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AwardsDecember 1 2008

Jamaica

National Commercial BankProduct innovation, clever funding strategies and a focus on service excellence have enabled Jamaica’s National Commercial Bank (NCB) to generate another year of growth and improved profitability. Net profits are up by 20%, assets by 14% and return on equity continued to rise to 24.84%.
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One such innovation was NCB’s introduction of principal protected notes for local investors, the first use of such a security in Jamaica.

During the last year it also introduced the NCB Keycard Biz credit card to business customers. With special features such as 55 days free credit, higher credit limits and a cash rebate, it accounted for the highest percentage net increase in card purchases.

“We are extremely pleased to be awarded the 2008 Bank of the Year in Jamaica. Our strong financial performance has been as a result of our strategic focus on innovation, expertise and strength – three pillars which define our approach to product delivery, customer service, employee development and operating efficiency,” says Patrick Hylton, group managing director at NCB.

“This recognition could not have been achieved without the contribution of our more than 2000 employees whose hard work has served to distinguish NCB as a leader in the marketplace. The year ahead will not be without new challenges; we will continue, therefore, to manage our business by expanding technological capabilities, rewarding the innovations of our staff and by striving for excellent customer service.”

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