NCBFG reports 7% increase in year end net profits
Date: December 2, 2019 NCB Financial Group Limited (NCBFG) for the year ended September 30, 2019 Net Interest Income increased by 27%, relative to 2018, to total $44.60 billion (2018: $35.14 billion). Management noted, “the growth in our Jamaican loan portfolio accounted for just under half of the increase despite lower interest rates; while the consolidation of five months of GHL’s results along with a full year of Clarien’s performance compared to nine months in the prior year accounted for the balance.” Net Fees and Commission Income amounted to $19.18 billion, an increase of 21% on 2018’s $15.86 billion. NCBFG
PULS reports 109% increase in first quarter net profit
November 8, 2019 Pulse Investments Limited (PULS), for the three months ended September 30, 2019 reported operating revenue which increased by $20.21 million to $149.27 million in the first quarter relative to $129.06 million the prior year, representing a 16% increase. Administrative and other expenses amounted to $50.34 million (2018: $53.02 million), a decrease of 5% year over year. As a result, operating profit improved by 30% to close the period at $98.93 million (2018: $76.04 million). Fair value appreciation on investment property climbed to $145.41 million compared to the $43.98 million recorded for the prior year’s corresponding period, a
Net International Reserves- October 2019
Date: November 7, 2019 Net International Reserves- October 2019 Jamaica’s Net International Reserves (NIR) totaled US$3,169.57 million as at October 2019, reflecting an increase of US$71.52 million relative to the US$3,098.05 million reported as at the end of September 2019 (see figure 1). Changes in the NIR resulted from an increase in Foreign Assets of US$74.93 million to total US$3,656.85 million compared to the US$3,581.92 million reported for September 2019. ‘Currency & Deposits’ contributed the most to the increase in Foreign Assets. ‘Currency & Deposits’ as at October 2019 totaled US$3,109.41 million reflecting an increase of US$68.11 million compared to US$3,041.30