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NCB Financial Group

The NCB Financial Group Limited is a financial services conglomerate which operates primarily in the Caribbean region and has its headquarters in Kingston , Jamaica. National Commercial Bank Jamaica is a subsidiary of NCB Financial Group Limited. NCB is the largest and most profitable financial institution in Jamaica. They are also the majority shareholder of Guardian Holdings Limited which is one of the largest insurance providers in the Caribbean. NCB Financial Group Limited is listed on the Jamaica and Trinidad and Tobago Stock exchange. NCB started out as 1 bank on Harbour Street in Kingston and expanded its operations to 11 branches , at the time.

The roots of NCB (National Commercial Bank) stretch back as far as 1837 when The Colonial Bank of London , England decided to open its doors on Harbour Street in the vibrant and bustling Parish of Kingston. The face of Jamaica’s banking sector started to change over the years . in 1977 The JNCB group was formed after a series of mergers and acquisitions over the years. I the year 1925 Colonial Bank and 2 other banks were acquired by Barclays Bank of London. The Colonial Bank of London had its name changed to National Commercial Bank after being acquired by Barclays Bank.

National Commercial Bank was the issuer of the first Jamaican credit card in 1981. They were also the first Jamaican bank to have deposits in excess of 1 Billion dollars and possessed assets that exceeded 1.3 Billion Dollars in 1883. The NCB group Limited which is a holding company was in cooperated in order to reorganize the structure of NCB and its subsidiaries. The issued share capital of all NCB’s subsidiaries was then acquired by the group after these events. In 1986 NCB’s issued shares was acquired by a government owned company called the “National Investment Bank of Jamaica” . 30,600,000 worth of ordinary shares at $1 each was offered by NIBJ to the public and trustees of the employee share scheme. These shares were for the NCB group. The NCB group was also listed on the Jamaica Stock Exchange.

Subsidiaries of the NCB Financial Group

The NCB Financial Group has expanded its branches and operations during its expansion. It has acquired a variety of businesses in the financial sector making it the richest financial institution in Jamaica. The group has also become a powerhouse in the Caribbean region due to the investments and acquisitions it has made. Some of these subsidiaries are:

  • National Commercial Bank Jamaica– NCB is the bank of the NCB Financial group. It is considered to be the wealthiest bank in Jamaica
  • NCB Capital Markets-A capital market is a financial market in which long term debt is bought and sold. This is what NCB capital markets does
  • NCB Insurance-“NCBIC is the largest segregated pension funds manager in Jamaica with dedicated client relationship officers who are experts in pension regulations and pension administration.”
  • Guardian Life-“Guardian Life Ltd. is an Assurance Company established in Jamaica since August 1999. The company is engaged in the underwriting of all classes of long-term insurance business. Guardian Life is managed by a President who is responsible to a Board of Directors for the operation of its business. Guardian’s policies are sold by employed insurance advisers and through brokers. They operate ten branches in Jamaica, and deliver superior service by focusing on customer needs and operational excellence.”
  • Guardian General Insurance-Their Insurance Products Offer Maximum Coverage In All Areas Of Your Life. 
  • Clarien Bank -Clarien is one of the largest independent, privately owned financial services organisations in Bermuda serving families and corporations in that and other countries. The bank changed its year-end to reflect that of its major shareholder NCBFG, which is based in Jamaica.

Goals and missions of The NCBFG

The National Commercial Bank Financial Group is committed to “Building a Better Jamaica”. They are committed to providing reliable , secure and reasonable financial services to the entirety of Jamaica . Whether it be insurance , loans, banking or debt consolidation they always go the extra mile for their customers. They believe in having a strong Social responsibility. The NCB Financial group states that ” We respects and embrace all charitable causes that are relevant to the betterment of Jamaica and leads in corporate social responsibility through strategic partnerships focused on the development of our nation’s people”. The NCBFG is committed to its customers and their financial and physical wellbeing.

Requirements to starting a bank account with NCBJamaican Residents – Jamaican Dollar Regular Save Savings Account Open Online For New New Customers Only

Proof of Valid Identification

You may use any of the following:

  • Driver’s Licence (please provide both front and back)
  • National ID (Elector Registration Identification Card)

Taxpayer Registration Number (TRN) CardProof of Income/Employment

Employed Persons will need one of the following:

  • Letter from employer not more than six months old
  • Pay slip not more than six months old
  • Proof salary being sent to an account for the last three months

Self-employed Persons will need one of the following:

  • Certificate of Registration bearing the applicants name
  • Trade License ( where applicable)
  • Applicants tax return
  • Current valid work identification
  • Self-employment Verification form (See document section below)

Unemployed persons:

  • Unemployment Verification form (See document section below)

Contact Details for two (2)Referees

Name, telephone contact number(s) and occupation for two (2) referees. You may use any 2 of the following:

  • NCB Customer (For at least 3 years or more)
  • NCB Manager
  • Minister of Religion
  • Justice of the Peace
  • Employer
  • Another Bank’s Manager

Proof of Address

  • Utility bill in Applicant’s Name
  • Envelope with Name of Applicant and Address

Minimum Opening Deposit

  • J$2,000 NCB Regular Save

Documents

Click here for documents.

Requirements to starting a bank account with NCBJamaican Residents who Start Online and Complete in Branch

Proof of Valid Identification

You may use any of the following:

  • Driver’s Licence
  • National ID (Elector Registration Identification Card)
  • Passport
  • Diplomatic ID (Issued by the Ministry of Foreign Affairs and Foreign Trade)
  • Employer ID (Conditions Apply)*
  • National Council for Senior Citizens Identification Card

Taxpayer Registration Number (TRN) Card for persons without Driver’s LicenceProof of Income/Employment

Employed Persons will need one of the following:

  • Letter from employer not more than six months old
  • Pay slip not more than six months old
  • Proof salary being sent to an account for the last three months

Self-employed Persons will need one of the following:

  • Certificate of Registration bearing the applicants name
  • Trade License ( where applicable)
  • Applicants tax return
  • Current valid work identification
  • Self-employment Verification form (See document section below)

Unemployed persons:

  • Unemployment Verification form (See document section below)

Contact Details for two (2)Referees

Name, telephone contact number(s) and occupation for two (2) referees. You may use any 2 of the following:

  • NCB Customer (For at least 3 years or more)
  • NCB Manager
  • Minister of Religion
  • Justice of the Peace
  • Employer
  • Another Bank’s Manager

Proof of Address

  • Utility bill
  • Post marked envelope (no more than 6 months old))

Minimum Opening Deposit

  • J$100 NCB S.T.A.R.T (up to 17 years of age)
  • J$2,000 NCB Regular Save
  • J$5,000 NCB Gold Club (age 55 and over)
  • J$5,000 NCB Chequing Account
  • J$10,000 NCB Sunshine Savers
  • 100 units of foreign currency (US, Can, Pound, Euro)

Documents

Click here for documents.

Infoblog hopes you found this informative and we would like to thank you for reading this Blog. We wish you all the best in your endeavours

Written by odanemorgan

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