Sat | May 25, 2019

Boost salaries with NCB profit

Published:Wednesday | November 14, 2018 | 12:00 AM


It is a great thing that National Commercial Bank (NCB) has posted yet another massive net profit for its 2017-2018 financial year, a 17 per cent increase, over the previous financial year.

The more annual profits that private-sector companies in corporate Jamaica garner, the more critical government tax revenues will be earned, the more investments in Jamaica will be had, the more shareholders in those entities will benefit, and the more available funds there will be to assist charitable organisations to sponsor sporting events and to assist in implementing policies aimed at preserving Jamaica's environment.

I trust that NCB will use a portion of their net profits to increase the salaries of their employees, not only those at the executive levels of the organisation but, also, those at the mid- and lower levels of NCB.

Doing so will also result in strengthening the spending power of those valuable employees and, by extension, will bolster the local economy, particularly at a time when machines are, increasingly, replacing staff members.

Well done, NCB!