NCB posted a 16% jump in nine months’ profits & declared a dividend of 50 cents.
Earnings per share ended at $1.88 for the quarter, up from $1.29 in 2015 and for the period to June $4.31 versus $3.48, with full year earnings are set to exceed $6.
The gains were helped by an 11 percent climb in loans and advances to reach $180 billion and a reduction in a number of areas of cost, including a fall in loan loss provisioning to $157 million in the quarter from $472 million in 2015 and for the nine months from $1.4 billion to $904 million.
Customer deposits increased by 18 percent or $38.9 billion over June 2015 to $256 billion.
Total operating income net of interest cost and fee and commission expenses increased to $12.76 billion from $11.68 billion, for the quarter and to $38.4 billion compared to $35.3 billion for the period to June. Net interest income increasing by 8.8 percent, or $1.7 billion, due to growth in the net loans and investments and a reduction in interest expenses driven by a decline in funding costs.
NCB management stated that for the nine months, net fee and commission income increasing by 10.3 percent, or $743 million, mainly due to credit related fees from growth in the loan portfolio, higher volumes of point of sale transactions and unit trust commissions arising from growth in the portfolios. Premium income grew by $388 million, or 6.8 percent, due to higher levels of life insurance and annuity contracts. Gain on foreign currency and investment activities increasing by 10.8 percent, or $305 million to $3.1 billion.
Overall expenses grew slightly from $7.46 billion to $7.64 billion for the quarter and for the nine months by 3.8 percent from $24.1 billion to $26 billion well below the increase in revenues.
NCB declared an interim dividend of 50 cents per ordinary stock unit payable on August 29, to stockholders on record as at August 15. NCB remains an IC Insider Buy Rated stock. In Trading the stock closed at $42.50 today on the Jamaica Stock Exchange for a PE of 7 and on the Trinidad and Tobago Stock Exchange at TT$2.75 or the equivalent of J$52.
The fall in the Lasco share price was in reaction to the company’s first quarter profit after tax of $175.4 million, or 33% more than the same period in 2015. 
The Trinidad and Tobago stock market closed on Thursday with 16 securities trading, resulting in 333,279 shares valued at $6,594,263 changing hands. On a day when there were 1 declining stocks, 6 stocks gained and only 9 remained unchanged. 
Losses| Point Lisas Industrial Port had 5,572 shares changing hands, with a loss of 10 cents to close at $3.60.
The index closed 12.08 points higher at 2,193.43 as 3 stocks gained and 4 declined with 1 closing at a new high and one at a new low. A total of 1,816,484 units traded, valued at $5,056,429. 
Lasco Distributors ended with 9.640 shares changing hands, to end at $7.40, Lasco Financial ended with 84,114 shares changing hands to close 5 cents higher at $3.40. Lasco Manufacturing closed at $5 with 81,326 shares trading, Medical Disposables traded 389,454 shares and gained 45 cents to close at $4, tTech traded 8,456 units to end at $4 and Derrimon Trading preference share ended with 3,500 shares changing hands to close 1 cent lower at a 52 weeks’ low of $2.07.
Clico Investment Fund lost 5 cents and closed with 16,438 shares valued at $373,991 changing hands at $22.75. National Enterprises ended with 5,000 shares changing hands to end with a loss of 11 cents at $10.60, National Flour had 14,633 shares changing hands with the loss of 1 cent, to close at $2.30 and Trinidad and Tobago NGL closed with 21,559 shares valued at $1,186,155 changing hands at $23.75 with a loss of 74 cents.
The Jamaica Stock Exchange recorded gains in all major indices at the close on Wednesday, but more stocks declined than those that recorded gains. A total of 34 securities traded, with 8 rising, 13 declining, including 3 stocks rising and 4 declining from the junior market, as the market continues to consolidate. 
At the end of market activities, Cable & Wireless traded 126,763 shares to close at $1.17, 
Sagicor Group ended with 4,500 shares changing hands and declined 5 cents to $22. Sagicor Real Estate Fund traded 5,620 shares to close at $10.12, after falling by 38 cents, Scotia Group fell by 30 cents in trading 11,316 shares to end at $30.20, Seprod had 8,600 units changing hands at $17.40 for a rise of 40 cents. Proven Investments traded 819,764 units to close at 16 US cents for a fall of 0.99 US cents. JMMB Group 7.5% traded 600,000 shares while gaining 5 cents to close at $1.10 and Jamaica Money Market Brokers 7.50% preference share traded 191,550 units at $2.09.
Net inflows of foreign exchange traded by authorized dealers, declined moderately, on Wednesday’s net flows ended with the equivalent of just under US$1 million more sales than purchases leaving the surplus since the end of June to US$94 million.
A total of US$27,002,488 was sold versus US$37,840,792 on Tuesday, with the selling rate rising 7 cents to end at $126.47. The Canadian dollar buying rate rose 42 cents to end at $95.08, with dealers buying C$3,504,810 and selling C$6,590,709, at an average rate that rose 37 cents to $97.46. The average rate for buying the British Pound fell 54 cents to $162.75 for the purchase of £1,335,223, while £350,622 was sold to end at $165.43, with a fall of 21 cents.
The US dollar equivalent of other currencies traded amounts to US$998,812 being bought, while US$2,292,849 was sold.
Caribbean Cement fell 45 cents in trading 61,670 shares to close at $22.55, Carreras rose $2.49 in exchanging 64,676 shares at $64.99. Trading in 1834 Investments, resulted in 46,006 shares changing hands to close with a gain of 10 cents at $1.30. Grace Kennedy closed at $122.50 after falling by 50 cents, with 17,598 units changing hands. Jamaica Broilers ended with 6,763,178 shares changing hands, to close with a rise of 26 cents at $15, Jamaica Producers traded 60,419 shares and ended at $8.15, Jamaica Stock Exchange rose $1 to end at $23 while trading 20,704 shares. JMMB Group traded 100,100 units and gained 9 cents to end at $9.99, Kingston Wharves climbed 49 cents with 200 units changing hands and closed at $15.99. National Commercial Bank ended with 43,398 units changing hands to close at $42, Pan Jamaican traded 22,126 shares and gained 50 cents to end at $24.50, Portland JSX traded 40,019 shares and lost 1 cent to close at $12.89. Radio Jamaica lost 2 cents to close at $1.37 after 266,334 shares changed hands, Sagicor Group ended with 20,898 shares changing hands and declined 95 cents to $22.04,
Sagicor Real Estate Fund traded 38,447 shares to close at $10.50, Scotia Group rose by 30 cents in trading 124,880 shares to end at $30.50. Scotia Investments had 6,800 units changing hands at $26.10 for a fall of $1.39, Supreme Ventures gained 20 cents in trading 48,268 shares to end at $4.80, Proven Investments traded 60,990 units to close at 16.99 US cents for a rise of 0.99 US cents. JMMB Group traded 5,000 shares while losing 3 cents to close at US$1.05, JMMB Group 7.5% preference share traded 425,253 units at $1.05 and Jamaica Money Market Brokers 7.50% preference share traded 680,580 units at $2.09 after slipping 1 cent.
Net inflows of foreign exchange traded by authorized dealers, continue to build, but only slightly with Tuesday’s net flows ended at the equivalent of just under US$1 million more purchases than sales, leaving the surplus since the end of June to US$95 million. In Tuesday’s trading, dealers bought US$43,327,457 while they sold US$42,722,998, compared to US$47,919,715 purchased and US$36,831,264 sold on Monday of all currencies, as the value for the Jamaican dollar fell. 
A total of US$37,840,792 was sold versus US$34,967,119 on Monday with the selling rate rising 2 cents to end at $126.40. The Canadian dollar buying rate rose $1.69 to end at $94.66, with dealers buying C$2,975,831 and selling C$4,626,313, at an average rate that climbed $1.51 to $97.10. The average rate for buying the British Pound climbed 69 cents to $163.29 for the purchase of £1,861,847, while £854,880 was sold to end at $165.64, with a rise of $1.37.
for the Jamaican dollar in the foreign exchange market on Tuesday, include, a jump of $19.38 in the lowest selling rate of the US dollar to close at $122.50, there was a rise of $1.95 in the highest buying rate of the Canadian Dollar to $97.60, a fall of $1, in the lowest selling rate to $90 while trading in the British Pound resulted in a gain of $7.57 in the highest buying rate to end at $173.88 and a rise of $1.65 in the lowest buying rate to close at $133.63.
Firm Trades| Agostini’s traded 2,000 shares, to end at $17.05, Angostura Holdings ended with 5,000 shares changing hands to close unchanged at $13.50, Ansa Merchant Bank traded 37 units at $40, First Citizens traded 55 shares and closed at $35, Prestige Holdings traded 6,000 shares to end at $10.90. Republic Financial Holdings traded only 11 shares to close at $109.98, Sagicor Financial Corporation closed with 17,625 shares changing hands at $7.01, Trinidad Cement closed at $3 with 2,327 units trading and Scotiabank contributed 2,159 shares to end at $55.
