Until 2003, foreign banks were not permitted to operate
in Bermuda. In that year HSBC took over the Bank of Bermuda.
The Bermuda Monetary Authority supervises the three Bermudian
banks. Each bank maintains its own trust company and the
three banks operate a joint clearing system. The three Bermudian
banks have expanded throughout the world and have subsidiaries
in major financial centers. They offer a full range of banking
services.
The early decision of the Bermuda Government to exclude
foreign banks may have owed more to self-interest than to
fear of money-laundering or the OECD, but it turns out to
have been very successful, leading not only to Bermuda's
high reputation but to the establishment of strong local
banks, something that has eluded almost all other IOFCs.
The Bank of Bermuda Limited
6 Front Street
Hamilton HM 11
PO Box HM 1020
Hamilton HM DX
Telephone No: (441) 295-4000
Telex No: (029) 3212 BANCO BA
Facsimile No: (441) 295-7093
The Bank of N T Butterfield & Son Limited
65 Front Street
Hamilton HM 12
PO Box HM 195
Hamilton HM AX
Telephone No: (441) 295-1111
Telex No: (029) 3211 FIELD BA
Facsimile No: (441) 292-4365
Bermuda Commercial Bank Limited
Bermuda Commercial Bank Building
43 Victoria Street
Hamilton HM 12
PO Box HM 1748
Hamilton HM GX
Telephone No: (441) 295-5678
Telex No: (029) 3336 COMBK BA
Facsimile No: (441) 295-8091
Capital G Bank Limited
21 Reid Street
Hamilton HM 11
PO Box HM 1194
Hamilton HM EX
Telephone No: (441) 296-6969
Facsimile No: (441) 292-1277
Regulatory contact
Bermuda Monetary Authority
Attn: Directors
Burnaby House
26 Burnaby Street
Hamilton HM 11
Bermuda
Tel 1 441 2 955 278
Fax 1 441 2 927 471
Web www.bma.bm
E-mail info@bma.bm
Bermuda
