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Butterfield Bank to forfeit $4.9M following US tax-evasion probe

Butterfield Bank agreed to forfeit almost US$4.9 million in a non-prosecution agreement with the United States Department of Justice, after admitting it helped US taxpayers evade paying taxes via its Cayman Islands and Bermuda banks.

Cayman biggest contributor to Butterfield’s full year earnings

Butterfield ended the year with a solid fourth quarter as Cayman contributed higher earnings than Bermuda to the banking group’s annual results for the second consecutive year.

Butterfield staffer tests positive for COVID-19

One of Butterfield Bank's employees has tested positive for COVID-19, the bank stated in a press release on Tuesday evening.
Butterfield Bank

Butterfield: First-quarter profit down but in ‘strong position’ to deal with COVID-19 crisis

Butterfield Bank has said its capital and liquidity profile remains strong after it has faced the headwinds from COVID-19 in the first quarter of the year.

Ask the Experts roundtable: Financial planning

The topic of money is top of mind for many during these times where COVID-19 prevention measures have shut down down businesses and left many unemployed.

Butterfield donates to Kiwanis and Meals on Wheels

Butterfield Bank is donating $15,000 each to the Kiwanis Club of Grand Cayman and Meals on Wheels as they continue to provide meals.
Butterfield Bank

Butterfield suspends changes to credit card rates and fees

Butterfield Bank advised customers in Cayman Thursday that previously announced changes to credit card rates and fees, which were to have taken effect on 31 March, have been suspended until further notice.
Butterfield Bank and other financial institutions are offering mortgage relief to customers impacted by the coronavirus crisis.

Banks offer mortgage relief amid crisis

Butterfield, Cayman National and RBC Royal Bank are implementing measures to provide financial relief to clients impacted by the COVID-19 health crisis.
Butterfield Bank

Butterfield restructuring shifts jobs to Nova Scotia

Butterfield Bank is moving 22 jobs from Bermuda and Cayman to its support centre in Halifax, Nova Scotia, as part of a restructuring exercise to cut costs.
Butterfield Bank

Butterfield Bank reports ‘record profitability’ in 2018

Butterfield Bank ended 2018 on a high with fourth quarter net income of $50.9 million or $0.92 per share, compared to $50.4 million in the third quarter of 2018 and $40.3 million in the fourth quarter of 2017.

Six Cayman retail banks install automated clearing house

Six major Cayman banks have come together in a partnership to install an automated clearing house that will ease the transfer of electronic funds.

EDITORIAL – Butterfield Bank: A half-century of service to Cayman

Congratulations to Butterfield on its “golden” anniversary in the Cayman Islands. Here’s to your next 50 years.

Local athletes to go the distance for CCMI

With the fall race season in full swing, two local athletes, Rotarians Chris Bailey and Derek Haines, are making final preparations to go the distance for the Central Caribbean Marine Institute.

Butterfield scholarship recipient will study medicine

Butterfield Bank (Cayman) Ltd. 2017 Undergraduate Scholarship recipient Arin Broderick will begin her studies as an undergraduate at Boston University in Massachusetts in January 2018.
An aerial view of the business area of downtown George Town, Grand Cayman

Business in brief: EisnerAmper celebrates 10 years in Cayman

Accounting, auditing and advisory firm EisnerAmper Cayman celebrated its 10th anniversary in the Cayman Islands at The Westin Grand Cayman last week.

Butterfield to refund currency fees on CI debit charges

Some Butterfield Bank customers who have inadvertently been charged foreign transaction fees on purchases made with newly issued debit cards will be reimbursed for the additional charges, bank officials said Friday.

Customer confusion as Butterfield replaces debit cards

Butterfield Bank says it has added staff to its call center to deal with customer issues as it replaces all its Visa debit cards with new MasterCard bank cards.

Butterfield reports second quarter profit

Butterfield Bank has announced core earnings for the second quarter of $32.1 million, an improvement of $4.3 million compared to $27.8 million earned in the same quarter a year ago.

Auditions open for Summer Arts Intensive

Aspiring actors, dancers and musicians are invited to audition for Cayman National Cultural Foundation’s Young at Arts Summer Theatre Arts Intensive, which trains young artists in the practical disciplines of performing arts.

Business in brief: Professional accountants’ group has new brand

The Cayman Islands Institute of Professional Accountants celebrated the official launch of CIIPA last week with more than 70 members, government representatives and members of the financial services industry.

Credit card fraudsters attempted almost 400 ATM withdrawals

Five people who conspired to defraud local banks attempted to use cloned credit cards almost 400 times within a four-day period, Crown counsel Toyin Salako said in Grand Court on Tuesday.

Butterfield Bank discloses possible US$4.8M payment

The Bank of N.T. Butterfield & Son Ltd. has made provision for the payment of US$4.8 million, recorded during its financial year which ended Dec. 31, 2015, against the possibility that it could be required to make a settlement payment as the result of an ongoing U.S. federal investigation into tax evasion.

Butterfield sees ‘improved economic conditions in all markets’

Butterfield Bank reported 2015 core earnings of $113.9 million, a slight improvement of $7.5 million over 2014.

Get your green on for the Irish Jog

Runners have just over a month to dig out their favorite leprechaun running shoes and prepare themselves for the St. Patrick’s Day 5K Irish Jog on March 17.

Butterfield managing director to retire

Conor O'Dea, president, chief operating officer and managing director of Butterfield Bank Cayman, will retire from his executive roles on April 26, the bank...

CarePay trial: Prosecutors detail payments to Watson from AIS-CarePay account

Attempting to prove Cayman Islands businessman Canover Watson personally benefited from the CarePay hospital patient swipe-card contract, Crown prosecutors on Monday detailed a number of payments made to Watson or his relatives from the bank account set up to handle profits from that contract.

Cayman's top sporting events draw enthusiastic crowds

A look at some of Cayman's most popular sporting events of 2015.

Cayman business in brief

Only 58 percent of hedge funds deliver positive returns; Tortuga obtains license to export rum to the US; Appleby advised Fosun on acquisition of Ironshore Insurance; Charities featured on Butterfield roundabout

Cayman business in brief

Cable and Wireless and Manchester United team up; Travers Thorp Alberga merges with Orion Law; The Banker names Butterfield ‘Bank of the Year’; PwC moves to Camana Bay

Workshop set for micro and small businesses

Micro and small businesses are invited to a free workshop, “Financing Options for Micro and Small Businesses,” at 5:30 p.m. Wednesday at the Chamber of Commerce in Governors Square.

Cayman Islands athlete warms up to marathon in Antarctica

Local runner Teresa Strad ran the race of a lifetime in Antarctica. Local runner Teresa Strad ran the race of a lifetime in Antarctica.

CarePay project costs 'increased massively'

The proposed costs of a public hospital patient swipe-card project increased by as much as US$3.5 million after bid documents for the deal were submitted to former Cayman Islands Health Services Authority Board chairman Canover Watson, Crown prosecutors alleged Tuesday.

Local Canadians support Trudeau election

Canadians in the Cayman Islands generally welcomed recent election results there, sweeping away nine years of conservative politics and policies under outgoing Prime Minister Stephen Harper.

Runner will chill out at Antarctica race next month

Teresa Strad has never run a half-marathon, but she will soon compete in a most unusual – and chilly – one, in Antarctica.

Business in brief

Crestbridge to open office in Cayman; Butterfield sponsors National Gallery exhibition; anf Hedgeweek names Mourant Ozannes best Offshore Law Firm

Cayman community rallies around Dominica

For about three days last month, Martin Royer did not know what had happened to his mother, brother, sister and other relatives on the small eastern Caribbean island of Dominica.

Leanni Tibbetts awarded Butterfield scholarship

Leanni Tibbett has been named the recipient of Butterfield Bank’s 2015 undergraduate scholarship.

Little League all-stars announced

The Cayman Islands Little League Association has announced its 2015 all-stars

Island Games teams announced

Cayman announces its Island Games teams to compete in Jersey from June 27 to July 3.

Cayman Red Cross Nepal appeal raises almost $50,000

The Cayman Islands Red Cross’s Nepal Emergency Appeal has raised almost $50,000 to assist people affected by earthquakes that shook the Himalayan nation earlier this year.

Nearly $19,000 raised locally for Nepal

The Cayman Islands Red Cross has collected nearly $19,000, including nearly $5,000 from public servants, in its Nepal earthquake appeal.

Red Cross launches Nepal earthquake appeal

Cayman Islands Red Cross is appealing to the public to contribute towards its fundraising efforts to provide aid to earthquake-devastated Nepal.

CNB double charges reversed

Cayman National Bank confirms double-billed charges have been refunded.

Cayman National double charged some cards

A technical problem at Cayman National Bank caused some people to be billed twice when merchants swiped their cards.

Hopefuls vie for Young Musician of the Year

At least eight finalists will compete to be selected as the Butterfield Young Musician of the Year on May 7 at the Prospect Playhouse.

CIBC sells 19 percent stake in Butterfield

Canadian Imperial Bank of Commerce is selling its $155 million stake in Butterfield, five years after investing in the Bermuda-based banking group.

Freedom of Information: Ready for upgrade

A review of Freedom of Information processes may be incumbent upon local FOI managers, many of whom appear to be less-than-versed in what the law requires or the limits it may place on compliance.

Children's arts festival begins

Children's arts festival begins.

Enough Stuff swim adds to pool

A band of intrepid swimmers are navigating the 10K Enough Stuff North Sound Swim this weekend to raise money for charity.

New probe in FOI wage data release

The Information Commissioner’s office has launched its own investigation into the release of wage data for more than 20,000 work permit holders by the Department of Immigration.

New 'chip and PIN' credit cards for Butterfield Bank

Butterfield Bank credit card customers will get new, more secure chip and PIN cards.

Firms file injunction over wage data release

The information manager for the Immigration Department faces court action over releasing wage data for more than 20,000 work permit holders to the media.

Sponsors give gymnasts a lift

The Cayman Islands Gymnastics Association has attracted local sponsors to provide three talented and committed young gymnasts with scholarships for the upcoming season.

2014 Year in Review

A month-by-month review of the Cayman Islands' top new stories in 2014.

Passport 2 Success graduates 20 young Caymanians

Twenty young Caymanians have graduated from the most recent Passport 2 Success program.

Magazine names Butterfield Bank of Year

International banking industry publication, The Banker, named The Bank of N.T. Butterfield & Son Limited and Butterfield Bank (Cayman) Limited the recipients of its Bank of the Year 2014 Awards.

Butterfield Bank earnings up

Butterfield reported a third quarter net income of $22.8 million.

Butterfield Q2 earnings rise

Butterfield Bank reported a rise in earnings in the second quarter and for the first six months of the year.

Access given to local charities for online donations

A commercial website is expanding to give people an easy way to donate to Cayman charities online.

Butterfield Bank to acquire part of HSBC Cayman

Butterfield Bank Cayman has reached an agreement to acquire parts of the corporate and retail banking business of HSBC Bank in the Cayman Islands.

Business in brief

A roundup of local business news.

Steel pannist wins Young Musician award

Sixteen-year-old Ethan Whittaker has been honored as Butterfield Young Musician of the Year 2014 for his performance on steel pan.

Cayman hopes to leap over Trinidad

Based on their performances so far, local riders are set for more success in Trinidad.

Final 13 vie for ‘Young Musician of the Year’

The 'Butterfield Young Musicians of the Year' competition is once again upon us, with 13 young hopefuls vying to take home the crown for 2014.

Business in brief

Business in brief.

Cayman girls ready to leap over regional opposition

Cayman’s equestrian community will be looking to impress by leaps and bounds.

Woman robbed at gunpoint

Police are investigating a robbery at gunpoint of a woman as she walked home in George Town on Sunday night.

US law students learn to dispel island myths

Law students visit Cayman to learn about the financial industry and how it works.

Irish Jog attracts leprechauns

The annual Irish Jog is approaching and is guaranteed another huge participation of over 1,000 runners and walkers.

Pilot program successful in training Caymanians for jobs

A small step towards solving the National issue of unemployment among Caymanians was made through an out-of-work pilot program - where 18 Caymanians secured permanent employment at various local businesses.

CISPA appoints Sheree Ebanks as CEO

The Cayman Islands Society of Professional Accountants has appointed Sheree Ebanks as its chief executive officer.

Cayman shoppers hit in Target data theft

Caymanians who did their Christmas shopping at Target department stores in the US are among those impacted by a massive data breach at the store.

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