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Company Profile:

National Commercial Bank



National Commercial Bank Jamaica Limited (NCB) is 75 percent owned by AIC Limited, Canada's largest privately held Mutual Fund Company. The bank has had a long and colourful history dating back to 1837 when the Colonial Bank (predecessor to Barclays Bank International) opened for business on Harbour Street, downtown Kingston. In 1977, the Government of Jamaica acquired the shares of the Bank and changed its name from Barclays Bank to National Commercial Bank Jamaica Limited.

Today, the NCB and its subsidiaries are one of the largest financial services groups in Jamaica providing a wide range of services. The subsidiaries are NCB Capital Markets Limited which provides securities and stockbrokerage services; NCB Insurance Company Limited which provides banc assurance products; West Indies Trust Company Limited for pension and property management; NCB (Nominees) Limited for registrar services; NCB (Cayman) Limited which offers offshore banking; and Senvia Money Services for money remittance services.

The bank's customers are able to access an extensive array of banking solutions through NCB's network of 52 branches; 110 Automated Banking Machines; Internet and Telephone Banking Services; and a state-of-the-art 24-hour Customer Care Centre.

NCB is the leader in the credit card business and was the first commercial bank in Jamaica to introduce its own propriety credit card - The NCB KeyCard - in 1981, that is accepted at over 7,500 merchants island-wide.

Our corporate banking division provides financing for a large number of local and multinational companies operating in Jamaica and has successfully structured financial arrangements for companies in all major sectors of the economy - hospitality and tourism; shipping and port services and quasi-government institutions, among others.

NCB is a good corporate citizen, and through its Chairman, Michael Lee-Chin, has committed to "do all we can, within our means, to assist our Jamaican people in building their intellectual capital". This is evident from the NCB Jamaican Education Initiative (JEI), a J$150 million programme that focuses on developments that positively impact the process of building a strong educational foundation for Jamaica. The components of the JEI are: sponsorship of CXC examinations for all secondary school students sitting Principles of Business and Principles of Accounts; book and computer donations; early literacy, mentorship and role model programmes; teacher loan programmes; and the Omni Educator savings plan.

Mr. Lee-Chin, the Chairman of AIC Limited, the parent company of NCB, has also committed to reinvest all its dividends from NCB back into Jamaica. In addition, NCB has shown its continuing faith and confidence in Jamaica by investing in the shares of Kingston Wharves; Dyoll Group of Companies; RJR Communications Group, Life of Jamaica Ltd. and Red Stripe.

The NCB Group of Companies is technologically advanced having spent approximately US$55 million on a new core banking system since 2002. Our growing creditworthy asset book as well as the improving capital base of the Group, suggest a financial strength that places NCB in a very strong and competitive position in our marketplace. In the second quarter, the organization recorded continued significant growth and at the end of March 2004, NCB group reported profits of J$1.89 billion.

Website: http://www.jncb.com