The Bank of N.T. Butterfield & Son Limited Surveillance Report
Company Profile
With $13 billion in assets, Bermuda-based The Bank of N.T. Butterfield & Son (NYSE: “NTB” or “the bank”) traces its heritage to 1758 and was incorporated as Bermuda’s first bank in 1904. NTB operates in four key banking markets: Bermuda, Cayman, the Channel Islands (Guernsey and Jersey), and Central London.
Core business lines consist of community banking (retail, private and commercial banking, and asset management), corporate banking, and trust and international wealth management.
Retail and commercial banking have been historically conducted in Bermuda and Cayman where NTB has consistently maintained leading deposits shares of about 30%. In the Channel Islands, trust & funds administration and select banking services were initially offered, as a product of acquisitions; however, the bank continues to introduce traditional banking products and other services. Residential loans are offered in select high-end London…
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