NCB Financial Group has announced that the Share Purchase Agreement executed on February 2 last year between its subsidiary, National Commercial Bank Jamaica, and London-based Berkeley Financial Holdings for the sale of its 100 per cent stake in NCB Cayman has been terminated.
The agreement was discontinued due to the failure to reach completion within the agreed timeline, and conditions specified by both parties.
In light of this, NCB Financial Group says it intends to explore alternative opportunities regarding the future of NCB Cayman.
NCB Cayman remains a wholly-owned subsidiary of NCB Financial Group, operating under a Category "A" Banking licence in the Cayman Islands.
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