Patrick Hylton is the only CEO to maintain a consistent presence on the list since inception in 2005. His highest ranking been number 4 for 2006 and truly represents the essence of The List.

Hon. Michael Lee-Chin OJ Chairman in his opening statement to shareholders says it all “I am sure I speak on your behalf when I say that our organization has demonstrated its capacity to sustain itself and to continue delivering value during a financial year when challenges were many and success was difficult. The growth in profitability could not have happened by accident; it was indeed the result of the proactive and prudent management of the Patrick Hylton-led team, guided by the supportive oversight of our Board. I thank the directors, executives and all other employees for their contribution to the financial year’s results.”

Lee Chin speaking recently with Caribbean Business Report from Canada said: “Patrick Hylton is exceptionally technically gifted. He has the ability to see around corners. He anticipated that the economy would slow down and that loan business would fall off, so what does he do? He endeavors to strengthen collection processes as to minimise loan losses. He made this move well in advance of our competitors.”

Patrick Hylton who has strategic oversight of the enterprise operation has led the organization to achieve record growth in profitability. In his 2010 report to shareholders he offered to following insight into his master plan.

“Last year I indicated that we were on a mission to build our financial fortress. We strongly believe that it is in the best interest of all our stakeholders that NCB continue this process. It means we will improve the efficiency of how we deliver those services to your, which in turn will lower your costs.”

He added that a financial fortress like NCB afforded the opportunity to maintain and develop the capabilities of the largest private sector workforce in the country and provide solid returns to shareholders.

He added, the company’s financial fortress allowed to increase investment in community service activities and serve as a solid source of tax solid source of tax revenues for government to support key programmes.

“For the year ended September 30, 2010, we have demonstrated in many ways our desire to continue to meet the financial needs of our customers,” he informed.

NCB led the way to lower auto loan rates to 16.95% and were the first to introduce the 9% FARM loan to help foster growth within agricultural sector. Another key initiative was Cut Your Bank Fees campaign which helped our customers reduce and eliminate banking fees by accessing low cost banking channels. Highlighting the bank’s commitment towards its customers, the Money Matters campaign, offers budgeting tools and tips, saving options and debt consolidation.

2009 and 2010 were testing years for Jamaican financial institutions who were confronted with the global recession and the Jamaica Debt Exchange (JDX). Despite these challenges and obstacles for the financial year ended September 2010, NCB posted a net profit of J$11.07 billion, an increase of J$827 million or 8.1 per cent. Operating revenue came in at J$29.31 billion, increasing by 8.0 per cent or J$2.17 billion. Total assets increased by 6.3 per cent over 2009’s figure and came in at J$334.97 billion. Of note here is the increase of customer deposits, which at J$144.28 billion were 10.7 per cent higher than the figure posted in the previous year. The risk-based capital adequacy ratio improved to 16.5 per cent from 14.6 per cent. Earnings per stock unit of J$4.50 grew by J$0.34 or 8.1 per cent. Investment securities of J$200.13 billion increased by J$32.41 billion or by 19.3 per cent.

All the more remarkable was the performance of its wealth and asset management arm, NCB Capital Markets, headed by Dennis Cohen, which contributed J$3.55 billion to the Group’s operating profits, a 55.2 per cent increase on 2009’s numbers. The Group attributes this J$1.3 billion rise in profits to firstly an increase in net interest income resulting from lower cost of funds and secondly non-recurrence of mark to market losses from trading activities undertaken in the prior year.

For the first quarter ended December 2010, NCB had already posted a net profit of J$3.01 billion with operating revenue increasing by 13 per cent. Net loans jumped to J$88.56 billion. Retail, Corporate and Treasury reported combined operating results of J$2.41 billion, an increase of J$91 million over the prior year. Today NCB remains the largest commercial bank when measured by profit, assets, branch network and capital base.

A Past President of the Jamaica Bankers Association, Chairman of Harmonisation Limited Hylton sits on several boards including the Caribbean Information and Credit Rating Services (CariCRIS).

“He (Hylton) has the respect of the entire staff and has been able to congeal them as opposed to acting as a polarising agent. He has managed to get the senior management team to work harmoniously and has created a great fit. The entire staff now has a pep in their step because they can see that NCB is helping to build a better Jamaica,” said Lee Chin of Hylton’s management style.

Patrick first received local and international acclaim when he was appointed to a leading role by the Government in the rehabilitation of the Jamaican financial sector during the mid 1990s. His successful completion of that undertaking culminated in the national award of the Order of Distinction Commander Class. BM