National Commercial Bank Jamaica Ltd.

The stable outlook on NCBJ reflects our expectation that over the next 12 months the bank will maintain its credit fundamentals, with manageable credit losses and adequate funding and liquidity. The outlook is also based on the stable outlook on the sovereign ratings on Jamaica. We also expect the bank to maintain its creditworthiness separate from the rest of the group. We could lower our ratings on the bank if credit fundamentals deteriorate or if we see a negative influence from the group. Also, we could lower the ratings if banking industry conditions worsen or if we lower the sovereign ratings on Jamaica, which we currently don't envision. It's highly unlikely that we would upgrade the bank in the next

...National Commercial Bank Jamaica Ltd. (NCBJ; legal name: National Commercial Bank Jamaica Limited) maintains a strong market position as the largest bank in Jamaica, along with its diversified businesses and stable revenue. NCBJ holds about a third of the Jamaican banking industry's market share in the last few years. The bank provides a wide range of banking products and services and has focused on fostering the use of digital platforms in the country. In line with the group, we expect NCBJ to concentrate efforts in enhancing customer experience and promoting cross-selling on offered products. Also, it continues to implement initiatives to facilitate financial inclusion in the country. The bank's asset quality remained stable but the non-performing loan ratio is still above pre-pandemic levels due to some pending corporate cases and to higher weight of the retail segment in the loan portfolio mix that has higher delinquency rates. NCBJ's nonperforming assets remained stable at 3.2% as...

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