Best Bank - Jamaica
Jamaica’s National Commercial Bank (NCB) has passed the test of a weak local economy and a sovereign debt restructuring relatively unscathed, as profitability and liquidity remain at acceptable levels.
reflect its strong domestic franchise, adequate profitability,
good asset quality and capital levels," says Fitch analyst
Franklin Santarelli. He adds that profitability at NCB is
slightly better compared to peers in the same rating category.
The bank was upgraded in February to B- (stable) from CCC
following a sovereign promotion to the same level following its
Relative stability in the banks financial indicators
comes despite a contracting economy that is highly dependent on
external flows related to tourism and remittances. In 2009
Jamaicas GDP contracted by 3.5% and is expected to
rebound by just 0.5% this...
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