Relevant market share and strong bank name recognition Improving financials Concentration on Jamaica sovereign bonds and loans to public entities Larger-than-peer concentration by amount and industry Operating in a small, highly indebted, nondiversified economy The ratings on National Commercial Bank Jamaica Ltd. (NCB) are constrained by the sovereign ratings on Jamaica, as sovereign bonds and loans to public entities represent most of NCB's assets. The ratings are also constrained by NCB's larger-than-peer loan concentration in its main clients and its operating in a relatively small, highly indebted, and nondiversified economy. The ratings are supported by the bank's relevant market presence in the Jamaican banking system and improving operating performance since the bank's privatization in 2002. NCB maintains a large exposure
