NCB makes $9 billion in nine months
Published:Sunday | July 31, 2011 | 12:00 AM
National Commercial Bank added more than a billion dollars to its nine-month profit, and will pay dividends to shareholders, amounting to J$690 million.
The banking group made profit of J$9.27 billion, a 14.7 per cent climb or J$1.19 billion more than it recorded in the comparative nine months of 2010. The third-quarter results reflected marginal increase in performance within the three-month period. Profit rose 0.8 per cent to J$3.14 billion, relative to the March quarter.
Its nine-month results per share rose 49 cents to J$3.77 per share. Comparatively, NCB said in a market filing that it would pay interim dividends of 28 cents per share - amounting to J$690.69 million - payable on August 26.
Net revenue jumped by J$4.4 billion to J$26.19 billion in the nine-month period ending June.
NCB said the gains resulted from stronger premium income from annuities booked with its insurance subsidiary, as well as gains on group investments.