Statement by Bank of Jamaica
on Announced Management Changes at
NCB Financial Group Limited
18 July 2023
NCB Financial Group Limited (NCBFG) has announced changes at the level of the senior management of the holding company.
Bank of Jamaica acknowledges that corporate developments of this nature can give rise to concern among members of the public in Jamaica and overseas.
Bank of Jamaica uses this opportunity to give the assurance that the member companies of the NCB Financial Group are profitable, strong, safe, and sound and possess sufficient capital and liquidity, which are above regulatory requirements.
As indicated in the recent statement by the Financial Policy Committee of Bank of Jamaica, the financial system in Jamaica remains adequately capitalised and liquid. Bank of Jamaica underscores its commitment to continuous robust supervision of all deposit-taking institutions and their holding companies with a focus on risk-based assessments, including ensuring that satisfactory corporate governance arrangements are in place at all licensees.
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