NCB Global Finance Limited (NCBGF) has announced that Caribbean Information & Credit Rating Services Limited (CariCRIS) has assigned to it an initial Issuer/Corporate Credit Rating of CariA (Foreign and Local Currency) on the regional rating scale, and ttA on the T&T national scale.
According to NCBGF, these ratings indicate that the level of creditworthiness of NCBGF, adjudged in relation to other obligors within T&T and the Caribbean, is good.
“CariCRIS has also assigned a stable outlook to the ratings This achievement is a testament to the intellectual capital and institutional willingness that drives the company, the aggressive business growth strategy and targets, robust Corporate Governance practices and the ongoing efforts to create brand and product differentiation.”
According to the media release, CariCRIS is the Caribbean’s leading credit rating agency, with shareholding by regional Central Banks, several major regional commercial banks, and CRISIL, an associate company of the globally recognized rating agency Standard & Poor’s.
NCBGF started operations in December 2013 following the acquisition of AIC Finance Limited by NCB Capital Markets Limited. AIC Finance was rebranded NCB Global Finance in September 2014. NCBGF is a licensed Non-bank Financial Institution and Broker-Dealer and is regulated by the Central Bank of T&T and the T&T Securities and Exchange Commission.
The media release said the launch of NCBGF into the local scene represented an important step in further deepening the integration and strengthening of the Caribbean financial system given that it marked the first entry of Jamaica’s largest financial institution into the largest regional economy.
Subsequent to acquiring and launching NCBGF, the NCB Financial Group in 2019 acquired majority control (62 percent0 of Guardian Holdings Ltd., the largest insurance conglomerate (GWP) in the English Speaking Caribbean.
The media release added that through the employment of a ‘hub and spoke’ model, NCBGF’s Corporate and Investment Banking desk covers T&T, Guyana, Suriname and the Dutch Caribbean.
“In order to support aspirational growth targets, NCBGF has and continues to focus on gaining a competitive advantage in Trinidad and Tobago (‘T&T’) via product and brand differentiation and by leveraging the NCB Financial Group’s various interests by synergising product, intellectual capital, brand power and distribution network.”