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Bermuda Commercial Bank
From Wikipedia, the free encyclopedia
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Bermuda Commercial Bank Limited (“BCB”) is a Bermudian bank that is one of four licensed banks in Bermuda.[1] It has been a 100% subsidiary of Provident Holdings Limited since 2021.[2]
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History
BCB began by an Act of Parliament in February 1969. BCBs core banking system provides a suite of products, including online banking. In June of 2016, the BCB Group of Companies moved into a new location at 34 Bermudiana Road, Hamilton. In 2019, BCB also celebrated its 50-year anniversary of providing banking services to Bermuda and internationally.[3]
In July 2021, the investment company, Provident Holdings Limited, purchased the BCB Group of Companies from Somers Limited. On March 1, 2022, BCB sold its licensed trust business and a primary licensed corporate administration services business together with two minor operational subsidiaries. The sale was in line with a renewed strategy to focus on the core banking business in Bermuda.
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References
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