November 7, 2017 |
While the English-speaking Caribbean islands’ economies continue to face weak economic growth forecasts, National Commercial Bank (NCB) proved yet again it can grow profits and withstand shocks to Jamaica’s economy. Financial resilience and good capitalization saw NCB post 14.4 billion Jamaican dollars ($113 million) in net profits at the end of 2016, steadily increasing since recording 8.5 billion dollars in 2013.
According to a report from Fitch Ratings, NCB’s liquid assets covered 108% of customer deposits at the end of 2016. The bank also maintained a regulatory capital ratio of 12.5%, higher than the 10% required minimum, making it the Bank of the Year in Jamaica for the third year in
The island’s largest bank boosted its coffers with higher net profits and advanced its expansion plans throughout neighboring Caribbean nations.