View and download current and past Bermuda Commercial Bank Annual Reports.
Our first priority is always to ensure that BCB is stable and secure. At September 30, 2017, the Bank had capital of $121.9 million (2016: $103.9 million). The rest of the balance sheet had also grown, with total assets of $779.6 million (2016: $649.0 million) and total deposits of $585.7 million (2016: $453.8 million). The capital ratio was very strong at 22.5% (2016: 21.8%). The Bank was also very liquid, with cash and cash equivalents totalling 33.5% of total assets (2016: 33.0%). Encouragingly, this conservatism did not prevent BCB from posting materially improved results. For the year to September 30, 2017, the Bank achieved a profit of $1.1 million (2016: loss of $6.6 million). This turnaround was achieved thanks to a combination of improved income and reduced expenses.
Download BCB 2017 Annual Report (2.6 MB)
During the past three years, BCB has totally transformed its infrastructure. The Bank has recruited an independent and effective Board; deepened its senior management team; adopted a new and comprehensive enterprise risk management framework; implemented entirely new core banking software; and moved into ideal premises.
Download BCB 2016 Annual Report (2.6 MB)
The financial results for the year were solid. The Bank earned total revenues of $35.3 million (up by 7.5% year-on-year) and a net profit of $8.0 million (2014: $9.2 million). The Bank ended the financial year with shareholder’s capital of $109.5 million and total assets of $759.7 million.
Download BCB 2015 Annual Report (1.7MB)
Our 2014 financial performance was consistent and in-line with expectations. Profits of $9.21 million against a level of $8.86 million in 2013 reflect strong performance within our investment portfolio during the year. Net interest income has increased from $15.98 million to $18.17 million. The quality of the Investment Portfolio continues to strengthen and realised gains have improved from $14.69 million to $17.84 million during the year.
Download BCB 2014 Annual Report (1.2MB)
Bermuda Commercial Bank has delivered a strong set of 2013 financial results in difficult market conditions. As a regulated, trust driven business, the Bank seeks to generate sustainable financial performance and we achieved that again this year by recording profit of $8.86 million. In addition, we increased shareholder capital to $109.46 million and grew total assets to $591.67 million. Our strong capital and liquidity positions provide a stable base for the continuing development of the Bank.
Download BCB 2013 Annual Report PDF (1.2MB)
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