National Commercial Bank is 2007 LatinFinance Bank of the Year
November 19, 2007
National Commercial Bank is the LatinFinance 2007 Jamaica - Best Bank of the Year. NCB’s success is attributed to the ambitious growth plan implemented to position the Bank as one of the most prolific Banks in the Caribbean.
Every year LatinFinance chooses banks across Latin America and the Caribbean as the very best in the business. The measure is read by those active in debt and equity capital markets; banking operations, strategy and technology; fund management; M&A and corporate finance; treasury and cash management; structured finance and securitization; trade, project and infrastructure finance; private banking and wealth management.
Under the stewardship of Patrick Hylton, Group Managing Director and Dennis Cohen, Deputy Group Managing Director the bank has continued to increase its financial strength. Since AIC’s acquisition of the bank, NCB’s stock price has increased from $3 per share in 2002 and presently trades above $23 per share. NCB also dominates the commercial banking sector in assets by having 37% market share.
“NCB has steadily grown its lending portfolio to become Jamaica's largest financial institution by assets in a market with some heavy foreign hitters” - LatinFinance.
At the centre of the Bank’s business plan is its loan growth which has seen a robust increase. NCB’s loan portfolio represented 19% of assets at year-end 2006, up from less than 8% in 2002. The organization has also strengthened its human capital by providing an impressive Staff Training Centre for its employees, which recently received accreditation by the University council of Jamaica as a tertiary institution.
As the organization grows, NCB maintains its commitment to the Jamaican people through the development of health, education, sports and entrepreneurship.