Sun | May 26, 2019

NCB revenues jump 33% to $20B in third quarter

Published:Thursday | July 26, 2018 | 5:16 PM

The nation’s largest bank, National Commercial Bank Jamaica (NCBJ) reported double-digit rises in revenues and net profit for the June third-quarter 2018 when compared with a year earlier.

Earning per share totalled $2.79 for the June quarter, compared to $2.14 a year earlier.  Over nine months the company reported earnings per share of $8.42, compared to $5.98 a year earlier.

The financial conglomerate indicated that it benefited from increased core activity and gains from foreign currency and investment activities.

It made revenues of $20.2 billion for the quarter, compared to $15.05 billion a year earlier or 33 per cent higher year-on -year. 

NCBJ made profit after tax of $7 billion for the quarter, compared with $5.25 billion a year earlier or 33 per cent higher year-on-year.

“We have achieved our highest results to date and exceeded the annual results for the 2017 financial year,” indicated management in its discussion prefacing the financials.

- steven.jackson@gleanerjm.com