Tag: Butterfield Bank
High street banks expected to cut interest rates
(CNS): Butterfield Bank (Cayman) Limited is the first of Cayman’s high street retail banks to announce an interest rate cut following the reduction in the US Federal Funds Rate yesterday by a quarter point. Butterfield said it will cut its Prime Rate for US and CI dollar lending for residential mortgages, consumer loans and corporate […]
CCMI partners with bank in blue carbon off-set scheme
(CNS): The Central Caribbean Marine Institute (CCMI) is collaborating with Butterfield Bank to find out how a carbon offset and ecosystem-based restoration scheme can be put into practice in the Cayman Islands to mitigate climate change. The negative effects of the increasing temperatures and other changes are becoming more visible, especially in vulnerable habitats like […]
Bank cutting jobs in global restructure
(CNS): Butterfield Bank is reducing its global workforce by around 9%, with the possible loss of 20 jobs here in the Cayman Islands. Officials from the bank told CNS Thursday that it will continue to operate in all of the jurisdictions where it currently has a presence, and there will be no changes to the […]
Butterfield gives generously to support hospice
(CNS): Jasmine Palliative and Hospice Care has announced that its patient room #1 will be named for Butterfield in recognition of the bank’s significant donation, to be made over the next three years, to support the non-profit organisation, which is dedicated to enhancing and improving the lives of people with life-limiting illnesses. This is the first […]
Bank pays $5.6M in US non-prosecution deal
(CNS): Butterfield Bank has reached a non-prosecution financial deal with the United States Department of Justice to put to bed a long running criminal case regarding past allegations of facilitating tax evasion in the Cayman Islands. The bank has agreed to pay US$5.6 million in taxes and forfeiture to address the allegations relating to the […]
Bank worker tests positive for COVID-19
(CNS): Butterfield Bank closed just the 2nd floor of its downtown George Town branch* Wednesday for deep sanitizing after it received its first positive test for a member of staff during the ongoing coronavirus screen test programme. The employee, who is asymptomatic, has been sent home and is self-isolating with the support of the bank. […]
Butterfield to move ten local jobs to Canada
(CNS): Butterfield Bank is losing ten local jobs, officials have confirmed, as part of a restructuring announced by the financial institution that will see positions migrating to the support services centre in Halifax, Nova Scotia, Canada. Twelve posts in Bermuda and ten here in the Cayman Islands will go. All of the job losses are in the […]
Caribbean’s first seabin arrives in Cayman waters
(CNS): A V5 Hybrid Seabin has been installed in the water by the Cayman Islands Yacht Club in West Bay to begin gobbling up the rubbish that makes its way into the sea. This is the first Seabin to be installed in the region; it is designed for marinas, docks, yacht clubs and commercial ports […]
Bank ATM stymies scammers
(CNS): Two men from Canada who came to Cayman to try and steal cash from local ATMs using cloned credit cards were rounded up by the authorities before they could take any money, the court heard Friday. Adam Mokdad and Hakim Benamara were arrested in April after several of the cloned gift cards they were trying […]
