Bank concentration in Bermuda
Bermuda: Bank concentration was 96.6% in 2021. ▬ Flat
Bank concentration in Bermuda, 2003–2021
Source: Bankscope, Bureau van Dijk (BvD). Measured in %.
Analysis
In 2021, bank concentration in Bermuda stood at 96.6%.
Compared with earlier readings it is down 0.2% on the previous year and down 1.3% over ten years.
Over the whole period, bank concentration in Bermuda peaked at 100.0% in 2003 and was at its lowest, 94.5%, in 2017.
That places Bermuda 25th out of 170 countries with data for 2021, putting it in the top quarter.
Bank concentration in Bermuda, year by year
| Year | % | Change |
|---|---|---|
| 2003 | 100.0% | — |
| 2004 | 100.0% | +0.0% |
| 2005 | 100.0% | +0.0% |
| 2009 | 100.0% | +0.0% |
| 2010 | 98.2% | -1.8% |
| 2011 | 97.9% | -0.3% |
| 2012 | 97.6% | -0.3% |
| 2013 | 97.6% | +0.0% |
| 2014 | 97.4% | -0.2% |
| 2015 | 96.7% | -0.8% |
| 2016 | 95.2% | -1.5% |
| 2017 | 94.5% | -0.8% |
| 2018 | 95.7% | +1.3% |
| 2019 | 96.7% | +1.1% |
| 2020 | 96.9% | +0.2% |
| 2021 | 96.6% | -0.2% |
Bermuda compared with similar countries
- Bermuda's 96.6% is above the median for high income countries, which is 73.1%, 1.3× the median. (63 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 100.0% | 100.0% | 100.0% | 4 |
| 2010s | 96.8% | 94.5% | 98.2% | 10 |
| 2020s | 96.7% | 96.6% | 96.9% | 2 |
Countries ranked near Bermuda
More financial sector data for Bermuda
- Net migration, annual growth rate 60 % change on previous year (2025)
- Net migration -2 (2025)
- Official exchange rate 1 LCU per US$, period average (2025)
- GDP deflator: linked series 129.48 base year varies by country (2024)
- Inflation, GDP deflator: linked series 4.9% (2024)
- GDP deflator: linked series (base year varies by country), annual 4.9 % change on previous year (2024)
- Reserve assets 211.49 million US dollar (2023)
- Banking crisis dummy 0 1=banking crisis, 0=none (2017)
- Total assets, Adjusted using IMF accounting records 15.85 billion US dollar (2023)
- Reserve assets (Assets, Positions, US dollar), annual growth rate -3.04 % change on previous year (2023)
Frequently asked questions
- What is bank concentration in Bermuda?
- Bank concentration in Bermuda was 96.6% in 2021, according to Bankscope, Bureau van Dijk (BvD).
- What is the highest bank concentration recorded in Bermuda?
- The highest recorded value was 100.0% in 2003.
- What is the lowest bank concentration recorded in Bermuda?
- The lowest recorded value was 94.5% in 2017.
- How does Bermuda rank for bank concentration?
- Bermuda ranks 25th out of 170 countries with data for 2021.
- Is bank concentration rising or falling in Bermuda?
- Over the last ten years it is down 1.3%. The long-run trend across the full record is flat.
- Where does this Bermuda data come from?
- The figures come from Bankscope, Bureau van Dijk (BvD), published as part of Bank concentration (%). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 16 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Raw data are from Bankscope. (Sum(data2025) for three largest banks in Bankscope) / (Sum(data2025) for all banks in Bankscope). Only reported if number of banks in Bankscope is 3 or more. Calculated from underlying bank-by-bank unconsolidated data from Bankscope.