NCB profit respectable not electric

National Commercial Bank (NCB), released nine months results after trading closed, showing net profit of $8.554 billion, compared to restated net profit of $8.97 billion for the prior year. Profit also slipped in the June quarter, to $3.15 billion from the net profit for the three months to June 2014 of $3.4 billion, even as wages fell to $2.7 billion from $2.86 billion in 2014 and $3.3 billion in March.
NCB HQEarnings per share ended at $1.29 cents for the quarter and $3.48 for the nine months, full year earnings should be around the $5 region.
Net interest income is up on both the March quarter this year and the June quarter last year growing to $6.42 billion from $6.40 billion in March and $6.13 in June 2014. Gross interest income contracted to $9.17 billion from $9.33 billion in June 2014. Commission and fee income rose to $2.39 billion net, from $2.26 billion in March and $2.09 billion in 2014.
Foreign exchange and investment income fell sharply to $827 million from $1.08 billion in March and $1.13 billion in 2014. All income net of interest and commission cost climbed to $11.68 billion in the latest quarter from $11.67 billion in March and $11.1 billion, in last year’s June quarter. Loan loss provisions climbed to $472 million in the latest quarter from $353 million In March and $357 million in the June 2014 quarter. Policyholders’ and annuitants’ benefits and reserves jumped sharply in the June 2015 quarter to $1.32 billion from only $696 million in March and $1.1 billion last year.
Profit before associated company results, came in at $4.22 billion versus $4.27 billion in the March quarter, and $4.36 billion in the June 2014 quarter. Earnings from associated companies declined from $151 million in the March quarter, to a mere $6 million, thanks to a poor March quarter at JMMB Group, a company in which it owns a large block of shares. Last year NCB booked $311 million in this category, including their share of profits at Kingston Wharves which was sold in the September quarter, last year.
For the nine months period, net income rose from $31.9 billion to $35.32 billion but cost climbed as well hitting $24.08 billion from $21.56 billion, mostly as a result of other operating expenses that moved from $7.1 billion to $9.17 billion. Corporation taxes jumped from $2.37 billion to nearly $3 billion pushing pretax profit of $11.55 after tax, below that of the prior year that had pretax profit of $11.34 billion.
Loans have grown by 6.7 percent since June 2014 to reach $162.26 billion while investments funds declined to $259 billion from $264 billion over the same period.
The Board of Directors, declared an interim dividend of $0.45 per ordinary stock unit. The dividend is payable on August 21, 2015 for stockholders on record as at August 10, 2015.
The stock which is listed on the Jamaica Stock Exchange last traded at $29.30 for a PE ratio of less than 6.

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  1. […] National Commercial Bank reported profit of $12.3 billion for the year ending September slightly lower than the banking group’s revised 2014 profit of $12.33 billion which is revised upward from $11.6 billion. For the final quarter profit grew 12 percent to end at $3.75 billion for earnings per share of $1.52 from $3.36 billion in 2014. For the full year earnings per share amounts to $5. Pretax profit for the quarter is up 17 percent to $4.8 billion. The result for 2014 was revised upward from for earnings per share of $4.73 to $5.01. The 2014 results have in $650 million relating to gains on acquisition of a subsidiary and sale of associated company which makes the 2015 performance much better than it appears. Credit losses fell from $2.3 billion in 2014 to $179 billion in 2015 and for the quarter $387 million versus $987 million in 2015. A final dividend of 85 cents per share is to be paid December 11 with record date being November 27. NCB paid three interim dividends of 45 cents each during the year, the latest brings the total to $2.20 and is up from $1.98 in 2014. The final payment for 2014 was 96 cents with dividend payments amounting to 35 cents per share in August and May and 32 cents per share on February. NCB shares are listed on the Jamaica Stock Exchange and last traded at $34.50. […]

  2. […] at a new 52 weeks’ high, as the price rose 29 cents to reach $4.10, by trading 159,650 shares. National Commercial Bank with 42,039 shares changing hands closed $1.50 higher at $33, Pan Jamaican traded 73,657 shares to […]

  3. […] shares to close at $9.45, Kingston Wharves traded 21,168 shares and gained 5 cents to close at $9, National Commercial Bank closed with a gain of 10 cents with 3,900 shares trading, to end at $31.60. Pan Jamaican jumped $5 […]

  4. […] Stock Exchange had 32,622 shares trading at $8.60, JMMB Group traded 33,950 shares to close at $9, National Commercial Bank closed with a loss of 49 cents with 6,444 shares trading, to end at $31.50. Pan Jamaican traded just […]

  5. […] if trading continues to be bullish. JMMB Group traded 35,096 shares closing 50 cents higher at $9. National Commercial Bank closed with a loss of 50 cents with 24,100 shares trading to close at $31.99, Sagicor Group with […]

  6. […] Gain| Clico Investment Fund closed 1 cent higher with 3,827 shares changing hands at $22.51 and National Commercial Bank gained 1 cent to land at $1.68 with 20,573 shares changing hands. Losses| JMMB Group ended with […]

  7. […] The strong move was aided by a $5.07 jump in the price of Desnoes and Geddes shares and gains in National Commercial Bank which ended at $32.99. The market climbed sharply for the third day as advancing stocks outpaced […]

  8. […] market segments, and with three junior market stocks ending at new 52 weeks’ closing high, while National Commercial Bank traded at a 52 weeks’ intraday high. The main market indices enjoyed another day of decent gains. […]

  9. […] 16,146 shares changing ownership and dropping 4 cents. JMMB Group traded 26,700 units at $7.64, National Commercial Bank had 230,441 units trading between $28.34 and $31 but last traded at $31, for a gain of $2.80, Pan […]

  10. […] and the junior market is up 2.45 points to 982.77. Grace Kennedy traded 2,000,000 shares at $64, National Commercial Bank had 1,073,614 trading between $27.72 to $30, where the price sits now, other useful trades are, […]

  11. […] low volumes for individual stocks as the main market indices rose moderately, thanks to gains in National Commercial Bank (NCB) late in the trading session thus reversing declines in prior to this trade with the stock […]

  12. […] National Commercial Bank dropped back $2.49 in early trading on Tuesday but this morning the stock had 400,000 units trading at $30. Carreras traded 201,440 at $50, Jamaica Stock Exchange lost 25 cents with 100,000 shares to $7.55, Proven Investments 429,388 units trading was at 20 US cents. In the junior market Lasco Financial Services has traded 577,000 at $1.80. The market have so far seen trading in 18 securities with a volume of 1,756,025 units and 4 stocks declining and 3 rising. Trading activity resulted the JSE Market Index rising 587.66 points to 98,864.87. The JSE All Jamaican Composite index climbed 656.84 points to 109,443.35 and the JSE combined index gained 544.78 points to be at 102,181.25. The junior market fell 1.02 points to 989.75. […]

  13. […] National Commercial Bank dropped back $2.49 with only 5,000 to $27.51 a ripped out a large portion of the main market indices on a morning of very slow trading. The only other trades of note on the main market are 259,275 units of Cable & Wireless at 52 cents each and Proven Investments 8% preference share trading at $4.0 with 368,901 shares. The market has so far have trading in 14 securities with a volume of 747,689 units, with 2 stocks declining and 3 rising. Trading activity resulted the JSE Market Index falling 1,896.27 points to 98,236.27. The JSE All Jamaican Composite index dropped 2,119.51 points to 108,740.75 and the JSE combined index lost 1,774.90 points to be at 101,426.89. The junior market rose 1.45 points to 971.89. […]

  14. […] with 46,705 shares changing hands 3 cents higher at $22.54 a total value of valued at $1,052,276, National Commercial Bank traded just 2,000 shares to close 3 cents higher at $1.63 and Scotiabank closed with 4,000 shares […]

  15. […] with 6,000 shares changing hands to close at a 52 weeks’ high of $7.20 for a gain of 4 cents. National Commercial Bank traded 390,891 shares to end lower by 98 cents to $28.02, Palace Amusement traded 6,300 shares at […]

  16. […] valued at $413,509 and closed at $22.51. Guardian Holdings added 20,000 shares to close at $12.90, National Commercial Bank traded 5,664 shares at $1.52, Sagicor Financial Corporation closed with 42,135 shares changing hands […]

  17. […] $9 with only 9,990 shares changing hands. Mayberry Investments had 50,000 shares trading at $3.40, National Commercial Bank traded 62,888 shares at $30, Palace Amusement gained $5 in trading 566 shares to end at $65, […]

  18. […] lows. The stock has been under pressure for months having fallen from $122.05 last year July and National Commercial Bank also fell but by just 5 cents to end at $1.58 with 14,636 shares changing hands. The fall in […]

  19. […] funding, by way of a bond, to repay the construction loan received from Jamaica Mortgage Bank and National Commercial Bank has been secured and will be paid on the completion of the buildings, Lee stated. Construction of […]

  20. […] Declines| Firstcaribbean International Bank traded 1 cent lower, with 2,058 units and closed at $5. National Commercial Bank traded 8,000 shares at $1.63 with a loss of 2 cents, Unilever Caribbean with 20 units changing […]

NCB profit respectable not electric

National Commercial Bank (NCB), released nine months results after trading closed, showing net profit of $8.554 billion, compared to restated net profit of $8.97 billion for the prior year. Profit also slipped in the June quarter, to $3.15 billion from the net profit for the three months to June 2014 of $3.4 billion, even as wages fell to $2.7 billion from $2.86 billion in 2014 and $3.3 billion in March.
NCB HQEarnings per share ended at $1.29 cents for the quarter and $3.48 for the nine months, full year earnings should be around the $5 region.
Net interest income is up on both the March quarter this year and the June quarter last year growing to $6.42 billion from $6.40 billion in March and $6.13 in June 2014. Gross interest income contracted to $9.17 billion from $9.33 billion in June 2014. Commission and fee income rose to $2.39 billion net, from $2.26 billion in March and $2.09 billion in 2014.
Foreign exchange and investment income fell sharply to $827 million from $1.08 billion in March and $1.13 billion in 2014. All income net of interest and commission cost climbed to $11.68 billion in the latest quarter from $11.67 billion in March and $11.1 billion, in last year’s June quarter. Loan loss provisions climbed to $472 million in the latest quarter from $353 million In March and $357 million in the June 2014 quarter. Policyholders’ and annuitants’ benefits and reserves jumped sharply in the June 2015 quarter to $1.32 billion from only $696 million in March and $1.1 billion last year.
Profit before associated company results, came in at $4.22 billion versus $4.27 billion in the March quarter, and $4.36 billion in the June 2014 quarter. Earnings from associated companies declined from $151 million in the March quarter, to a mere $6 million, thanks to a poor March quarter at JMMB Group, a company in which it owns a large block of shares. Last year NCB booked $311 million in this category, including their share of profits at Kingston Wharves which was sold in the September quarter, last year.
For the nine months period, net income rose from $31.9 billion to $35.32 billion but cost climbed as well hitting $24.08 billion from $21.56 billion, mostly as a result of other operating expenses that moved from $7.1 billion to $9.17 billion. Corporation taxes jumped from $2.37 billion to nearly $3 billion pushing pretax profit of $11.55 after tax, below that of the prior year that had pretax profit of $11.34 billion.
Loans have grown by 6.7 percent since June 2014 to reach $162.26 billion while investments funds declined to $259 billion from $264 billion over the same period.
The Board of Directors, declared an interim dividend of $0.45 per ordinary stock unit. The dividend is payable on August 21, 2015 for stockholders on record as at August 10, 2015.
The stock which is listed on the Jamaica Stock Exchange last traded at $29.30 for a PE ratio of less than 6.

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