NCB Financial profit jumps 71% on insurance-unit sale

Jamaica's largest banking group reported net profit of J$36.9 billion for the year to September, boosted by a one-time gain from selling its Netherlands brokerage.

Net profit rose 71% from J$21.6 billion, with a J$15.1 billion gain from the January 2025 sale of the Thoma Group to the UK's PIB Group. Customer deposits reached a record J$809.4 billion and equity attributable to stockholders rose 16%.

The non-performing loan ratio edged up to 4.54% from 4.26%, and the group declared an interim dividend of 50 Jamaican cents a share. The turnaround at NCB is among the clearest signs of recovery in Jamaican finance.