBC Bank Bermuda Limited (among banks in Bermuda)

Chart 3. Market share of HSBC Bank Bermuda Limited (among banks in Bermuda)

Several banks having the market shares and ranks closest to HSBC Bank Bermuda Limited are shown below.

RankNameTotal AssetsMarket Share
1 The Bank of N T Butterfield & Son Limited11103.50 mln USD48.97%
2 HSBC Bank Bermuda Limited9757.32 mln USD43.03%
3 Clarien Bank Limited1164.45 mln BMD5.14%
 

Deposit Guarantee

Deposit Guarantee
Yes (up to 25 000 USD per depositor)

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

All credit institutions operating in Bermuda are obliged to participate in Bermudian deposit guarantee scheme.

In the case of HSBC Bank Bermuda Limited failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Eligible Depositors  natural persons, small businesses
Maximum Protected Amount  25 000 USD
Paid In Currency  USD

Further Information

BIC

BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.

A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).

BIC of HSBC Bank Bermuda Limited and its components are shown in the table below.

BIC  BBDABMHM
Bank BIC Code  BBDA
Country Code  BM (Bermuda)
Location Code  HM
Branch Code  -

Company Registration Number

Company Registration Number is a distinctive code issued upon registration of a new company. This code can be used to find data about the company in a national company register.

Company Number  2109

European Presence: 20 banks in 17 countries

HSBC Bank Bermuda Limited operates under the brand name HSBC Bank. This banking brand has presence in the following European countries and selected dependent territories of the European countries:

Belgium

Bermuda

  •  (this bank) HSBC Bank Bermuda Limited (Hamilton)

Czech Republic

France

Guernsey

Ireland

Isle of Man

Italy

Jersey

Luxembourg

Malta

Netherlands

Poland

Spain

Switzerland

Turkey

United Kingdom

Defunct Banks: 3 banks in 2 countries

The following banks operating under HSBC Bank brand name has been recently closed down:

Cayman Islands

Jersey