NCB ends at $28 in Trinidad Thursday

NCB closed up by $1.50 at $25 on Wednesday

NCB closed up by $1.50 at $25 on Wednesday

National Commercial Bank (NCB) closed trading on the Trinidad & Tobago Stock exchange on Thursday at a new 52 weeks’ high of $1.55, the equivalent of J$28, having jumped 14 TT cents from Wednesday’s close.
A total of 60,000 shares were traded in Trinidad on Thursday. At the close the bid on the stock was TT$1.55 for 42,395 shares with no stock on the offer for sale
In Jamaica 184,000 unit of the stock traded between $24.10 and $25 with the majority at $25. There are only three offers on the board for 275 units at $25.50, 103,873 at $30 and 503 shares at $33.
NCB demand flows from good 2014 results with earnings of $4.73 cents per share and a hike in its dividend payments as well as robust first quarter results to December and the high level of undervaluation of the stock.
Loans grew by $8.7 billion, or 6 percent to $157 billion at the end of December last year from the similar period in 2013. Net profit of $2.1 billion, a decrease of 15 percent, or $368 million from the $2.5 billion earned in 2013 but the booking of the tax on assets was done in full in the December 2014 quarter instead of being spread over the entire year. This added $670 million to cost compared to 2013 resulting in the net profit getting a hit of roughly $400 million.
NCB reported that “gain on foreign currency and investment activities, up by $861 million. This was due to higher levels of foreign exchange income and gains from the sale of debt securities in the December 2014 quarter. Net fee and commission income, increased by $465 million or 22 percent, mainly due to Payment Services fees, related to card usage and transaction volumes, credit related fees from the growth in loans and greater corporate finance and unit trust fees, booked in the current period, net interest income, increasing by 2 percent, or $151 million, primarily due to growth in net loans and advances and investment securities portfolios.”

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  1. […] National Commercial Bank is reporting net profit for the three months ended March 2015 of $3.27 billion versus $3.05 billion in the 2014 period was $3,341 million. Changes in the manner the tax of the groups assets are now being treated with all amounts due being booked as expenses up front has distorted the results in the early months of the fiscal year which are front loaded with these cost. Normalising the expenses would result according to NCB in net profit for the three months ended March 2015 of $3.34 billion, 20 percent or $563 million over normalised net profit for the December 2014 quarter of $2,778 million, and 12 percent or $349 million over the previously reported net profit for the three months ended March 2014 of $2.99 billion. For the six months to March the banking group reported profit of $5.4 billion or $2.19 per shares compared with $5.55 billion in 2014. The up-fronting of the asset tax, resulted in the lower 2015 profit compared to 2014. NCB should go on to earn around $7 billion in the second half of the year or around $5 per share for the full year. For the six months to March 2015, operating income increased by14 percent, or $2.9 billion, compared with the six months ended March 2014, mainly as a result of gain on foreign currency and investment activities, up by $1.5 billion. This was due to higher levels of foreign exchange income and gains from the sale of debt securities compared to the prior year, NCB said. Net fee and commission income, increasing by $652 million or 16 percent, mainly due to Payment Services fees related to card usage and transaction volumes, credit related fees from the growth in loans and greater corporate finance and unit trust fees booked in the current period. Net interest income, increasing by 4 percent, or $542 million, primarily due to growth in the net loan portfolio. Loans and advances, totalled $157.9 billion (net of provision for credit losses) at March 2015, grew by 5 percent, or $7.4 billion, compared to the loan portfolio as at March 2014. NCB declared an interim dividend of 45 cents per ordinary stock unit which is payable on May 21 for stockholders on record as at May 8, 2015. […]

  2. […] hands and ending with 4,735,155 units trading, valued at $24,434,254, in all market segments. National Commercial Bank, closed at a new 52 weeks’ high of $26.50 with 301,200 shares changing hands at 50 cents higher […]

  3. […] branches in that territory. IC Insider’s source informs us that Michael Lee Chin, Chairman of National Commercial Bank has been seen on the island frequently in recent times, but a comment from National Commercial […]

  4. […] Producers, Sagicor Group and National Commercial Bank dominated trading on the Jamaica Stock Exchange on Friday with a combined total of 8.45 million […]

  5. […] shows 14 stocks with bids higher than their last selling prices and 5 with offers that were lower. National Commercial Bank traded up to $25.50 with a gain of 50 cents with 91,911 units changing hands, there were 673,941 […]

  6. […] National Commercial Bank had 231,819 shares changing hands, to close at $25.50, with a gain of 50 cents, but traded as low as $25 and ending with 679,541 units on the offer at $25.50, with bids for 62,175 units at $25.01. Sagicor Group had 56,189 units trading to close 30 cents higher at $10.50 after trading as low as $10.25, at the close, 29,402 units were on offer at $10.50 and just above that, 1 million units for sale at $10.60. Scotia Investments traded 81,250 units at $23.80 with a gain of 22 cents but closed with a bid of $23.60 to buy 52,510 units while offers were at $23.80 to sell 199,850 units. Supreme Ventures closed trading with 153,850 at $2.30 and Jamaica Money Market Brokers 7.50% traded 370,000 shares at $2. […]

  7. […] at $4.80, Guardian Holdings contributed 15,000 shares with a value of $217,500 to end at $14.50. National Commercial Bank with 40,000 shares changing hands at $1.55, National Enterprises with 6,600 shares to end at $17.35, […]

  8. […] hands, and closing at $5, Guardian Holdings contributing 1,154 shares closing unchanged at $14.50. National Commercial Bank trading 3,100 units at $1.55, National Flour Mills traded 1,847 shares at $1.50, One Caribbean […]

  9. […] on the Trinidad Stock Exchange ended on Monday with National Commercial Bank trading at a new 52 weeks’ high as 7 securities changed hands of which 3 advanced, 2 declined and […]

  10. […] Market Brokers saw trading in 2,507,430 ordinary shares with the price rising 3 cents to $6.95. National Commercial Bank finishing trading with 48,107 units to close with a gain of 14 cents at $24.85, Scotia Group […]