Butterfield Bank has been named Bank of the Year by *The Banker* magazine – for the fourth consecutive year. Earlier this year, the Bank was named ‘Best Developed Market Bank in Bermuda 2005’ by *Global Finance* Magazine.

*The Banker*, based in the U.K, every year selects banks around the world to enter The Banker Awards. This year its global editorial team considered financial performance, activities undertaken to improve shareholder return and major initiatives undertaken. The magazine quotes:

*“This year’s award for best bank in Bermuda goes once again to Butterfield Bank. Butterfield has achieved a strong financial performance across all jurisdictions and core businesses in an increasingly competitive market. This has been reflected in a 27.8% increase in net profits, which totaled to $90.5m and a 21.2% ROE, up from the previous year’s 17.9%. The bank has also successfully integrated three acquired businesses into its group: Deerfield Fund Services in the Bahamas, Leopold Joseph Holdings in London and Guernsey and Grosvenor Trust Company, which strengthens Butterfield’s Bermuda trust business.”*

Alan Thompson, President & CEO of Butterfield, says the Bank is pleased to have won the award, which recognises the ongoing strength of Butterfield Bank’s performance and its activities in serving customers. *“Our strong performance across all business lines and jurisdictions confirms that our focus on developing core businesses remains sound,”* he said.

The Butterfield Bank Group offers a full range of community banking services in Bermuda, Barbados and the Cayman Islands, encompassing retail and corporate banking and treasury activities. As a specialist offshore financial services provider the Group also provides private banking, wealth management and fiduciary services, and investment and pension fund administration services from its headquarters in Bermuda, and its subsidiary offices in the Cayman Islands, Guernsey, **The Bahamas** and the United Kingdom.