The most highly publicized occurrence for the Capital and Credit Financial Group during 2011 is not its 27% increase in profitability over last year, but the fact that the company helmed by the #6 placed CEO was sold to the Jamaica Money Market Brokers (JMMB). But a closer look at the numbers will show that the CCFG faired incredibly well in a difficult and dynamic financial environment.

The Capital and Credit Financial Group (CCFG) recorded a 27% increase in Profit after Tax for the financial year ended December 31, 2011.  This is an increase to just over $364 million, up from the approximately $288 million reported for 2010.  CCFG’s achievement comes on the heels of its 18th Anniversary milestone in January this year and cements the Organization’s consistent performance in profitability, quarter over quarter, since inception.

The Capital and Credit Merchant Bank (CCMB) Group also made achievements in the year under review.  The Banking Group recorded a modest increase in profit of approximately $2.2 million after Tax of just over $346 million, up from the $344 million reported for 2010.

CCFG’s Chairman and CEO Ryland T. Campbell, in commenting on the Company’s performance, noted that “the Group’s Cost Containment strategy achieved its objective, as there was a 6% decline in Non-Interest Expenses in 2011, amounting to approximately $1.2 billion, compared to $1.3 billion in 2010.”

The Group Chairman also attributed Capital and Credit’s positive performance to the 59%, increase recorded in Total Other Operating Income, of approximately $805 million, from approximately $507 million achieved in 2010.    The Merchant Bank Group achieved an almost similar increase of 58% for its Total Other Operating Income, moving to just over $651million, from approximately $412 million in 2010.

Another significant achievement for CCFG was a 170% growth in Securities Trading in 2011, moving to just over $529 million, up from approximately $196 million in 2010 and a 10% increase in Foreign Exchange Trading, which moved from $89.6 million reported in 2010, to just over $98 million for the 2011 reporting period.

As it relates to the Capital and Credit Merchant Bank, the Bank’s CEO Curtis Martin, noted that the major contributor to the increase in Profit for the CCMB was the 124% growth due to gains in Securities sold for the year of approximately $434 million, up from approximately $193 million in 2010.

According to Mr. Martin, “there was also a significant reduction in CCMB’s Loan Loss Provision, moving to a net recovery of just over $13 million as at December 2011, from the negative position of approximately $80 million in 2010.”

He stated further, that notwithstanding the adverse impact that current economic conditions are having on loan customers in the Banking sector, CCMB has been able to stabilise its level of past-due loans and expects significant recoveries as it continues its efforts to  regularise  these loans and expedite collections.

The Capital and Credit Financial Group’s Total Stockholders’ Equity in 2011 increased by 4% to just under $7 billion, over the $6.7 billion achieved in 2010.

Ryland Theophilus Campbell or RT as he is affectionately called by his close friends and family, has lead CCFG since inception.  Campbell is a distinguished teacher, banker, entrepreneur, philanthropist, community service leader and a passionate cultural development facilitator. He is best known as the Chairman, Group President and CEO, as well as co-founder of the Capital and Credit Financial Group Limited, an investment holding company comprising Capital and Credit Merchant Bank Limited and six other subsidiaries.

He is a Director of other private companies including CARI-MED Limited, which is the largest Pharmaceutical Distributor in the Caribbean; Kirk Distributors Ltd and also the Founder and CEO of Weststar Group of Companies, which are the major shareholders in the Capital and Credit Financial Group Limited.

Campbell, who won the Jamaica Observer Business Leader Award for 2005, has been referred to as “The Steady Hand,” for his role in safely steering a small, indigenous bank through Jamaica’s most turbulent financial sector crisis and for guiding its transformation into a highly capitalized and profitable publicly traded company.

Campbell’s formal education began at Teacher Jamieson’s Infant School, then on to Carmel Primary School and by private study, before entering the Mico in 1962 for a three years course of studies and leadership preparation. At the Mico, Mr. Campbell became House Captain, Assistant Scout Master, Member of the Male Voice Choir and a Member of the Mico College Volleyball team.

Campbell’s passion for education as a transformational tool for a country and the means of social and economic mobility especially for individuals from challenging circumstances mirrors his own journey from Carmel in earning a Teacher’s Diploma from The Mico University College. As well as, a Certificate in Management Studies from the University of the West Indies and through Distance Education, a Bachelors Degree in Business Administration from Columbia State University.

Campbell serves as Deputy Pro-Chancellor and Vice Chairman of the Board of The Mico University College; Member and Deputy Chairman of the Council of the University of Technology, Commissioner of the Early Childhood Education Commission and Adviser to the Council of The Jamaica Association on Intellectual Disabilities.

It is something of a changing of the guard as this stalwart of the financial sector sees his company taken over by another juggernaut in the financial sector.  He can forever be proud of the company he built and led for so many years and its performance in its last year as an independent entity, a performance that sees him placing sixth on this prominent list. BM