Jamaica’s largest banking and financial conglomerate NCB Financial Group Limited has offered more than $53 billion worth of bonds to the market since March to refinance existing debt. One of the bonds currently on the market seeks to raise $6.
Bondholders in Specialty Coffee Investments Company Limited, an outfit connected to businessman and investor Michael Lee-Chin, voted to extend the maturity of a bond by three months, but more negotiations could follow. The initial extension is days.
National Commercial Bank (NCB) Jamaica, the country's largest bank, says it is "confident" in its ability to safeguard customer data amid confirmation that it has made 14 information technology (IT) positions redundant. It said.
In July of last year, NCB Financial Group chairman Michael Lee-Chin famously declared that he was “not happy” with the lack of dividends by the financial institution and promised to make changes to drive efficiency so more money will be available to make payments to shareholders. Among the first changes he made was to recruit a strong and proven leader to the role of CEO of the bank – Bruce.