NCB increases profit & dividend

NCB hqtrNational Commercial Bank (NCB) enjoyed a 12 percent increase in profits for the quarter to December last year, of $2.4 billion up from $2.1 billion in 2014 for earnings per share of 97 cents.
Profit before taxation came in at $3 billion compared with $2.9 billion in 2014. The improved numbers came from growth in revenues net of interest cost, fee and commission expenses of $12.68 billion, up from $11.96 billion in 2014. Net interest income rose $530 million and insurance premium increased $5000 million but foreign exchange trading contributed $300 million less than in 2014.
Provision for credit losses declined to $424 million from $587 million while asset tax swelled other operating expenses by an estimated $700 million based on 2014 figures, to $3.87 billion for the quarter compared with the September 2015 quarter of $3 billion.
NCB’s assets grew from $500 billion at the end of 2014 to $538 billion with loans accounting for $172 billion, an increase of 9 percent from $157 billion in 2014.
In December 2015, NCB entered into an agreement to purchase a 29.99 percent stake in Trinidad’s Guardian Holdings.
NCB con spngThe banking group seems on target to record profit around $5.80 per share for the full year on existing business operations.The stock last traded on the Jamaica Stock Exchange at $40 for a PE of 6.9 times earnings based on the profit estimate and with some room for increased value.
Based on the results the dividend was raised from 45 cents per share paid last year to 50 cents per share to be paid on February 26 with the record date of February 15.

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  1. […] to close at $11.50, Mayberry Investments traded 1,957,711 shares but lost 20 cents to end at 44.20 National Commercial Bank with 25,525 shares changing hands, to close $1.10 lower at $39.90, Proven Investments ordinary share […]

  2. […] lower. Gains| Clico Investments traded 237,000 shares to close at $22.51 with a gain of 1 cent, National Commercial Bank rose 4 cents while trading 118,811 shares at $2.40 and West Indian Tobacco gained 5 cents to close […]

  3. […] shares traded, carrying a value of $301,069 to close 1 cent lower at a 52 weeks’ low of $59.49. National Commercial Bank traded 145,733 shares valued at $343,641 but the price slipped 5 cents to close at $2.35, National […]

  4. […] to end at $10.91. Mayberry Investments had 4,278 shares changing hands but rose 10 cents to $4.60, National Commercial Bank traded 20,628 shares but fell 14 cents to close at $42.85, Pulse Investments traded 27,417 shares […]

  5. […] cents at $11.19. Mayberry Investments had 4,386 shares changing hands but rose 15 cents to $4.50, National Commercial Bank (NCB) traded 57,900 shares but rose $1.89 to close at $42.99 two trading days after the banking […]

  6. […] National Commercial Bank traded at a 10 percent premium over the last traded price of $41 in Jamaica on Friday, as the stock hit a 52 weeks’ high of TT$2.40 in Trinidad, having gained 12 cents while trading 52,325 shares. The gain stems from the company posting a 12 percent increase in profit for the quarter to December last year. National Commercial Bank stock remains in demand with a bid of $2.35 to purchase 121,645 shares and an offer to sell 14,053 units at $2.40. The market closed with 15 securities being active on Friday with 5 stocks gaining, 2 declining with the prices of 8 remaining unchanged as the stock prices of 3 companies hit 52 weeks’ high and one stock closed at a 52 weeks’ low. A total of 323,981 shares changed hands valued at $3,160,392. The Composite Index advanced by 0.87 points to 1,163.31, the All T&T Index lost 2.10 points to 1,931.28 and the Cross Listed Index gained 0.53 points to end at 51.63. IC bid-offer Indicator| The Investor’s Choice bid-offer indicator has turned negative with only 6 stocks with bids higher than the last selling price and 9 stocks with offers that were lower. Gains| Grace Kennedy traded 1,300 shares to gain 3 cents and closed at a 52 weeks’ high of $4.15, Guardian Holdings had 966 units changing hands and gained 2 cents to close at $14.20, Prestige Holdings contributed 103,621 shares with a value of $1,060,013 and rose 4 cents while closing at a 52 weeks’ high of $10.23 and Scotia Investments contributed 90,246 shares with an increase of 2 cents to close at $1.60. Losses| National Flour lost 6 cents to end with 1,793 shares changing hands at $2.27 and late 2015 listed Trinidad and Tobago NGL fell 89 cents to a new 52 weeks’ low of $19.10 with 42,256 shares valued at $807,090 changing hands as lower energy prices puts pressure on revenues. Firm Trades| Angostura Holdings ended with 850 shares changing hands to end at $13.60, Ansa Merchant Bank traded 3,631 units at $38.96, Clico Investment Fund traded 23,550 shares valued at $529,876 to close at $22.51. First Citizens Bank had just 25 shares changing hands at $35. Republic Financial Holdings closed at $112 with 2,730 shares changing hands, Sagicor Financial added only 588 shares and closed at $6.50, Scotiabank closed with 50 shares changing hands to end at $61 and West Indian Tobacco traded 50 units to close at $126.30. […]

  7. […] cents at $11.09. Mayberry Investments had 20,000 shares changing hands and fell 16 cents to $4.35, National Commercial Bank traded only 1,200 shares but rose $1.10 to close at $41.10 after the banking group released interim […]

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