I have the responsibility of stewarding a portion of your investment portfolio. It is a responsibility we take seriously, and we are grateful for your confidence and the privilege you have bestowed on us.

I am proud of NCB Financial Group’s financial performance within the context of ongoing global challenges. You can be confident that you are investing in a company that is built to last – with leaders expertly navigating the balance of strength and innovation.

We are fortifying the institution to withstand shocks while re-imagining and reengineering our business model for future growth. A well-run organisation is focused on long-term viability and sustainable returns.

“If you aren’t willing to own a stock for 10 years, don’t even think about owning it for 10 minutes.” ––– Warren Buffett

The NCB Financial Group continues to embody key characteristics of my wealth philosophy.
1. It is a high-quality business.
2. It is domiciled in strong long-term growth industries.

NCB has evolved from a predominantly Jamaica-based banking group into the NCB Financial Group – a full-service regional financial conglomerate, present in over 21 territories. The journey has not been without challenges, as the institution successfully navigated and emerged stronger following local and global financial crises.

In 2022, we also recognised NCB’s 185-year anniversary, with roots dating back to 1837 when the Colonial Bank of London, England established a presence in Jamaica. The journey since that time has included a series of mergers and acquisitions and the emergence from a colonial past into an indigenous institution with world class ambitions.

We acknowledge the full history as we pay homage to the customers and employees who contributed along the way. This year, we also celebrated 60 years of independence for Jamaica as well as Trinidad and Tobago – the countries where we currently have our largest presence.

As I reflect on these milestones, I continue to be energised about fulfilling our organisation’s purpose – Empowering People. Unlocking Dreams. Building Communities.

A well-performing financial institution has the unique opportunity to enable wealth creation for its shareholders, its customers and the countries in which it operates. What each NCB Financial Group shareholder owns is a stake in a company committed to building indigenous wealth in all the communities we serve.

For our shareholders, total long-term shareholder returns have been strong.
Our investment and mortgage solutions enable our clients to grow their wealth and create a legacy to pass on to the next generation.

Our insurance business enables clients to protect their health and property, which in turn plays a key role in preserving and transferring wealth.

For our business customers, our debt, public and private equity solutions, provide the necessary capital for business growth.

Owning businesses creates wealth for families and generates economic growth.

Through the launch of Lynk, our digital payments solution, we have laid a strong foundation for enhancing financial inclusion for the unbanked, and putting them on a path for wealth creation.

For the countries in which we operate, we have been a primary taxpayer. For the period October 2021 to August 2022, our tax payments were equivalent to 1.1% of the total tax revenue base of the Government of Jamaica and 0.5% of total tax revenues for the Government of Trinidad and Tobago.

Factories Corporation of Jamaica Morant Bay Urban Centre

In FY 2022, we collaborated with Factories Corporation of Jamaica on the Morant Bay Urban Centre. We provided debt and equity financing to facilitate this transformational project, which is estimated to provide over 3,000 jobs and revitalise the Morant Bay Community.

Through the foundations across the NCB Financial Group, we have donated over $2 billion and positively impacted the lives of over 250,000 citizens.

I believe that today we are as clear as we have ever been, in all 185 years of our existence, about our purpose. Every single action we take is deliberate and grounded in the prospect of empowering people, unlocking dreams and building communities. This recent period of social, political, and economic volatility and uncertainty is reshaping and redefining life and business.

While it continues to be unsettling for many, it has sharpened our focus and unearthed new opportunities. The ability to find such opportunities amid crisis is a skill we have honed and a mindset we have adopted along our journey.

I embrace the present with the knowledge that “In the middle of difficulty, there is opportunity. The bigger the difficulty, the bigger the opportunity.” – Albert Einstein.

With our 2024 aspiration to become a world-class Caribbean financial ecosystem in full focus, I take this opportunity to thank all shareholders and customers for their continued trust and confidence, and each employee for helping to steer the ship to the next destination.

With our continued partnership, I am excited about what is to come.

Hon. Michael Lee-Chin, OJ
Chairman

For More Information CLICK THIS LINK