National 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.
The 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.
NCB increases profit & dividend
3 new lows on TTSE – Tuesday
Scotiabank closed at a 52 weeks’ low on TTSE on Friday
Activity on the Trinidad and Tobago Stock Exchange continued to reflect a negative tone with moderate trading with 16 securities being active on Tuesday. The market closed with 2 stocks gaining, 4 declining with the prices of 10 remaining unchanged while 3 securities closed at 52 weeks’ low. A total of 442,470 shares changed hands valued at $11,853,292.
The Composite Index slipped 2.06 points to 1,162.50, the All T&T Index lost 4.11 points to 1,933.64 and the Cross Listed Index remained unchanged to close at 51.61.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator remains with a high degree of negativity with only 2 stocks with bids higher than the last selling price and 10 stocks or 25 percent of listings with offers that were lower.
Gains| Guardian Holdings had 7,643 units changing hands and gained 4 cents to close at $14.15 and Unilever Caribbean ended with 80,000 shares valued at $5,425,600 changing hands with a gain of 2 cents at $67.82.
Losses| Clico Investment Fund traded 42,892 shares valued at $969,213 but lost 13 cents to close at $22.60, Massy Holdings lost 4 cents to end with 50 shares changing hands at a 52 weeks’ low of $59.90. Scotiabank traded 2,000 shares but fell 69 cents to a 52 weeks’ low of $61 and Trinidad and Tobago NGL contributed 66,011 shares with a value of $1,326,933 but lost 69 cents, in closing at a 52 weeks’ low of $20.10.
Firm Trades| ANSA McAL contributed 10,005 shares at $66.25 for a value of $662,831,
Calypso Macro Index Fund traded 122 units at $25, First Citizens had 17,714 shares valued at $619,990 trading to end at $35, Grace Kennedy traded 7,500 units, to close at $4.10. National Commercial Bank traded 133,554 shares changing hands for a value of $304,710 to end at $2.28, One Caribbean Media added 55,895 shares valued at $1,229,690 to close at $22, Republic Financial Holdings closed at $112 as 8,970 shares valued at $1,004,640 changed hands. Sagicor Financial ended with 500 shares changing hands at $6.50, Scotia Investments ended with 9,419 units changing hands at $1.58 and West Indian Tobacco traded 195 units to close at $126.30.
TTSE closes with 3 new lows on Wednesday
Guardian is the only stock to gain in trading on Wednesday
Activity on the Trinidad and Tobago Stock Exchange continued with moderate trading in 13 securities on Wednesday with negative overtones as 3 securities closing at 52 weeks’ low. The market closed with 1 stock gaining, 4 declining with the prices of 8 remaining unchanged. A total of 94,178 shares changed hands valued at $2,145,357.
The Composite Index ended with a fall of 0.39 points to 1,163.41 the All T&T Index lost 0.98 points to 1,938.30 and the Cross Listed Index remained at 51.22.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator has turned negative with only 3 stocks with bids higher than the last selling price and 6 stocks with offers that were lower.
Gains|Guardian Holdings traded with units changing hands and gained 49 cents to close at $14.
Losses| Angostura Holdings ended with 49 shares changing hands, to close with a loss of 1 cent at a 52 weeks’ low of $13.60, First Citizens lost 1 cent with 649 shares trading, to end at $34.99. Massy Holdings traded 150 units and dropped $1.30 to end at a 52 weeks’ low of $60 and Scotiabank contributed 12,815 shares with a value of $790,557 to close with a loss of 9 cents at a 52 weeks’ low of $61.69.
Firm Trades| Calypso Macro Index Fund traded 192 units at $25, Clico Investment Fund traded 400 shares to close at $22.75, Grace Kennedy traded 1,000 shares at $4.06, JMMB Group traded 36,000 shares at 55 cents, Republic Financial Holdings closed at $112 as 582 shares changed hands. Sagicor Financial Corporation ended with 4,282 shares changing hands at $6.50, Scotia Investments closed with 1,897 shares changing hands at $1.52 and Unilever Caribbean added 12,700 shares valued at $860,425 to close at $67.75.
Citizens trades big on TTSE – Tuesday
Activity on the Trinidad and Tobago Stock Exchange continued low keyed activity prices with trading in 14 securities on Tuesday but with First Citizens dominating with a trade of $5.5 million. All three market indices rose marginally as 4 stocks advanced, 3 declined, with the prices of 7 remaining unchanged. A total of 902,619 shares changed hands valued at $7,566,997.
The Composite Index ended with a gain of 1.26 points to 1,163.17 the All T&T Index fell 0.26 points to 1,942.04 and the Cross Listed Index gained 0.31 to end at 50.64.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator had 4 stocks with bids higher than the last selling price and 10 stocks with offers that were lower.
Gains| Grace Kennedy gained 2 cents and closed at $4.06 with 1,586 shares changing hands, Guardian Holdings gained 6 cents to end at $13.42 with 359 shares traded. JMMB Group closed with 679,212 shares valued at $370,877 changing hands to gain 2 cents at $22.75 and National Commercial Bank closed with a gain of 5 cents at $2.25 while trading 43,208 shares.
Declines| Praetorian Property Mutual Fund contributed 4,000 shares and fell 9 cents to end at $3,for a 52 weeks’ low,
Sagicor Financial Corporation closed with 100 shares changing hands and ended with a fall of 1 cent to $6.49 and Trinidad and Tobago NGL slipped 2 cents in trading to close at $21.47 with 90 units.
Firm Trades| Ansa Merchant Bank traded 1,000 units at $38.96, Clico Investment Fund traded 21,560 shares valued at $490,490 to close at $22.75, First Citizens had 156,227 units valued at $5,467,945 changing hands at $35, One Caribbean Media traded 2,185 shares at $22, Prestige Holdings contributed 1,803 shares to end at $10.17. Republic Financial Holdings closed at $112 with 8,616 shares valued at $964,992 changing hands and Unilever Caribbean ended with 673 shares trading to close at $67.75.
TTSE starts 2016 on negative note
Activity on the Trinidad and Tobago Stock Exchange started 2016 on a negative note with the two main indices as 3 stocks advanced and 3 declining but with National Enterprises falling sharply as the market closed with 10 active securities with the prices of 4 remaining unchanged. A total of 218,617 shares changed hands valued at $3,451,788.
The Composite Index ended with a fall of 1.90 points to 1,160.40, the All T&T Index fell 4.51 points to 1,943.99 and the Cross Listed Index rose 0.10 points to end at 49.61.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator had 6 stocks with bids higher than the last selling price and 4 stocks with offers that were lower.
Gains| Guardian Holdings ended with 260 shares trading at $13.25, for a 2 cents gain, National Commercial Bank closed at $2.11 with a I cent gain while trading 14,610 shares and Sagicor Financial Corporation rose 5 cents in trading 9,248 shares and closed at $6.25.
Declines| Angostura Holdings closed with 20,000 shares changing hands with a 2 cents loss to end at $13.95, National Enterprises with 66,090 shares changing hands for a value of $1,057,442, dropped 37 cents to end at a 52 weeks’ low of $16 and Grace Kennedy closed with a loss of 1 cent at $4.04 with 27,606 shares changing hands.
Firm Trades| Trading in Clico Investment Fund traded 28,926 shares valued at $658,067 but remained at $22.75, First Citizens ended with 450 units changing hands at $35, One Caribbean Media had 2,041 units changing hands at $22 and Trinidad and Tobago NGL ended at $21.50 with 46,875 shares changing hands, valued at $1,007,812.
Republic & NGL dominate TTSE – Tuesday
Republic Financial Holdings enjoy big trade on the TTSE
At the close, activity ended with 323,414 shares changing hands valued at $10,848,081, the Composite Index ended with a fall of 0.11 points to 1,158.46, the All T&T Index declined 0.88 points to 1,948.54 and the Cross Listed Index gained 0.19 points to end at 48.46.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with bids higher than the last selling price and 7 stocks with offers that were lower.
Gains| FirstCaribbean International Bank traded 987 shares and closed at $5.01 with a 1 cent rise and Unilever Caribbean ended with 4,105 shares trading with a gain of 31 cents, for a new 52 weeks’ high of $68.49.
Declines| ANSA McAL contributed 333 shares but lost 29 cents in closing at $66.99.
Firm Trades| Clico Investments traded 19,280 shares valued at $438,620 to close at $22.75, Guardian Holdings held firm at $13.20 with 100 shares trading,
JMMB Group traded 50,532 shares shares to close at 51 cents, One Caribbean Media traded 7,805 units to end at $22. Republic Financial Holdings, the new entity holding shares in Republic Bank, ended with 51,590 shares valued at $5,772,405 changing hands at $111.89. Sagicor Financial Corporation closed with 1,481 shares changing hands, to end at $6.05, Trinidad and Tobago NGL traded at $21 with 185,398 shares for changing hands, valued at $3,893,358 and West Indian Tobacco ended with 1,803 shares trading to close at $126.25.
Prices continue down on TTSE – Thursday
Guardian is the only stock to gain in trading on Thursday
Activity ended with 108,171 shares changing hands valued at $1,521,787. One stock closed at 52 weeks’ low. At the close, the Composite Index ended with a fall of 1.53 points to 1,159.06, the All T&T Index fell 0.53 points to 1,949.43 and the Cross Listed Index slipped 0.34 points to 48.50.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 4 stocks with bids higher than the last selling price and 7 stocks with offers that were lower.
Gains| Guardian Holdings was the sole stock rising with 10,493 shares traded with a gain of 3 cents to end at $13.10.
Declines| First Citizens Bank lost 1 cents while 100 shares changing hands, at $34.98, Guardian Media traded 47,310 shares but lost 1 cent end at $19.75, Massy Holdings traded 200 units and lost 3 cents to end at a 52 weeks low of $61.50. National Commercial Bank lost 5 cents to end with 49,143 units changing hands at $2.05 and Unilever fell 10 cents with 4,533 units changing hands at $68.15Firm Trades| Clico Investments traded 6,835 units to close at $22.75 and West Indian Tobacco closed at $126 with 50 shares changing hands.
NCB drops back on TTSE – Friday
National Commercial Bank retreated from the 52 weeks’ high reached on Thursday in trading on the Trinidad and Tobago Stock Exchange when the market closed on Friday. Activity ended with 9 active securities as the prices of only 3 rose, 4 declined and 2 traded unchanged. The volume changing hands was 657,676 shares for a value of $2,324,384.
At the close, the Composite Index ended with a fall of 3.36 points to 1,164.24, the All T&T Index fell 0.76 points to 1,954.41 and the Cross Listed Index slipped 0.81 points to 49.23.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with the bids higher than the last selling price and 7 stocks with offers that were lower.
Gains| Grace Kennedy ended with a gain of 1 cent at $3.62 while 1,000 shares changed hands, Massy Holdings with a volume of 286 shares gained 1 cent in closing at $61.66 and Sagicor Financial gained 1 cent and ended with 3,000 shares changing hands at $6.17.
Declines| National Commercial Bank lost 20 cents while trading 437,722 shares valued at $943,898 to close at $2.10. 
National Flour closed with the loss of 1 cent with 18,535 shares changing hands at $2.74, Trinidad and Tobago NGL traded 2,340 shares and lost 1 cents to close at $21.49 and Trinidad Cement ended with a loss of 4 cents at $4.47 while 10,000 shares traded.
Firm Trades| Clico Investments traded 15,257 shares to close at $22.75 valued at $347,089 and FirstCaribbean International Bank traded 169,535 shares valued at $847,685 and closed at $5.
NCB only rising stock on TTSE – Thursday
NCB closes at new high again on TTSE
At the close, the Composite Index ended with a rise 3.03 points to 1,167.60 the All T&T Index was unchanged at 1,955.19 and the Cross Listed Index gained 0.83 points to 50.04.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 5 stocks with the bids higher than the last selling price and 8 stocks with offers that were lower.
Gains| National Commercial Bank rose by 10 cents while trading 125,000 shares to close at $2.30 for a 52 weeks’ high.
Firm Trades| Agostini’s traded 100 shares at $17.25, Clico Investment Fund posted 211 shares and closed at $22.75, First Citizens Bank traded 150 shares to close at $35,
FirstCaribbean International Bank traded 40 shares and closed at $5. Guardian Holdings ended at $13.03 with 913 units changing hands, National Flour closed with 24,000 shares changing hands at $2.75, One Caribbean Media ended with 12,190 units changing hands at $22. Sagicor Financial ended with 15,823 shares changing hands at $6.16, Trinidad and Tobago NGL traded 23,015 shares valued at $494,745, to close at $21.50 and West Indian Tobacco traded just 1,809 shares to close at $126.25.
New NCB high on TTSE – Wednesday
NCB closed at a new 52 weeks’ high on the TTSE on Wednesday
At the close, the Composite Index ended with a rise 0.46 points to 1,164.57 the All T&T Index fell 1.36 points to 1,955.19 and the Cross Listed Index gained 0.31 points to 49.21.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 2 stocks with the bids higher than the last selling price and 6 stocks with offers that were lower.
Gains| National Commercial Bank rose by 9 cents while trading 55,553 shares to close at $2.20 for a 52 weeks’ high.
Declines| Scotiabank ended with 2,276 shares with a fall of 50 cents changing hands at $62 and Trinidad Cement traded 6,479 units and closed at $4.50 after losing 5 cents.
Firm Trades| Clico Investment Fund posted 5,430 shares and closed at $22.75, First Citizens Bank traded 6,323 shares to close at $35, FirstCaribbean International Bank traded 30,000 shares and closed at $5. Grace Kennedy traded 2,255 units to end at $3.61, Guardian Holdings ended at $13.03 with 425 units changing hands, JMMB Group closed with 324 shares changing hands at 50 cents and Trinidad and Tobago NGL traded 55,755 shares valued at $1,198,733, to close at $21.50.