Butterfield’s International business ‘largely unaffected’ by pandemic

Tuesday 27 July 2021

Butterfield Bank has released its financial results for the second quarter of 2021, revealing solid results and high returns, despite the effects of the pandemic.

The international bank recorded a net income of $39.6 million and a return on average common equity of 16.7%.

“Our consistent high returns, even through the pandemic, is the product of a business model characterised by low credit risk,” said Butterfield’s Chairman and Chief Executive, Michael Collins.

“International business in Bermuda, Cayman, and the Channel Islands was largely unaffected due to the success of remote working models,” he said.

Pictured: Butterfield has published the results of its second quarter.