Best Bank - Jamaica

Best Bank - Jamaica

Caribbean

National Commercial Bank (NCB) has steadily grown its lending portfolio to become Jamaica's largest financial institution by assets in a market with some heavy foreign hitters. It has maintained an ambitious growth plan that endured a change of government and two rough hurricane seasons. Innovative capital raising strategies leave NCB poised to become a strong regional player, earning it LatinFinance 2007 Bank of the Year honors for Jamaica. "We bought a national treasure that had lost its luster," says Rob Almeida, director responsible for the Caribbean at Canadian mutual fund AIC, which purchased 75% of NCB for $127 million in 2002. The transaction valued NCB at just three Jamaican dollar

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