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Daily news, documents and intelligence about Offshore Financial Centers and those who conduct business in them that you will not find anywhere else.
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Bank of Butterfield
Anonymous
Posted: Friday, August 12, 2011

Posted: 3/14/2004 1:58:15 PM

By: Ralph

Thanks for the insights, I assume there is no more specific information?


Anonymous
Posted: Friday, August 12, 2011

Posted: 3/12/2004 6:44:20 AM

By: David Marchant

I think you can take it as a foregone conclusion that the Bank of Butterfield will seek a listing on Nasdaq and be bought by a larger bank at some time in the near future.

OffshoreAlert and InsideBermuda, our two newsletters, reported several years ago that the Bank of Bermuda was seeking an exemption from the 60:40 local ownership rule that would allow it to be listed on Nasdaq and, ultimately, be bought. We also reported that Butterfield was likely to follow suit.

Anyone who acted on our story - which did not constitute investment advice but was stating the obvious - and bought Bank of Bermuda stock would have made a killing in the markets, likewise with the Bank of Butterfield.

The Bank of Butterfield is Bermuda's oldest bank, well over 100 years old, and has been reporting healthy profits for some time, while the Bank of Bermuda was going in reverse.

David Marchant


Internal Administrator
Posted: Friday, August 12, 2011
Joined: 10/12/2010
Posts: 5780


Posted: 3/11/2004 7:55:01 PM

By: Ralph

Anyone heard about a very large deal that BNTB is working on...is it something like the recent Bank of Bermuda sale? With a listing on the BSX it would be difficult if not impossible, but maybe they're seeking a listing on NASDAQ or another exchange? Any ideas?


 

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