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Butterfield Cayman review

Butterfield Bank (Cayman) Limited

Our review of Butterfield Cayman for ultra-high-net-worth families. We researched the legal entity that holds the licence and books the account, not just the brand.

Booking centreCayman Islands
RegulatorCayman Islands Monetary Authority (CIMA)
Legal formLocally incorporated subsidiary
GroupButterfield Group
Websitebutterfieldgroup.com
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PPLI.com
Private Bank Rating
Rating in preparation

We are still preparing the rating for this bank. What we have on file so far is below.

About the rating

Part of Butterfield. The group card is led by The Bank of N.T. Butterfield & Son Limited, whose own rating is the group's headline rating. This booking centre is rated separately.

The rating

What the PPLI.com rating of Butterfield considers

This is our editorial assessment of Butterfield. We look at the areas below, which matter to a family deciding where to keep its assets, and weigh them together with what clients tell us and the service they get. Retail products, branches and apps play no part. The public sources we used are listed at the foot of the page.

Conduct and enforcement

What regulators, prosecutors and courts have concluded about this licence holder in recent years.

Protection of client assets

Whether custody assets are ring-fenced by law in the booking centre, whether deposits are protected, and whether the custody terms can be read before signing.

Service for complex families

The breadth of private banking services the bank publishes for this booking unit, including work with external managers and family offices.

Cost transparency

Whether a prospective client can see the tariff and the bank's policy on third party payments before asking.

Ownership and control

Whether the bank's owners are public, how official assessments rate the anti-money-laundering regime of any owner's home jurisdiction, and whether a politically exposed person holds a significant stake. The same test applies to every bank.

Client opinions and service

What clients of Butterfield and their advisers tell us in confidence, and the service the bank gives to families. We never publish names. Tell us about yours

PPLI.comPrivate Bank RatingRating in preparation

The rating expresses the opinion of PPLI.com on the date shown. It is not a statement of fact about the bank, not a credit rating, not a forecast of failure and not investment advice. Read about the rating.

The record

Regulatory and legal record

What regulators, prosecutors and courts have decided, recorded against the legal entity they named, with the status, the amounts as published and a link to the original document. Claims and investigations still under way are marked as open.

We found no regulatory, criminal or court decision naming this licence holder in the last ten years, in the sources listed below.
Matters concerning other entities in the group (1)
20213 August 2021

Non-prosecution agreement, assisting US taxpayers to maintain undeclared accounts (2001-2013)

The US Attorney for the Southern District of New York announced a non-prosecution agreement with The Bank of N.T. Butterfield & Son Limited, the Bermuda parent, for helping US taxpayer clients open and maintain undeclared foreign accounts from 2001 through 2013. The bank paid USD 5.6 million (USD 4.896 million forfeiture and USD 704,000 restitution) and produced about 386 client files. The release describes funds moved between US and Cayman Islands based accounts; the Cayman subsidiary is not named as a party. The parent's 2025 annual report states the three-year agreement concluded in July 2024.

Shown for context only: the agreement was entered into by the Bermuda parent; the release refers to money moved between US and Cayman Islands based accounts.

Butterfield admits to helping its clients conceal their ownership of foreign bank accounts.

Per the release, the bank implemented remedial measures in 2013, produced about 386 client files, agreed to cooperate for at least three years and not to contest a related civil forfeiture action.

US Department of Justice, US Attorney's Office SDNY (with IRS-CI) · Resolution with admission · Total payment USD 5.6 million; Forfeiture USD 4.9 million; Restitution USD 0.7 million · Admission of the facts · Primary source
The bank at a glance

Identity, protection and services

Legal identity

Legal nameButterfield Bank (Cayman) Limited
LEI549300MTQSPU91FZ6432
LicenceCategory A banking licence (CIMA Category A bank list); bank's legal page: licensed to conduct banking and investment business by CIMA  Source
RegulatorCayman Islands Monetary Authority (CIMA)
Legal formLocally incorporated subsidiary
OwnerThe Bank of N.T. Butterfield & Son Limited (NYSE: NTB; BSX: NTB.BH)  Source

Ownership

Group parentThe Bank of N.T. Butterfield & Son Limited (listed, NYSE (NTB); BSX (NTB.BH))  Source
ControlWidely held; no shareholder with 10% or more  Source (31 December 2025)

Ownership is shown as published, with its date. It describes who owns the bank; it does not, by itself, suggest any wrongdoing by the bank or its owners.

Financial strength, as reported

Credit ratingsMoody's / S&P / KBRA ratings are published for the parent only (group)
group CET1 ratio29.4% (total capital ratio 29.6%) (2026-09-30)  Source
group total assetsUSD 14.3 bn (2026-09-30)  Source

Services published for this booking unit

Private clients
Discretionary management
Advisory mandates
Custody only (execution and safekeeping)
Lombard lending
Mortgage lending
Multi currency accounts
Trust and fiduciary services
Family office services
Wealth planning
Consolidated reporting
External asset manager desk

Offered at this booking centreOffered by the group, not confirmed hereNot located, which does not mean unavailable
Checked on the bank's own pages, 2 November 2026.

Access and costs

Minimum relationshipNot published
US personsNot published
Fee schedulePublished  Source
Third party paymentsNot published
Transfer out termsPublished  Source

Protection of client assets

Deposit protectionA regulator statement of absence was not located.
Custody lawNot published
Custody termsPublished  Source
Your experience

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If you bank with Butterfield or advise clients who do, your experience forms part of its PPLI.com rating. Every response is read by the editor and treated in strict confidence.

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Our commitment to confidentiality

Your name, email and telephone number are seen only by the PPLI.com editor. They are never published, never passed to Butterfield or any other bank, and never used for marketing. We may contact you once to clarify your assessment. Once verified by our editors, your assessment can lead to a disclosed adjustment of this bank's PPLI.com rating. It is never published with your name.

Sources

  1. US Department of Justice, US Attorney's Office SDNY (with IRS-CI): justice.gov/usao-sdny/pr/manhattan-us-attorney-announces-agreement-bermudian-bank-resolve-

For Butterfield

Before we publish a significant negative finding, we give the bank the facts and time to comment, on the same timetable for every bank. Corrections we verify are published with the date of the change. Write to [email protected] quoting reference BK-KY-BUTTERFIELD-CAYMAN-39DA73.

About this file

Researched by the PPLI.com research desk from the public sources listed. The rating is our editorial opinion; read how we rate.

Important information. Editorial opinion of PPLI.com on the date shown, based on public information, client experience and editorial judgment. Not a statement of fact, a credit rating or investment, legal, tax or financial advice; verify with the bank and your own advisers before acting. No liability is accepted for reliance on this content. Bank names and logos are used for identification only. Ratings are updated every quarter. This is the Q4 2026 edition, and a rating can change between editions if something material happens. Full disclaimer
Rating signed by Noam Cohen, Editor, Bank IntelligenceReviewed 2 November 2026Methodology 2.3Reference BK-KY-BUTTERFIELD-CAYMAN-39DA73
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