November 10, 2016
Jamaica’s success in getting its finances back on track and meeting IMF targets is setting an improving backdrop for the country’s banks. For National Commercial Bank, the sovereign’s success is, in part, its own: 47% of the lender’s assets are in government securities, according to Fitch. Now, with sovereign debt restructurings from 2010 to 2013 behind it, NCB’s capital position compares well with regional peers.
The lender has consolidated its position in the Jamaican market, being the country’s largest financial institution with a market share of 41% by assets and 37% by deposits, Fitch says. The importance of the bank has resulted in the Bank of Jamaica requiring NCB to have a regulator
The Jamaican financial institution is expanding in regional capital markets and insurance