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FTC: Bank competitiveness improves but concerns remain

FTC: Bank competitiveness improves but concerns remain
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Jamaica is 'Determined' to Bring CBDC to Address Cash Problems

Bank of Jamaica (BOJ) governor Richard Byles said that BOJ is determined to find solutions for the slow roll-out of their CBDC. ....

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Q+A: NCB's Bruce Bowen talks customer service, family, Lee-Chin and more

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. ....

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$3-billion parachute

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. ....

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