NCB Financial Group (NCBFG) and its main subsidiary National Commercial Bank Jamaica Limited (NCBJ) have received a positive outlook from S&P Global Ratings, reflecting growing confidence in the strength of Jamaica's economy and the group's performance.
S&P revised the outlook on both entities' long-term issue-accredited ratings from 'stable' to 'positive', while affirming the existing ratings of 'B-' for the group and 'BB-' for the bank.
The change follows S&P's upgrade to Jamaica's sovereign rating to 'BB', citing the country's sustained fiscal discipline, strong institutional framework and sound macroeconomic management.
S&P also noted that Jamaica's banking sector remains resilient, supported by conservative lending practices, stable asset quality and prudent regulation.
Within this landscape, NCBJ continues to lead as Jamaica's largest financial institution, with a diversified business model, solid funding base and consistent earnings.
The broader NCB Financial Group, which operates in Bermuda and Trinidad and Tobago, also benefits from regional diversification, contributing to its stable overall performance.
According to S&P, the positive outlook suggests the possibility of a future ratings upgrade within 6-18 months, depending on continued economic strength and solid credit fundamentals across the group.
CEO of NCB Financial Group Robert Almeida welcomed the revision, calling it a strong endorsement of NCB's disciplined strategy and robust business model.
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