Bermuda Commercial Bank Limited

 (3.6; 7 ratings)
3.6 7
Business Focus
universal banking, international banking

Bermuda Commercial Bank Limited was formed in 1969 as a local bank to offer retail banking services in Bermuda. In 1993 the bank became the only Bermudian bank focused on serving local and international business community as well as high net worth clients.

Services

estate planning and trust administration
corporate administration
private banking and wealth management
business banking
global custody and brokerage

Clients

high net worth individuals
family trusts and estates
business owners
corporations
trustees

Area Served

BMBermuda
internationally

Account Opening

Becoming a client of Bermuda Commercial Bank Limited can be done in a few steps:

1.
Submit online application

Due to regulatory requirements Bermuda Commercial Bank Limited performs KYC/AML checks when establishing business relationships with a new client. While onboarding a private individual Bermuda Commercial Bank Limited will ask him/her to provide the following documents: passport; utility bill or bank statement. For corporate clients Bermuda Commercial Bank Limited will ask to provide corporate documentation as well as information about controlling persons. Bermuda Commercial Bank Limited may request additional documentation or information depending on the case.

Ways to Bank

Bermuda Commercial Bank Limited delivers its products and services through both direct and indirect channels, namely:
branch
online banking
mobile app

Financials

Total Assets of Bermuda Commercial Bank Limited
Net_income of Bermuda Commercial Bank Limited
Market Share of Bermuda Commercial Bank Limited
Total Assets (2019)
460.46 mln USD  (-4.63%)
Net Income (2019)
-8,312,630.00 USD

Bermuda Commercial Bank Limited is the 4th largest bank in Bermuda in terms of total assets. In 2019 its total assets were 460,46 mln USD, providing the bank with the market share of 1.92%. In 2019 the bank's net income was -8,31 mln USD.

Credit Ratings

Fitch: BB+
AAA
AA+, AA, AA-
A+, A, A-
BBB+, BBB, BBB-
BB+, BB, BB-
B+, B, B-
CCC, CC, C, RD, D
Moodys: -
Aaa
Aa1, Aa2, Aa3
A1, A2, A3
Baa1, Baa2, Baa3, Baa4
Ba1, Ba2, Ba3
B1, B2, B3
Caa1, Caa2, Caa3, Ca

Bermuda Commercial Bank Limited is rated by Fitch. Long-term credit rating assigned to the bank by Fitch is BB+ (speculative).

Deposit Guarantee

Protected Amount
up to 25,000 USD
Guarantee Fund
Bermuda Deposit Insurance Corporation (BDIC)
Covered Depositors
individuals
SMEs and charities registered in Bermuda
Covered Accounts
current and deposit accounts in BMD (Bermudian dollar)

Bermuda Commercial Bank Limited participates in the deposit guarantee scheme of Bermuda. This deposit guarantee scheme applies to current and deposit accounts in BMD (Bermudian dollar) made by individuals, SMEs and charities registered in Bermuda and covers up to up to 25,000 USD per bank per depositor. Bermuda Commercial Bank Limited is a member of Bermuda Deposit Insurance Corporation (BDIC) and makes its contributions into it.

Contacts

34 Bermudiana Road, Hamilton, Bermuda
(441) 295-5678
(441) 295-8091

Bermuda Commercial Bank Limited is located in Hamilton.

Bank Identifiers

BIC (SWIFT)
BPBKBMHM
LEI
11FPWBB1JSKFHLRO8E15
Company Number
1404

Bank Supervision

Supervised By
Bermuda Monetary Authority
Reference Number
1404

Bermuda Commercial Bank Limited is authorized and supervised by the Bermuda Monetary Authority (reference number 1404).

Bank History

Start Date
15 April 1969

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