NCB ‘strong, safe, and sound’ says BOJ
Bank of Jamaica has sought to reassure the financial market following the senior leadership changes announced by National Commercial Bank Financial Group Limited (NCBFG), one of the largest banking conglomerates in the region.
NCBFG announced Tuesday that CEO Patrick Hylton and Deputy CEO Dennis Cohen are departing the company.
In a subsequent statement on its website, the BOJ acknowledged that “corporate developments of this nature can give rise to concern among members of the public in Jamaica and overseas.”
However, it sought to assure that “the member companies of the NCB Financial Group are profitable, strong, safe, and sound and possess sufficient capital and liquidity, which are above regulatory requirements.”
NCB Financial Group posted a profit of $40 billion last year.