Bank of NT Butterfield & Son Ltd (N:NTB)
Business Focus: Commercial Banks
| Sector: Financials | Industry: Banks |
| Company Contact | |
| Address: | 65 Front Street HAMILTON HM 12 |
| Tel: | 1-441-2993816 |
| Website: | https://www.butterfieldgroup.com |
| IR: | See website |
| Key People | ||
| Michael W. Collins Chairman of the Board, Chief Executive Officer | Bri Hidalgo Group Head of Compliance and Operational Risk | Michael Schrum President, Group Chief Risk Officer, Director |
| Craig Bridgewater Group Chief Financial Officer | Michael Neff Chief Operating Officer | Shaun Morris General Counsel, Group Chief Legal Officer |
| Jody Feldman Managing Director, Bermuda | Richard Saunders Managing Director - Channel Islands and the UK | Andrew Burns Group Head of Human Resources | Kevin Dallas Group Head of Marketing and Communications |
| Business Overview |
| The Bank of N.T. Butterfield & Son Limited (the Bank) is a full-service bank and wealth manager. The Bank operates its business through three geographic segments: Bermuda, the Cayman Islands, and the Channel Islands and the United Kingdom (UK), where its principal banking operations are located and where it offers specialized financial services. The Bank offers banking services, comprised of retail and corporate banking, and wealth management, which consists of trust, private banking, and asset management. In the Bermuda and Cayman Islands segments, the Bank offers both banking and wealth management. In the Channel Islands and the UK segment, the Bank offers wealth management and residential property lending. The Bank also has operations in the jurisdictions of The Bahamas, Canada, Mauritius, Singapore and Switzerland, which are included in its Other segment. The Bank offers a set of lending products and services including residential mortgage lending, automobile lending, and others. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Bank of NT Butterfield & Son Ltd interest income increased 37% to $545.6M. Net interest income after loan loss provision increased 6% to $362.5M. Net income increased 5% to $225.5M. Net interest income after loan loss provision reflects Bermuda segment increase of 14% to $189.2M, Cayman segment increase of 12% to $127.8M, Net Interest Margin - Total - % increase of 16% to 2.8%. |
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