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Butterfield earnings on the up

Business 02 Nov, 2021 Follow News

Butterfield earnings on the up

Having released their third quarter results for the quarter ending 30th September, 2021, Butterfield reports net income for the third quarter of 2021 at $39.8 million, compared to net income of $39.6 million for the previous quarter and $30.5 million for the third quarter of 2020. As a result, the Butterfield Board has declared dividend for the quarter ended 30th September, 2021 of $0.44 per share.

Michael Collins, Butterfield's Chairman and Chief Executive Officer, said the third quarter of 2021 continued to illustrate the value of Butterfield's business model across economic cycles.

“Our strong results were achieved despite the prevailing low interest rate environment and the continued waves of outbreaks of Covid-19,” he confirmed. “Butterfield has been able to maintain strong net interest earnings and non-interest revenue, with excellent credit quality and performance, while managing strategic business investments and prudent expense moderation initiatives.”

He said Butterfield’s balance sheet remained strong.

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