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NCB planning further regional expansion?

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Plans seem to be in place for the continued expansion of the National Commercial Bank, NCB in the region.

The company currently has establishments in Trinidad and Tobago, Barbados, the Dominican Republic and the Cayman Islands.

This follows last month’s move by NCB to purchase a 29.99 per cent stake in Guardian Holdings Limited (GHL).

According to Hylton, the company remains opportunistic regarding new markets. He says the current financial year will see NCB continue its transformation into the Financial Institution of the Future. He says it will also see NCB’s transformation in what he describes as an indisputable provider of choice across the English and Spanish speaking Caribbean.

The MD says the company, which reported a net profit of $12.3 billion dollars for the financial year ended September 30, 2015, says going forward; focus will be on building the customer experience leading to a competitive advantage and differentiated position.

Hylton says efforts will also be made to strengthen customer relationships through innovative product offerings and service excellence; the effective distribution network through payments expansion and Bank-on-the-Go initiatives; focus on improving efficiency and lowering costs through core operations and technology integration; continuing to look on streamlining operations to simplify the process for customers as well as; investment in people and technology to drive growth in the future. BM

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John Mahfood “I Listed on the JSE to Raise Capital for My Business”

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JSE Online Trading Platform

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Grace Stockholders To Vote On 3-for-1 Stock Split Today

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Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

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UK Loses S&P Triple A Rating

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The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

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Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

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Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.

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