FTC: Bank competitiveness improves but concerns remain jamaica-gleaner.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jamaica-gleaner.com Daily Mail and Mail on Sunday newspapers.
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.
It has now been revealed that the departure of several senior executives of National Commercial Bank Jamaica (NCBJ) last September resulted in a $3-billion exit package, as seen in the bank’s 2023 audited financials. The financials showed that NCBJ’s key management carried home $3.91 billion in compensation for the 2023 financial year, with $3.83 billion attributed to salaries and other short-term benefits. The management remuneration related to NCBJ directors highlighted.