Declared Dividend • May 20
Second quarter dividend of JA$0.50 announced Dividend of JA$0.50 is the same as last year. Ex-date: 22nd May 2026 Payment date: 5th June 2026 Dividend yield will be 3.9%, which is lower than the industry average of 4.8%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 1.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 13
NCB Financial Group Limited Approves Interim Dividend , Payable on March 16, 2026 NCB Financial Group Limited announced that at The Board of Directors, at its meeting on February 12, 2026, approved an interim dividend of $0.50 per ordinary stock unit. The dividend is payable on March 16, 2026, to stockholders on record as at March 2, 2026. Announcement • Jan 26
NCB Financial Group Limited, Annual General Meeting, Feb 13, 2026 NCB Financial Group Limited, Annual General Meeting, Feb 13, 2026. Announcement • Jan 08
NCB Financial Group Limited Appoints Dave Garcia As Group General Counsel And Chief Administrative Officer, Effective January 8, 2026 NCB Financial Group Limited has appointed Mr. Dave Garcia as Group General Counsel and Chief Administrative Officer for NCBFG effective January 8, 2026. In this expanded capacity, Mr. Garcia will retain his current duties as Group General Counsel and Corporate Secretary while assuming enhanced responsibilities to strengthen group-wide coordination, governance and execution, and leading strategic and enterprise-wide initiatives sponsored by the office of the NCBFG Group Chief Executive Officer. Announcement • Aug 09
NCB Financial Group Limited Approves Interim Dividend, Payable on September 5, 2025 The Board of Directors of NCB Financial Group Limited at its meeting on August 7, 2025, approved an interim dividend of $0.50 per ordinary stock unit. The dividend is payable on September 5, 2025, to stockholders on record as at August 22, 2025. Announcement • Jan 24
NCB Financial Group Limited, Annual General Meeting, Feb 13, 2025 NCB Financial Group Limited, Annual General Meeting, Feb 13, 2025. Announcement • Jan 04
NCB Financial Group Limited Appoints Arvinder Bharath to the Board of Directors NCB Financial Group Limited (NCBFG) announced changes to the composition of its Board, in furtherance of its commitment to strengthen the governance of the Group. Mrs. Arvinder Bharath was appointed to the Board of Directors on January 2, 2025. She brings over 30 years of combined experience across different geographies in the banking, regulatory and technology industries. With the addition of Mrs. Bharath, the NCBFG Board complement now stands at 8, with the majority of directors deemed independent non-executive directors. Announcement • Dec 05
NCB Financial Group Limited Announces Executive Changes for NCBFG and National Commercial Bank Jamaica Limited NCB Financial Group Limited announced that Mr. Richard Look Kin will be appointed as Head of Group Risk Management for NCBFG and National Commercial Bank Jamaica Limited (NCBJ), effective December 4, 2024. Look Kin replaces Ms Allison Wynter, Group Chief Risk Officer – NCBFG and Chief Risk Officer – NCBJ. Ms Wynter will continue to provide support through a transition period.Mr Look Kin has over two decades of experience in the financial services sector across the Caribbean including enterprise risk management, investment management and corporate and investment banking. Announcement • Nov 30
NCB Financial Group Limited to Report Fiscal Year 2024 Final Results on Dec 16, 2024 NCB Financial Group Limited announced that they will report fiscal year 2024 final results on Dec 16, 2024 Reported Earnings • Nov 17
Full year 2024 earnings released: EPS: JA$6.33 (vs JA$3.30 in FY 2023) Full year 2024 results: EPS: JA$6.33 (up from JA$3.30 in FY 2023). Revenue: JA$120.0b (down 13% from FY 2023). Net income: JA$15.0b (up 98% from FY 2023). Profit margin: 13% (up from 5.5% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings. Announcement • Nov 16
NCB Financial Group Limited Announces Dividend, Payable on 13 December 2024 NCB Financial Group Limited announced dividend of JMD 0.50 per share. Ex-dividend date is 28 November 2024. Record date is 29 November 2024. The dividend will be payable on 13 December 2024. Announcement • Nov 08
NCB Financial Group Limited to Report Q4, 2024 Results on Nov 14, 2024 NCB Financial Group Limited announced that they will report Q4, 2024 results on Nov 14, 2024 Announcement • Aug 22
NCB Financial Group Limited Announces Dividend, Payable on 16 September 2024 NCB Financial Group Limited announced dividend of JMD 0.50. Ex-dividend date is 30 August 2024. Record date is 02 September 2024. The dividend will be payable on 16 September 2024. Reported Earnings • Aug 11
Third quarter 2024 earnings released: EPS: JA$2.11 (vs JA$2.38 in 3Q 2023) Third quarter 2024 results: EPS: JA$2.11 (down from JA$2.38 in 3Q 2023). Revenue: JA$28.9b (down 19% from 3Q 2023). Net income: JA$5.02b (down 8.5% from 3Q 2023). Profit margin: 17% (up from 15% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 27% per year, which means it is performing significantly worse than earnings. Announcement • Aug 06
NCB Financial Group Limited to Report Nine Months, 2024 Results on Aug 08, 2024 NCB Financial Group Limited announced that they will report nine months, 2024 results on Aug 08, 2024 New Risk • May 24
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 3.2% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 16% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (8.0% net profit margin). Shareholders have been diluted in the past year (3.4% increase in shares outstanding). Announcement • Mar 23
NCB Financial Group Limited Announces Board Changes NCB Financial Group Limited (NCBFG) announced the following changes to the composition of its Board: Mr. Gary Brown, who was elected to the Board of NCBFG at the Annual General Meeting in February, has been appointed Lead Independent Director; Mrs. Sandra Glasgow resigned as a director of NCBFG effective March 20, 2024, but will continue to serve as director on the Boards of NCBJ and Clarien Bank Limited. Announcement • Mar 21
NCB Financial Group Limited Appoints Howard L. Shearer to the Board of Directors NCB Financial Group Limited announced the appointment of Howard L. Shearer to the Board of Directors effective March 13, 2024. Mr. Shearer currently serves as the Chief Executive of Hitachi Canada and brings to the Board expertise in strategy, corporate governance, regulatory compliance, emerging technologies and enterprise risk management across multiple business domains. Mr. Shearer holds a Bachelor of Engineering (BEng) degree, a Global Professional Master of Laws (GPLLM) degree and is a distinguished Fellow of the Canadian Academy of Engineering (FCAE). Announcement • Feb 20
NCB Financial Group Limited Declares Dividend, Payable on March 18, 2024 NCB Financial Group Limited declared dividend of JMD 0.50, payable on March 18, 2024. Record date is March 4, 2024. Ex-dividend date is February 20, 2024. Reported Earnings • Feb 11
First quarter 2024 earnings released: EPS: JA$1.32 (vs JA$0.36 in 1Q 2023) First quarter 2024 results: EPS: JA$1.32 (up from JA$0.36 in 1Q 2023). Revenue: JA$40.6b (up 37% from 1Q 2023). Net income: JA$3.08b (up 268% from 1Q 2023). Profit margin: 7.6% (up from 2.8% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Announcement • Jan 18
NCB Financial Group Limited, Annual General Meeting, Feb 09, 2024 NCB Financial Group Limited, Annual General Meeting, Feb 09, 2024, at 10:30 US Eastern Standard Time. Agenda: To consider audited Financial Statements; to consider Election of Directors; to consider Director's Remuneration; to consider Appointment of Auditors and their Remuneration; to consider that the resolutions considered at the Company's General Meeting of October 31, 2023 and all acts pursuant thereto be and are hereby ratified; and to consider other matters. Reported Earnings • Nov 24
Full year 2023 earnings released: EPS: JA$3.30 (vs JA$11.89 in FY 2022) Full year 2023 results: EPS: JA$3.30 (down from JA$11.89 in FY 2022). Revenue: JA$137.3b (down 8.2% from FY 2022). Net income: JA$7.59b (down 72% from FY 2022). Profit margin: 5.5% (down from 18% in FY 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Upcoming Dividend • Nov 24
Upcoming dividend of JA$0.50 per share Eligible shareholders must have bought the stock before 01 December 2023. Payment date: 18 December 2023. The company last paid an ordinary dividend in December 2012. The average dividend yield among industry peers is 5.1%. Announcement • Nov 18
NCB Financial Group Limited Declares Dividend, Payable on December 18, 2023 NCB Financial Group Limited declared dividend of JMD 0.50 per share Payment on December 18, 2023. Ex-dividend Date is November 4, 2023 and Record Date is December 4, 2023.NCB Financial Group Limited declared JMD 0.50 per share Payment on May 31, 2021. Ex-dividend Date is May 12, 2021 and Record Date is May 14, 2021. Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JA$73.50, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 8x in the Banks industry in South America. Total loss to shareholders of 47% over the past three years. Reported Earnings • Aug 11
Third quarter 2023 earnings released: EPS: JA$2.38 (vs JA$3.57 in 3Q 2022) Third quarter 2023 results: EPS: JA$2.38 (down from JA$3.57 in 3Q 2022). Revenue: JA$35.6b (down 1.9% from 3Q 2022). Net income: JA$5.48b (down 33% from 3Q 2022). Profit margin: 15% (down from 23% in 3Q 2022). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Announcement • Aug 03
NCB Financial Group Limited to Report Q3, 2023 Results on Aug 09, 2023 NCB Financial Group Limited announced that they will report Q3, 2023 results on Aug 09, 2023 Reported Earnings • May 14
Second quarter 2023 earnings released: EPS: JA$1.48 (vs JA$3.39 in 2Q 2022) Second quarter 2023 results: EPS: JA$1.48 (down from JA$3.39 in 2Q 2022). Revenue: JA$31.6b (down 11% from 2Q 2022). Net income: JA$3.39b (down 56% from 2Q 2022). Profit margin: 11% (down from 22% in 2Q 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 16
Full year 2022 earnings released: EPS: JA$11.89 (vs JA$6.25 in FY 2021) Full year 2022 results: EPS: JA$11.89 (up from JA$6.25 in FY 2021). Revenue: JA$149.6b (up 24% from FY 2021). Net income: JA$27.3b (up 92% from FY 2021). Profit margin: 18% (up from 12% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. Non-Executive Chairman of the Board Michael Lee-Chin was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 14
Second quarter 2022 earnings released: EPS: JA$3.39 (vs JA$0.82 in 2Q 2021) Second quarter 2022 results: EPS: JA$3.39 (up from JA$0.82 in 2Q 2021). Revenue: JA$35.3b (up 36% from 2Q 2021). Net income: JA$7.79b (up 295% from 2Q 2021). Profit margin: 22% (up from 7.6% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. Non-Executive Chairman of the Board Michael Lee-Chin was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Dec 03
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: JA$6.25 (down from JA$8.01 in FY 2020). Revenue: JA$121.1b (up 11% from FY 2020). Net income: JA$14.2b (down 26% from FY 2020). Profit margin: 12% (down from 18% in FY 2020). The decrease in margin was driven by higher expenses. Non-performing loans: 6.08% (up from 5.29% in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 02
Third quarter 2021 earnings released: EPS JA$1.70 (vs JA$2.19 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: JA$32.1b (up 19% from 3Q 2020). Net income: JA$4.02b (down 23% from 3Q 2020). Profit margin: 13% (down from 19% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Executive Departure • Jul 13
Non-Executive Non-Independent Director Adrian Lee-Chin has left the company On the 1st of July, Adrian Lee-Chin's tenure as Non-Executive Non-Independent Director ended after less than a year in the role. We don't have any record of a personal shareholding under Adrian's name. Adrian is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 4.17 years. Upcoming Dividend • May 07
Upcoming dividend of JA$0.50 per share Eligible shareholders must have bought the stock before 13 May 2021. Payment date: 31 May 2021. Trailing yield: 0.7%. Lower than top quartile of Jamaican dividend payers (2.8%). Lower than average of industry peers (2.6%). Reported Earnings • May 02
Second quarter 2021 earnings released: EPS JA$0.82 (vs JA$1.54 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: JA$26.0b (up 21% from 2Q 2020). Net income: JA$1.97b (down 46% from 2Q 2020). Profit margin: 7.6% (down from 17% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Reported Earnings • Feb 07
First quarter 2021 earnings released: EPS JA$1.66 (vs JA$2.46 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: JA$33.8b (up 1.5% from 1Q 2020). Net income: JA$3.92b (down 34% from 1Q 2020). Profit margin: 12% (down from 18% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Jan 29
NCB Financial Group Limited to Report Q1, 2021 Results on Feb 04, 2021 NCB Financial Group Limited announced that they will report Q1, 2021 results on Feb 04, 2021 Announcement • Jan 16
NCB Financial Group Limited, Annual General Meeting, Feb 05, 2021 NCB Financial Group Limited, Annual General Meeting, Feb 05, 2021, at 18:00 Coordinated Universal Time. Location: The Atrium, 32 Trafalgar Road in the parish of Saint Andrew Kingston 10 Jamaica Agenda: To consider the Audited Accounts for the year ended September 30, 2020; to consider declaration of Dividend; to consider election of Directors; to consider directors' Remuneration; and to consider appointment of Auditors and their Remuneration. Is New 90 Day High Low • Nov 18
New 90-day high: JA$142 The company is up 3.0% from its price of JA$138 on 20 August 2020. The Jamaican market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 12% over the same period. Reported Earnings • Nov 15
Full year 2020 earnings released: EPS JA$8.01 The company reported a soft full year result with weaker earnings and profit margins, although revenues were improved. Full year 2020 results: Revenue: JA$108.8b (up 10% from FY 2019). Net income: JA$19.1b (down 36% from FY 2019). Profit margin: 18% (down from 30% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 11
NCB Financial Group Limited to Report Fiscal Year 2020 Results on Nov 12, 2020 NCB Financial Group Limited announced that they will report fiscal year 2020 results on Nov 12, 2020 Is New 90 Day High Low • Oct 03
New 90-day low: JA$130 The company is down 4.0% from its price of JA$136 on 03 July 2020. The Jamaican market is down 1.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Banks industry, which is down 7.0% over the same period. 
