NCB posts massive profits
For the nine months ending in June, NCB Financial Group’s net profit climbed by $12 billion, or 86%, to $25.9 billion. NCB’s net operating income for the quarter was $105.6 billion, up $13.8 billion or 15% from the same time last year. The financial behemoth claims that this was primarily fueled by an improvement in […]
Access Financial Services to operate as microcredit institution approved
Access Financial Services Limited (AFS) has advised that its application to operate as a Microcredit Institution pursuant to the Microcredit (License Form of Application) Rules, 2021 has been approved by the Bank of Jamaica. All microfinance institutions (MFIs) doing business in Jamaica must either already have a license from the BOJ or have applied for one […]
Remittances down in June
June marked the continuation of a downward trend in net remittances to Jamaica. According to the Bank of Jamaica, US$271.3 million entered the nation in one month. When compared to the same period in 2021, that implies a decline of US$12 million or 4.2%. The net inflows for the month boosted the total since the […]