Henry Smith, President and CEO Bank of Bermuda commented: "The Bank is fully supportive of the conditions attached to its licence, which relate primarily to the protection of national interests, as they are consistent with our commitment to remain a Bermudian institution and to share with Bermudians the opportunities and financial rewards that our continuing success brings.
"We can now continue with our objective of listing on Nasdaq. The process of listing includes filing a disclosure document with the U.S. Securities and Exchange Commission (SEC), called a €˜registration statement', and we will also apply to have our common shares quoted on Nasdaq. It is difficult to estimate how long this process will take, but our goal remains to list in the U.S. at the earliest appropriate opportunity."