The Board of Directors of Guardian Holdings has made the decision to cross-list on the Jamaica Stock Exchange (JSE).

An issued release read: “The Board considered that trading on the JSE has become increasingly dynamic over the years, with a relatively large number of new listings and increased public enthusiasm towards equities. The Guardian Holdings Limited Board expects strong interest in Guardian Holdings Limited shares by the Jamaican public. This Notice is published pursuant to Section 64 (1) (b) of the Securities Act, 2012.”

Buoyed by Michael Lee-Chin’s NCB Group acquiring a majority stake, Guardian has set its sights on becoming the leading indigenous financial services player in the region. NCB first acquired 29.99 per cent of Guardian in 2016 for J$27 billion.

In May 2019, NCB bought an addition 74.23 million shares in Guardian Holdings for US$207 million thus raising its ownership stake to 62 per cent.

Chairman of NCB Michael Lee-Chin explain the rationale behind this move saying, “As we stated at the beginning of this journey, we believe this transaction is a game-changer in the history of the region. Amidst the context of  de-risking impacting the region, we are proud and excited about the implications and prospects of two leading Caribbean institutions coming together to drive economic growth, customer and shareholder value.”

Since NCB’s declaration of intent to become a leading regional financial services powerhouse, Guardian’s profits have increased significantly.

In 2017, with NCB holding about a third of the shareholding, Guardian posted profits of TT$300 million. The following year, profits jumped to TT$485 million. With a head of steam, 2019 brought a profit figure of TT$600 million and last year, even with the COVID-19 pandemic raging, Guardian registered an impressive TT$800 million in profits.