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NCB Capital Market targets JSE Junior Market companies for on-lending

Published:Monday | January 11, 2016 | 1:00 AMKeisha Hill
GraceKennedy Group CFO Frank James (right), greets (from left) Steven Gooden, CEO of NCB Capital Markets; Brian Frazer, vice president, Asset Management and president of CFA and Gregory Samuels.
From left: Garth Pearce, manager, Investment Banking, NCBCM; Steven Gooden, CEO, NCBCM; Milverton Reynolds, managing director, DBJ; and Edison Galbraith, general manager, loan origination and portfolio management, DBJ, shake on it after signing the agreement.
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NCB Capital Markets (NCBCM) has strengthened its position in the equity capital market and will now give direct focus to the debt-financing needs of companies listed on the JSE Junior Market. This follows the company's recent designation as an Approved Financial Institution (AFI) by the Development Bank of Jamaica (DBJ) last October.

As the wealth, asset management and investment banking arm of the National Commercial Bank, NCBCM offers full service investment and financing options for individuals and institutions. Currently one of the largest stock brokers in Jamaica, NCBCM has held the number-one position for value traded on the Jamaica Stock Exchange Main Market over the last two years.

Among its recent mandates are leader broker for Heineken's mandatory offer to D&G's minority shareholders and the recently launched tTech IPO, which was significantly oversubscribed.

NCBCM's newly acquired AFI status means the institution is now qualified to receive more than J$7 billion in funding from the DBJ for direct on-lending to Small and medium-sized enterprises (SME's) and large business entities.

 

GROWTH POTENTIAL

 

However, according to Chief Executive Officer (CEO) Steven Gooden, along with the Junior Market companies, NCB Capital Markets has particular interest in companies in the business process outsourcing (BPOs) and the tourism sectors, especially those contemplating a public listing over the short to medium term. This focus, the CEO explained, comes in light of the growth potential of these areas, and serves to further the group's stance as a major supporter of small, medium and large enterprises.

"This initiative reinforces our commitment to providing financing solutions to SMEs. It also follows closely on the heels of the launch of our private equity initiative, NCB Capital Quest, as well as allows us to more actively engage companies within the junior market space," Gooden said.

The AFI designation further bolsters NCB's position as the leading financial group in the country, allowing it to better meet the financial-services needs of its customers. NCBCM joins the bank which previously qualified as an Approved Financial Institution offering funding to its varied clientele through the retail and corporate banking divisions.