$350 billion revenues in sight at NCB

NCB Financial head office in Kingston, Jamaica.

Gross revenues at Jamaica’s largest financial entity, NCB Financial Group, could hit $350 billion in 2020 data from the 2019 full year results suggests and would represent a significant rise from total revenues of $167 billion generated in 2019.
Total revenues jumped 128 percent in the September quarter to $81.3 billion, helped by the acquisition of a majority stake in Guardian Holdings and climbed 30 percent to $166.7 billion.  Guardian also contributed $580 billion to the Group’s total assets of $1.6 trillion.
NCB produced record profit in the twelve months to September, this year with profit attributable to NCB shareholders, growing 6 percent to $29.6 billion from $27.96 billion in 2018 with growth of 21 percent from $8.8 billion in the September quarter from $7.3 billion in 2018 quarter.
More importantly, profit from ongoing operations rose marginally from $28.69 billion for the year to September 2018, to $28.73 billion in 2019 and for the quarter, it rose 12 percent from $7.98 billion in 2018 to $8.97 billion. As impressive as the numbers suggest, not all things went well for the group. It suffered a significant loss from the loan portfolio having to book $4 billion in loan loss provision up 104 percent over $1.96 billion booked in 2018.
While the focus by many investors is on profit before other comprehensive profit, a closer look indicates that profit from normal operations does not tell the full story. Total profit for the year ended at $37.5 billion, up from $21.4 billion in 2018 with earnings per share of $15 for 2019.

Advantage General branch offices in Montego Bay Jamaica


Commercial and consumer division reported a loss of $414 million, compared with a profit of $2.75 billion, as a result of credit impairment losses moving from $1.1 billion to $4.1 billion in 2019. Payment services contributed $3.6 billion to profits from $2.9 billion in 2018. Corporate banking delivered $5.2 billion to earnings in 2019 from $3.4 billion to in 2018. Treasury and correspondent banking made the most significant impact on profit for 2019 with a profit of $9.9 billion but rose just a mere 3.6 percent from $9.55 billion in 2018. The group’s investment arm profits grew 8 percent to $9.9 billion from $9.2 billion, life insurance contributed $18.7 billion, up from $9.5 billion and general insurance saw profit more than doubling to $2.33 billion from $1 billion.
Interest income in the September quarter rose 43 percent to $20.5 billion from $14 billion and 28.6 percent for the year ended September to $67 billion from $52 billion in 2018. Interest expense increased 34 percent to $6 billion in the quarter, compared to a 20 percent increase for the year to $20.5 billion. Net interest income in the year was 33 percent higher than 2018, climbing to $46.7 billion from $35 billion and 47 percent in the quarter to $14.3 billion from $9.7 billion in 2018, resulting from an increase in the local loan portfolio and the 5 months results of GHL.
Fees and commission income grew 28.6 percent in the quarter to $7 billion from $5 billion in 2018 and 20 percent for the year, to $24 billion from $20 billion. Net fees and commission income ended the year at $19 billion, after increasing 21 percent from $16 billion in the prior year, with the September 2019 quarter climbing 39 percent from $4.2 billion to $5.8 billion.
For the quarter, insurance premium income skyrocketed to $33.5 billion from $2 billion and 539 percent for the year to $61 billion from $9 billion, which was due mainly to the consolidation of GHL results. Net insurance income in the year jumped 280 percent to $14.4 billion from $3.8 billion and 334 percent in the September quarter from $1.7 billion to $7.3 billion, of which GHL contributed $7 billion. Operating expenses rose 84 percent to $22.6 billion in the quarter and increased 49 percent in the twelve months to $64.7 billion and includes was staff cost which increased 45 percent in the quarter to $10 billion from $7 million in 2018 and for the year, 35 percent from $24 billion to $32 billion.
At the end of the year, shareholders’ equity stood at $146.6 billion, customers’ deposits and other funds placed by customers with the group rose to $731 billion from 697 billion in 2018. Total assets ended the period at $ 1.6 trillion inclusive of loans and advances of $423 billion, compared to 4373 billion in 2018. Investment securities rose to $760 billion from $391 billion.

NCB Financial Montego Bay branch

The group while acquiring additional shares in GHL taking its holdings to a majority of 61.97 percent, Advantage General Insurance was sold at the end of the fourth quarter, resulting in a gain of $2.6 billion. Additionally, $3.3 billion was realised from the disposal of its associated interest in JMMB in the first quarter of the financial year.
An interim dividend of 90 cents per share will be paid on December 6 to shareholders on record on November 22.
Earnings per share came out at $3.69 for the quarter and $8.49 for the nine months and ended the financial year at $12.18, but excluding the one-time capital gains earnings per share would have been closer to $10. The stock last traded at $205 on the Jamaica Stock Exchange and at TT$10.85 on the Trinidad and Tobago Stock Exchange at 14 times 2020 estimated earnings.

NCB Q3 profit jumps 33%

NCB Financial Group HQ.

NCB Financial Group delivered net profit of $14.7 billion for the nine months ended June 30, 2017, an increase of 48 percent over the prior year’s nine months profit of $9.9 billion. For the June quarter net profit climbed from $3.94 billion to $5.25 billion in 2016 for the group.
The overall performance resulted in earnings per share of $2.14 for the latest quarter and $5.98 for the nine months. Loans and advances, net of provision for credit losses, increased by $32 billion or 18 percent to $212.0 billion at June 30, 2017. The growth was primarily driven by a 23 percent increase in the Retail Banking portfolio. Non-performing loans totaled $5.6 billion at June 2017, representing 2.6 percent of the gross loans compared to 4.8 percent at the end of June 2016 amounting to $8.8 billion.
The board of directors in their report on the nine months results stated that, “Operating income increased by $6.2 billion or 16 percent over the prior year, to $44.2 billion. The improved revenues were primarily driven by: Net fee & commission income growing by 31 percent or $2.4 billion. The growth stemmed from our continued focus on sale effectiveness, improving the penetration into our Investment Banking services, and growing the Unit Trust portfolios, coupled with increases in pension management fees. Additionally, our focus on providing our customers with non-branch channel and digital options has led to volume growth in point of sale and e-commerce transactions. Gains on foreign currency and investment activities growing by $2.5 billion or 80 percent. Net interest income increasing by 5 percent or $1.2 billion, as a result of growth in the loan portfolio.”
“Operating expenses of $28 billion grew by 9 percent or $2.3 billion over the prior year, driven by:  Staff costs increasing by $1.9 billion or 18 percent mainly as a result of the negotiated increases in salaries, wages, allowances & benefits. Other operating expenses growing by $1.1 billion or 11 percent primarily as a result of increased asset tax charges, property and ABM maintenance expenses and professional fees resulting from the execution of strategic initiatives.”
The banking group segments delivered strong gains in revenues and profit except for General Insurance. Retail and SME segment enjoyed an increase of 13 percent in net revenues to $13.86 billion and segment profit rising 33 percent to $1.6 billion.

Advantage General suffered a fall in profit for the NCB Group.

Payment Services recorded an increase of 15 percent in net revenues to $5.2 billion with segment profit rising 31 percent to $1.75 billion, Corporate Banking net revenues grew 39 percent to hit $3.6 billion with segment profit climbing a very strong 64 percent to $2.47 billion. Treasury and Correspondent Banking net revenues increased 35 percent to $6.98 billion and segment profit rose 41 percent to $5.67 billion, Wealth, Asset Management and Investment Banking saw an increase of 25 percent in net revenues to $6.6 billion and segment profit rising 27 percent to $4.6 billion, Life Insurance and Pension Fund Management net revenues grew 14 percent to $5.6 billion, with segment profit rising 22 percent to $3.48 billion. Revenues at the General Insurance segment fell 7 percent to $4.4 billion with segment profit slipping 7 percent to $893 million and Other contributed an increase of 34 percent in revenues to $195 million and segment profit rising 55 percent to $126 million.
The Board of Directors, declared an interim dividend of $0.60 per ordinary stock unit payable on August 29, for stockholders on record as at August 15, 2017. The NCB stock closed on the Jamaica Stock Exchange at $80 on Friday having traded earlier the day at $81 after the release of the results.

Обновили на порносайте pornobolt.tv порно страничку о том как парень выебал пизду мачехи, которая устала от своего муженька Комиксы, Манга читать онлайн на Русском языке

Brand new Partner with our doctors to make you happy is Omtogel RTP

Play Pin-up aviator Slots and e-Diet in Polska.