Online Banking

Latest News

CCFG records flat earnings for 2010 Published: 16 March 2011

Capital and Credit Financial Group (CCFG) recorded net profit of $288Mn ($0.31) for the 2010 financial year ending December 2010. This was fairly in line with what the company reported in 2009. The performance was aided by the recognition of net gains on securities traded but thwarted by the reduction in fee and commission income. On the costs side, the group has seen a reduction in staff costs as well as a decline in loan loss expenses. CCFG will need to improve efficiencies as it has the second highest cost to income in the industry of 73%.

MIL records a 25% fall in net profit Published: 16 March 2011

Mayberry Investments Limited (MIL) recorded a 25% decline in earnings to $174.5Mn (EPS: $0.15) for the financial year ended December 2010. The company was significantly impacted by foreign exchange losses during the year of $235Mn compared to gains of $268.2Mn in 2009. However, a significant increase in fee and commission income given that the company has been the lead broker for several junior market listings as well as higher trading gains on fixed income securities helped to temper some of the impact. MIL’s cost structure though is cause for concern with a cost to income ratio of 82% - the highest in the brokerage industry. Therefore, in an environment in which there are significant pressures on revenue, the company will need to improve on operational efficiencies to become more competitive within the industry.

SDBG sees profits slip 14% for Q1 Published: 16 March 2011

Scotia DBG also reported lower earnings in the first quarter. The group recorded a 14% decline in net profit to $467Mn ($1.10). Of note, the comparative quarter reflected pre JDX earnings and as such, the significant decline in yields on the securities portfolio since then has weighed on the company’s performance. Net interest income fell 27% to $730Mn. SDBG however continues to reap the benefits of growth in non interest revenue through it’s off balance sheet products and the trend should continue over the subsequent quarters. Furthermore, the group saw a reduction in costs during the quarter reflecting lower staff costs along with a general decrease in other operating expenses.

SGJ records a decline in earnings in Q1 Published: 16 March 2011

Scotia Group Jamaica (SGJ) recorded a 4.2% decline in net profit for the first quarter. The group recorded Net profit of $2.6Bn (EPS: $0.83) compared to $2.8Bn (EPS: $0.86) in the same quarter last year. The decline in earnings was triggered by the decline in net interest margin as yields on the loan and securities portfolio were lower. The group’s Retail Banking arm was the star performer during the quarter reporting a 138% increase in operating profit. However, the Corporate Banking, Treasury and Investment Management segments recorded declines of 62%, 24% and 13% respectively.

SLJ declares dividends to shareholders Published: 10 March 2011

The Board of Directors of Sagicor Life Jamaica Limited has declared in interim dividend of $0.34 per share payable on April 7, 2011 to shareholders on record as at March 23, 2011. The ex-dividend date is March 21, 2011.

NCB Capital Markets Sporting Clays Open Now Two Days Published: 08 March 2011

The annual NCB Capital Markets Sporting Clays Open will this year be held over two days in an effort to observe international shooting tournament standards. Slated for Saturday, March 12 and Sunday, March 13 at the Caymanas Golf Club; the afternoon tournament will attract over 100 shooters and promises to be yet another exciting staging.

Read more ...

GK declares divdends and announces AGM date Published: 02 March 2011

The Board of Directors of GraceKennedy Limited (GK) has declared a dividend of $0.55 per share payable on May 27, 2011 to stockholders on record as at May 2, 2011. The ex-dividend date is April 28, 2011. GK has appointed Mr. Michael Ranglin to the Board of GK and as CEO of GK Foods Division effective March 1, 2011. The Annual General Meeting of GK will be held on Thursday, May 26, 2011 at 4:00p.m. at 73 Harbour Street, Kingston, Jamaica.

 

SDBG declares dividends to shareholders Published: 02 March 2011

The Board of Directors of Scotia DBG Investments Limited has declared a dividend of $0.33 per share payable on April 11, 2011 to stockholders on record as at March 21, 2011. The ex-dividend date is March 17, 2011.

SGJ declares dividends to shareholders Published: 02 March 2011

The Board of Directors of Scotia Group Jamaica Limited has declared a dividend of $0.37 per share payable on April 11, 2011 to stockholders on record as at March 21, 2011. The ex-dividend date is March 17, 2011.

CCFG's Annual General Meeting Published: 02 March 2011

The Annual General Meetings of Capital & Credit Financial Group Limited and Capital & Credit Merchant Bank Limited will be held on Wednesday, April 27, 2011 at 10:00 a.m. and11:30a.m. respectively. The meetings will be held at the Terra Nova All Suite Hotel, located at 17 Waterloo Road, Kingston 10.