The genesis of Bermuda Commercial Bank goes back more than 40 years to when a group of Bermudian entrepreneurs conceived of forming a local savings and loan institution in Bermuda. The Bank was formed by an Act of Parliament in February, 1969 under the name of The Provident People’s Bank Limited. In May of 1969, this changed to Bermuda Provident Bank Limited. In 1984, the name was again changed to Bermuda Commercial Bank Limited. Despite the many changes over its 38 year history, the entrepreneurial spirit that founded the bank continues to live on today.
In the early 1990's, the Bank established a new niche market focus, providing services tailored to the international business market and private wealth clients. As part of this strategic alignment, the Bank became smaller and leaner with increased efficiency. Today, Bermuda Commercial Bank remains the only bank in Bermuda focused solely on the unique needs of the corporate and private wealth community.
Bermuda Commercial Bank Group has been guided by a corporate philosophy centered on the provision of quality services tailored to the specific needs of its clients. The following principles form the basis of the Bank's core beliefs:
Innovation
The provision of financial services requires precision, attention to detail and a constant demand for quality. Similarly, the corporate logo, inspired by the Sea Venture, which brought the first settlers to Bermuda in 1609, is intended to represent the Bank's pioneering approach to international banking and finance. Innovation drives the Bank at all levels of operation.
Innovation is essential in the financial services industry by adapting to and meeting the specific needs of clients, proactively suggesting new and improved ways of operating in the offshore environment and taking a leadership position in the provision of these services.
Quality Service
As a service provider in the financial services industry, Bermuda Commercial Bank operates in a highly competitive and demanding environment. The provision of financial services depends upon maintaining the highest standards of quality, forming a strong bond with clients based on mutual trust and respect, keeping informed of relevant developments in the industry and updating the services provided to reflect the changing environment. The Bank has sought to take advantage of its relatively small size by providing personalized service to its client base. This is done by ensuring that our clients always have access to people, not automated systems, to take care of their needs.
