Butterfield reports 'solid' third quarter results

Pedro Gonçalves
Butterfield reports 'solid' third quarter results

Butterfield reported net income of $42m or $0.79 per share for the third quarter compared to $38.6m or $0.72 per common share for the previous quarter. The group's acquisition of ABN Amro (Channel Islands) had an impact on net earnings through higher expenses and lowered net interest margins as Butterfield acquired a larger multi-currency balance sheet. "However, once the business normalises, we expect continued growth to long-term profitability from this acquisition," Michael Collins, ...

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