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Economy and Banking Sector of Bermuda

Major Banks of Bermuda

Rank
1
Total Assets
10,773.20 mln USD  (-0.06%)
Market Share
52.31 %
Rank
2
Total Assets
8,076.84 mln USD  (-10.53%)
Market Share
39.22 %

#1: The Bank of N T Butterfield & Son Limited

The Bank of Butterfield & Son is a universal community bank encompassing retail and corporate banking and treasury activities and a provider of specialised international financial services. In the wealth management area, the bank provides private banking, asset management and personal trust services. Butterfield also provides services to corporate and institutional clients which include asset management and corporate trust services.

The Bank of N T Butterfield & Son Limited is the 1st largest bank in Bermuda in terms of total assets. In 2018 its total assets were 10 773,20 mln USD, providing the bank with the market share of 52.31%. In 2018 the bank's net income was 195,20 mln USD.

The Bank of N T Butterfield & Son Limited is rated by Fitch, Moody's. Long-term credit rating assigned to the bank by Fitch is BBB (good credit quality). Long-term credit rating assigned to the bank by Moody's is A3 (upper medium grade). The Bank of N T Butterfield & Son Limited participates in the deposit guarantee scheme of Bermuda. This scheme covers accounts up to 25,000 USD per bank per depositor.

#2: HSBC Bank Bermuda Limited

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

HSBC Bank Bermuda Limited is the 2nd largest bank in Bermuda in terms of total assets. In 2018 its total assets were 8 076,84 mln USD, providing the bank with the market share of 39.22%. In 2018 the bank's net income was 139,04 mln USD.

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

See Also