(CMR) Publication Global Finance has named Butterfield Bank and Jamaica's National Commercial Bank (NCB) among a list of the world's safest financial institutions.
The 29th annual World's Safest Banks rankings were released on Monday and posted on Global Finance's website.
Bank of Butterfield copped the award for best Bank in Bermuda, while NCB was awarded best bank in Jamaica.
Managing Director of Bermuda and International Wealth at Bank of Butterfield, Michael Neff , in a virtual acceptance message noted that he was particularly pleased that his institution had succeeded in copping the award for what will make the sixth time in a row.
Neff stated that Butterfield's success was driven by its personal approach to clients, noting that it is particularly proud of its 160 years of heritage caring for its island clients.
Neff went on the state that while 2020 has been a challenging year for the bank it has still maintained its client-centric outlook and commitment to the community, highlighting several adjustments made to products and services that have supported clients.
Neff noted that the bank had deferred mortgage payments for six months, in addition to making adjustments to other products and services, which helped to keep money in the economy, adding that bank also launched a meal service for those in need.
“It is all part of ,really, a 160-year heritage of caring for our island clients in our jurisdictions. We operate in 10 different territories/ jurisdictions and that island heritage is important to us and will always be in our DNA, we take it very seriously and our commitment to it,” said Neff.
Similarly, NCB Chief Executive Officer Septimus “Bob” Blake expressed pride at the award noting that he was truly honoured to have received the accolade for another consecutive year.
“We consider the award a testament of our commitment to delivering world class financial solutions to our customer and country, said Blake.
According to the publication, it utilizes ratings from Moody's, Standard & Poor's and Fitch in compiling the list which ranks financial institutions in 112 countries.