We have the right people in place at NCB now and are poised for greater growth —Lee-Chin
Al Edwards / Our Today
administrator
NCB Financial Group held its annual general meeting at the Pegasus Hotel in New Kingston last week with the group’s performance favourably received.
Chairman Michael Lee-Chin said great efforts have been made to bring in a world-class team and that the changes that have been made over the better part of two years are paying off.
For the quarter ended December 31, 2024, NCB Financial Group reported a consolidated net profit of J$5.1 billion, a $2.2 billion or 73 per cent increase on the prior year. Consolidated equity registered at $208.25 billion with Total Assets at $2.29 trillion.
For the quarter under review earnings per share stood at $1.09
In an issued statement to the Jamaica Stock Exchange, NCB wrote: “ The group remains well positioned to capitalise on growth opportunities supported by a solid capital base and a sharpened focus on operational efficiency. Having navigated the successful execution of key structural changes and the adoption of IFRS 17 within the last two fiscal years, we have demonstrated resilience as we execute our multi-year strategy to improve profitability, expand margins and maintain market share.
“With the foundational changes now behind us, we are poised to realise greater efficiencies, strengthen primary customer relationships and enhance product penetration while driving sustainable growth.”
Despite the positive performance and the Group heading in the right direction, some shareholders impatiently demanded higher dividend payments.
Our Today caught up with NCB’s top brass and talked about taking NCB to the next level, whether Lee-Chin is now happy, the importance of mentorship and putting a smile on shareholders’ faces.
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