KINGSTON, Jamaica — National Commercial Bank Financial Group (NCBFG) Limited said on Monday that Clarien Bank Limited, in which it currently owns a 50.10 per cent stake, will acquire NCB (Cayman) Limited as part of an internal reorganisation of its offshore banking and wealth management operations.

The transaction, which is subject to regulatory approvals and non-objections, will see selected wealth and investment management client relationships within the group’s Cayman operations transition to Clarien in a structured manner.

NCB Financial Group said the move is intended to simplify its operating model by aligning closely related banking and wealth activities within a single platform.

“This transaction represents a deliberate strategic internal realignment designed to strengthen focus and operational coherence across our regional businesses,” said Robert Almeida, group chief executive officer of NCB Financial Group.

Upon completion, NCB (Cayman) Limited will be rebranded under the Clarien name. NCBFG said the transaction is not expected to have a material impact on capital adequacy, liquidity or ownership structure.

Clarien Chief Executive Officer Ian Truran said the acquisition supports the bank’s strategy to expand selectively in offshore markets.

“This marks an exciting new chapter for Clarien,” Truran said, adding that the bank is focused on delivering a seamless transition for clients and staff from NCB (Cayman) Limited and NCB Capital Markets (Cayman) Ltd.

The transaction comes against the backdrop of earlier efforts by NCB Financial Group to reallocate capital and reduce its exposure to Clarien. In June 2024, NCBFG entered into a share purchase agreement to sell 30.20 per cent of Clarien Group Limited to Cornerstone Financial Holdings Limited, a move that would have reduced its ownership to 19.90 per cent. That agreement later expired in May 2025 after the parties did not extend it.

Separately, in a disclosure dated June 10, 2025, NCB Financial Group said it expected to acquire an additional 17.92 per cent stake in Clarien Group Limited from private equity funds under an existing agreement, which would raise its ownership to 68.02 per cent if completed. The timing of that transaction has not been confirmed, and the group said it would not be expected to have a material impact on financial performance.

NCBFG said clients will continue to be served by their existing relationship teams, with no disruption to day-to-day operations anticipated.