RF Bank & Trust sees strong economic outlook for Cayman
RF Bank & Trust expects Cayman’s economy to return to its 2019 level by next year.
David Slatter, RF’s vice president of investment management, projected strong gross domestic product for Cayman between 2022 and 2023 supported by good fiscal policy and a robust construction sector at the RF Investor Forum, held virtually on Tuesday, 25 Jan.
Similarly, the global markets are expected to have strong but slower GDP growth in 2022 with US interest rates forecast to rise and anticipated challenges from headline inflation, he said.
For the investment bank’s funds this means that “currently the objective is not to buy indices but to use active asset managers who have a strong track record of stock picking,” Slatter said. “We think we’ve done a good job of selecting those managers and we think our funds will outperform the market as a whole.”
Slatter predicted that the markets are “going to be a little bumpy over the next probably three to six months”. But because RF’s funds have a large cash position they would be able to take advantage of buying opportunities as they arise, he said.
Guest speaker Steven Brod, CEO of Crystal Capital Partners, also presented during the forum, introducing upcoming private equity trends and opportunities. RF, in partnership with Crystal, will be providing access for institutional investors to international private equity funds that include some well-known and established brands such as SpaceX, DoorDash and Instacart.
Butterfield opens scholarship applications for 2022
Butterfield is now accepting applications for its Butterfield Undergraduate Scholarship in the Cayman Islands. Each year, the scholarship awards US$30,000 to an outstanding Caymanian student who is pursuing a first college or university degree on a full-time basis overseas. Eligible students are invited to apply by completing an application form available on Butterfield’s website.
“This scholarship has been running for nearly three decades now and it is testament to Butterfield’s continued commitment to support our local community and invest in its future,” said Andrew Burns, Butterfield’s group head of human resources. “Later this year we will also be recruiting for our graduate trainee programme and summer student employment programme, both of which provide young people in Cayman with an opportunity to gain professional experience and build industry connections as they look to progress their careers.”
The scholarship was established in 1993 in celebration of Butterfield’s 25th anniversary in the islands. Tenable for up to four academic years, the criteria for selection include academic excellence, community involvement and sporting attainments, financial need, and a candidate’s demonstrated ability to lead.
The application deadline is Friday, 25 March 2022.
For more information on scholarships and other career opportunities, visit www.butterfieldgroup.com/careers.
Scotiabank introduces instalment plans for credit card purchases
Scotiabank has launched SelectPay, a payment programme that allows customers the ability to convert large credit card purchases into fixed, flexible and affordable monthly instalments.
After making a credit card purchase, customers can log into the Scotiabank app, or online banking, immediately after a purchase is posted and select their Scotiabank credit card. Tap the ‘SelectPay’ icon, choose any eligible purchase of US$250 or more, review the summary and submit.
“Customers will be charged lower interest than their usual credit card rate and will have monthly payment options to choose from ranging from three, six, nine and 12 months. This will be a great offer for emergency, unplanned or any large expenses customers may have,” said Chervain Stuart, senior manager retail banking, Scotiabank Cayman.
Scotia SelectPay is only available to primary credit card holders with their account in good standing, and the flexible payment option must be set up within the statement period in which the purchase was made.
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