NCB Fi­nan­cial Group (NCBFG) an­nounced on Thurs­day that its agree­ment to sell 30.20 per cent of its stake in Bermu­da's Clar­ien Group to Cor­ner­stone Fi­nan­cial Hold­ings (Cor­ner­stone), ex­pired with the par­ties not ex­tend­ing the agree­ment.

NCBFG and Cor­ner­stone ex­e­cut­ed the agree­ment on June 11, 2024, just short of 11 months ago.

Clar­ien re­mains a sub­sidiary of NCBFG domi­ciled in Bermu­da. It cur­rent­ly owns one of the lead­ing fi­nan­cial in­sti­tu­tions in Bermu­da which of­fers an ar­ray of bank­ing, wealth and as­set man­age­ment ser­vices and in­tends to main­tain its fo­cus on pro­vid­ing en­hanced val­ue to its cus­tomers, NCBFG said in a news re­lease.

NCBFG held an in­vestor brief­ing in Kingston yes­ter­day, dur­ing which it was point­ed out to NCBFG CEO, Robert Almei­da, that the ex­pi­ra­tion of the Clar­ien share sale was the sec­ond re­cent trans­ac­tion that had not been con­sum­mat­ed. The first was the sale of NCB Cay­man, which was al­so not com­plet­ed.

Almei­da said the fi­nan­cial group has a num­ber of strate­gies to ad­dress its goals, which in­clude in­creas­ing the re­silience and strength­en­ing the sus­tain­abil­i­ty of NCBFG. He said the non-com­ple­tion of those trans­ac­tions means the group has to do oth­er things.

"But the sale of the Thoma by Guardian Hold­ings did com­plete and the pro­ceeds there are ac­tu­al­ly greater than the sum of the Cay­man and the Bermu­da trans­ac­tions,"Almei­da said.

NCB Fi­nan­cial Group yes­ter­day re­port­ed prof­it af­ter tax of $22.19 bil­lion for the six months end­ed March 31, 2025. That was 187.4 per cent more than the J$7.72 bil­lion that the Kingston, Ja­maica-head­quar­tered fi­nan­cial hold­ing com­pa­ny re­port­ed for the same pe­ri­od in 2024. (US$1 = J$157). NCBFG is list­ed on the stock ex­changes of Ja­maica and T&T.