NCB Financial Group

Stock performance

History

NCB's main subsidiary, National Commercial Bank Jamaica, was created when the government bought the Jamaican operations of Britain's Barclays Bank in 1977, and it was privatized in 1986. Investor Michael Lee-Chin's AIC group took control in 2002, and NCB Financial Group was set up as the holding company in 2017, later acquiring control of Trinidad-based insurer Guardian Holdings.

Business model

NCB provides retail and corporate banking, wealth management, insurance, and payment services in Jamaica and, through Guardian Holdings, insurance across the English- and Dutch-speaking Caribbean.

Market position

NCB Financial Group is Jamaica's largest financial group and one of the largest in the Caribbean, competing with Scotiabank Jamaica, Sagicor, and JMMB.

Country impact

NCB is one of the most valuable companies on the Jamaica Stock Exchange and a central player in the country's financial system, playing a key role in financing households and businesses as Jamaica reduced its public debt after 2013.