NCB is Jamaica’s Safest Bank for The Tenth Consecutive Year

For the tenth year in a row, National Commercial Bank Jamaica Limited (NCB) has been recognised as the country’s Safest Bank by the US-based publication, Global Finance.

Awardees are selected through an evaluation of long term foreign currency ratings by international ratings agencies for the 1000 largest banks globally. These ratings have been the recognised standard for financial counterparty risk for more than three decades.

Joseph Giarraputo, founder and editorial director of Global Finance Magazine , underscored the designation’s importance on the current global landscape, “With the rise of inflation and disturbing bank runs happening in the US and Europe, bank soundness remains the cornerstone of worldwide commerce during these stressful times.”

This designation received by NCB follows upgraded ratings from both Standard & Poor and Caribbean Information and Credit Rating Services Ltd (CariCris) over the past month, confirming the Bank’s standing as the strongest financial institution in Jamaica.

Bruce Bowen , CEO of NCB, emphasised the significance of the recognition stating that “Awards of this nature are important as they are an independent assessment of our institutional capabilities and strength as a financial counterparty.”

The Safest Bank Award for Jamaica is the second accolade that the organisation has received from Global Finance this year. Earlier this year, NCB was awarded Global Finance’s Best Bank award for Jamaica.

The Best Bank awardees are selected based on their “services, stability and institutional knowledge” and on criteria such as growth in assets, profitability, geographic reach, new business development and innovation in products.

As a home grown financial institution, NCB is honoured to have been awarded both the Safest Bank and Best Bank awards by Global Finance Limited, for a number of years.