It has acquired 1100 new Global Premier clients, the bank’s service to its top-tier clients. It has launched a bancassurance joint venture with leading local insurer BF&M.
Bank of Bermuda has also demonstrated a keen commitment to developing the skills of its staff. For example, in the past year it implemented an accreditation programme for relationship managers supporting wealth management clients, and launched a talent management strategy to accelerate the development of its graduate and emerging and senior-level talent.
In terms of improving technology-based services, Bank of Bermuda has not stood still. It has launched Global View, an online banking platform feature that enables clients to view and transact across multiple countries and currencies with a single sign-on. It has also implemented a new client relationship management system to proactively identify clients’ potential needs.
In a difficult global environment, Bank of Bermuda’s holistic strategy is paying off: in 2007 it grew net profits by 16%, from an historical high in 2006, grew Tier 1 capital by 13% and achieved a return of equity of 18%.
“Despite challenging market conditions, Bank of Bermuda has demonstrated strong growth and momentum, prudent risk management and solid liquidity while continuing to be a committed community partner,” says Philip Butterfield, CEO of Bank of Bermuda.
“As the leading financial services provider in Bermuda, we offer relevant financial solutions and trusted advice to our customers. Our focus on local market needs, in partnership with our global capabilities, provides an unparalleled offering. In the year ahead we will continue to grow our business prudently.”
