Trinidad & Tobago

Caricom events cost TT $7.9 million

Foreign and Caricom Affairs Minister Dr Amery Browne told the standing finance committee in Parliament that $7.9 million was spent on hosting the Caricom’s 50th anniversary celebrations and related events and the 45th Caricom Heads of Government meeting, part of the 2023 allocation of $13.1 million to the ministry for  hosting conferences and other events.

The ministry was allocated $256,700,000 for the fiscal year 2023/2024.

Responding to Opposition Barataria/San Juan MP Saddam Hosein asking why the allocation for the sub-head had been reduced to $1 million for 2024, Browne outlined some events which cost $13.1 million.

“Total expenditure for Caricom 50th anniversary celebrations and commemorative events involving our Heads of governments and the 45th regular meeting of the Heads hosted here, was $7.29 million.

“The visit of the Ashanti warrior cost 830,000. The first visit by a foreign minister of Japan cost 19,231.”

Caricom 40th anniversary celebration cost $9 million, while both functions in 2023 cost $7.29 million, with expenditure undertaken via the Ministry of Foreign Affairs and other government departments.

The ministry paid for accommodation for the delegates and visitors as was customary.

The ministry had advertised the position of Foreign Service Officer I.

“This position is very important, providing the backbone of the Foreign service. We are seeking to fill 23 positions at this time, those advertisements have gone out. We’re also seeking to fill two IRO positions and that recruitment process is already underway.

“The total establishment is 300 at this stage, there are 124 positions filled and there are 67 vacancies and 109 vacancies in which we have personnel. We utilise contract positions to ensure the mandate of the ministry is fulfilled. We have 70 contract positions, 36 of which are currently filled and 34 vacancies in contract positions.”

The ministry plans to conduct audits of two of its 20 foreign missions in 2024. No audits were completed in the last fiscal year due to a lack of human resources and the loss of a member of staff.

Cost of the Caricom-Canada Summit is expected to be astronomical, covering transport and hotels which could have been saved by talks via Zoom, dominated by begging for aid for Haiti and security.

 

 

US Trade show will boost RE

Ambassador to TT Candace Bond met National Security Minister Fitzgerald Hinds, Chief of Defence Staff Air Vice Marshall Darryl Daniel and Commanding Officer of TTCG Commander Akenethon Isaac. Bond presented marine equipment valued at 1.2 millon US to the TT Coast Guard at Staubles Bay Chaguaramas in September.

US Ambassador Candace Bond described leading a delegation of Caribbean companies to the largest renewable energy trade show in North America as “an important moment.”

The delegation attending RE+ included US embassy staff from across the Caribbean and 70 renewable energy business and government leaders. RE+ aims to spread the word about the latest in the smart energy industry, including solar and wind energy. The five-day long event from September 11-14 in Las Vegas, Nevada was part of a US Department of Commerce programme that connects foreign buyers to US products and services.

This year’s edition broke records, with over 40,000 clean energy professionals present and over 1,300 exhibitors showcasing renewable energy products, technologies and solutions.

Experts in various fields including carbon reduction strategies, financing and capital investment, and sustainable energy gave presentations.

The Caribbean-based delegation networked for multiple days in direct contact with US suppliers and stakeholders in the industry. The delegation included officials from TT, the Bahamas, the Dominican Republic and Jamaica.

During the RE+ Global Markets Summit, Bond shared information about renewable energy investment opportunities in TT with US developers and suppliers. She highlighted how investment in the TT energy market has the potential to increase renewable energy generation, decarbonise energy exports and enable an energy transition that creates jobs and stimulates the economy.

The embassy said the event was an important opportunity to further TT’s energy transition and Caribbean energy security and provided even more avenues for collaboration and investment between the US and TT.   Bond led the delegation with the goal of advancing the US-Caribbean Partnership to Address the Climate Crisis 2030 (PACC2030).

PACC 2030 is a US government initiative aimed at tackling climate change and energy security in the Caribbean by advancing climate adaptation and resilience and clean energy programmes across the region.

Bond said, “RE+ was an important moment for US and Trinbagonian companies to benefit from clean energy innovation and growth. I was thrilled to share with American companies the renewable energy possibilities in the Caribbean and to showcase TT’s immense potential to complement its historic energy production with clean energy.”

Bond would be leading the delegation at the launch of the Caribbean Climate Investment Program (CCIP) last month. The CCIP will provide US$6 million in grants for small and micro-enterprises willing to aid in the shift to renewable energy across the region. The programme is a collaboration between USAID and the TT Chamber of Industry and Commerce. It aims to mobilise private-sector financing for solutions that advance climate-change mitigation and adaptation goals across the region.

 

 

Guyana

Local ladies win key offshore oil blocks

October 27, 2023

General Secretary of the People’s Progressive Party, Dr Bharrat Jagdeo, announced that Sispro Inc., led by four local businesswomen, secured two offshore oil and gas exploration blocks in a competitive auction.

Highlighting the significance of locals organising and collaborating with foreign companies in this high-risk sector, he said.

“This is a very risky sector, and I am extremely pleased that the locals have been able to organise themselves, to work with some foreign companies, ad to put in their bids. Now that the award has been made, we now have to meet with the parties to which the blocks have been awarded to have a negotiation on the contracting, to move towards the completion of the award”.

In preparation for negotiations with the awarded parties, Dr Jagdeo emphasised the government’s commitment to firm fiscal terms outlined in the Product Sharing Agreement (PSA), prioritising transparency and accountability. While open to minor adjustments in the PSA, he asserted that the essential fiscal terms would remain unchanged. Negotiations will commence next week, with a focus on achieving a balanced division of revenue between government and contractors.

The minimum signature bonus requirements are US$10 million for shallow water and US$20 million for deep water blocks.

Addressing the possibility of challenges in finalising arrangements with all companies, he stated, “If their demands are extreme, then we will simply not proceed with the signing in that regard.”

Out of the eight bids submitted, six companies have been awarded exploration blocks.

Guyana, Russian, Cuban envoys discuss Venezuela

AS tension mounts over Essequibo , Guyana’s Foreign Affairs Minister discussed the Venezuelan claim with Russian and Cuban ambassadors. The two countries have been involved in a tit-for-tat over which rightfully owns the region west of the Essequibo River. The matter is currently before the International Court of Justice (ICJ). The disputed area is rich in gold, diamonds, timber and other natural resources.

Both countries have since warned each other that continued tensions can incite violence, and Caricom has indicated it supports Guyana. Caricom hopes a December 3 referendum on the disputed area would not encourage the Venezuelan government to annex the region, which constitutes two-thirds of Guyana.

Guyana’s Foreign Affairs Ministry said Hugh Todd met Cuban ambassador Jorge Francisco Soberón Luis and Russian ambassador Alexander Kurmaz.

“During the meeting, Minister Todd provided an update on the recent actions by Venezuela. The Minister reiterated that the Government of Guyana is committed to a peaceful resolution of the case before the ICJ and the region being a zone of peace.”

Secretary-general of the Organization of American States (OAS) Luis Almagro said he supports Caricom’s stance on this.“We condemn any act that constitutes a breach of peace and an attempt to encroach on a country’s sovereign borders. This is an irrefutable violation of Guyana’s territorial rights.”

 

Maritime licences from Guyana ‘null, void’

 

The Venezuelan government is warning energy companies authorised by Guyana to explore its petroliferous maritime area that such permission is “absolutely null and void.” This follows rapidly rising tensions over a territorial dispute which extends to the 1800s.

Over recent weeks, the petrostates have been in a feud over Guyana’s Essequibo region – a matter which is currently before the International Court of Justice (ICJ). Both countries have warned each other that continued tensions can incite violence and Caricom supports Guyana. The disputed area abounds in gold, diamonds, timber and other natural resources.The Venezuelan government will host a referendum on December 3 on this claim which Guyana sees as a kickstarter to “annexing” two-thirds of it.

On Thursday, the Guyanese government announced the companies that won bids for its offshore exploration. One Guyanese company, Sispro Inc, the lone individual bidder, was awarded blocks S3 and D2.

Bidders included TotalEnergies, Qatar Energy, and Petronas (S4), International Group Investment Inc and Montego Energy (S5), Liberty Petroleum Corporation and Cybele Energy (S7), ExxonMobil, Hess, and CNOOC (S8), International Group Investment Inc. and Montego Energy (S10) and Delcorp Inc, Watad Energy and Arabian Drilling Company (D1).

The Venezuelan government told transnational energy companies “that have received, illegally, from the Government of Guyana, authorisations to explore and exploit hydrocarbons in a vast undelimited maritime space, that such actions are absolutely null and void and contrary to public international law and the principles enshrined in Venezuela’s Constitution.”

Because of this, it urged all such companies to “avoid any incursion” into the area “as it constitutes a violation of (our) sovereign rights, constitutional order…”

It believes the Guyanese government has assumed a “reckless policy of association” with the US Southern Command for the “unauthorised deployment of military exercises in the area, which today constitutes the greatest threat to the peace and stability of the Caribbean region, aggravating these actions and generating important risks…”

The statement said Venezuela maintained a doctrine of peace and called on Guyana’s government to have “direct dialogue… “That may allow for seeking paths towards the re-establishment of international law, broken by the granting of oil licenses in a maritime space to date and announces to the international community that it will continue with its diplomatic efforts in defence of its historical rights.”

Guyana’s Foreign Affairs Ministry said Todd met Cuban ambassador Jorge Francisco Soberon Luis and Russian ambassador Alexander Kurmaz

The ministry said, “During the meeting, Minister Todd provided an update on the recent actions by Venezuela. The Minister reiterated that the Government of Guyana is committed to a peaceful resolution of the case before the ICJ and the region being a zone of peace.”

Secretary-general of the Organization of American States (OAS) Luis Almagro said he supported Caricom’s stance on the issue.

“We condemn any act that constitutes a breach of peace and an attempt to encroach on a country’s sovereign borders. This is an irrefutable violation of Guyana’s territorial rights.”

 

 

Trinidad & Tobago

Energy sector pursues regional collaboration

TT National Energy Corporation, a subsidiary of the National Gas Company Ltd (NGC), has been working with Guyana and Suriname to build human and infrastructural capacities in the energy sector, to the mutual benefit of all parties. TT’s energy sector is moving forward with human resource and infrastructural collaborations with its energy neighbours.

Vernon Paltoo, president of National Energy, told the TT Energy Chamber that since last year National Energy has been working closely with the Energy Chamber to access its members, as well as relevant entities within the region, to build those bridges and capacity, more so since a memorandum of understanding (MoU) was signed between TT and Suriname earlier this year.

Paltoo was on a panel at the Energy Chamber annual general meeting (AGM), in which the executive committee was elected unchallenged. National Energy is “committed to the sustainability of the local and regional energy sector” through development of gas and energy-based industries while providing associated infrastructure to support these industries.

There are parallels between the objectives of the company and those of exporTT, whose mandate includes assisting its local small and medium enterprises to navigate export markets.

TT has been exploring regional markets, the US and parts of West Africa. This country and the wider Caricom will benefit to a greater degree if it operates with collective objectives. In June, TT and Suriname signed an MoU, following a meeting between the leaders, Prime Minister Dr Keith Rowley and Suriname President Chandrikapersad Santokhi.

“Both countries will now establish technical teams which will produce feasibility studies for their respective governments and this exercise will determine the way forward,” the Office of the Prime Minister said, following the signing of the MoU.

The MoU aims to increase energy co-operation and could lead to natural gas from Suriname being piped to TT. Paltoo said that since TT has been developed through proceeds of the energy industry for the past century, the intention is to assist Suriname and Guyana, while avoiding some of the challenges in developing the local industry.

The Energy Chamber’s re-elected chairman Jerome Dookie, at the post-AGM discussion, said, “As a country, we have been unable to secure the investments that we need in upstream gas production in order to maintain our mid and downstream industry at full capacity. Given the size of the downstream sector in the country and the natural declining rates of gas reservoirs in TT, securing the investment dollars needed in the upstream production would have been challenging.

“But then, we also need to layer over the global capital markets and have a major influence over where they will allocate their investment dollars.”

Addressing this challenge is vital for the success of both large and small companies.

“In addition to getting the right climate for continued investment into the gas industry in TT, the Energy Chamber has placed a major focus on the integration of the energy services sector within the Caricom Single Market and Economy (CSME).”

The announcement that Caricom governments would fully implement the free movement of citizens in 2024 is a major breakthrough and something the Energy Chamber has been pushing for many years.

“The majority of our advocacy work on regional integration takes place outside of the media spotlight and through institutions such as the Caribbean Chambers Network and the Caricom Private Sector Organisation. I am pleased to say that the Energy Chamber plays a leading role in both of those bodies, as well as other mechanisms that foster regional co-operation and integration.”

 

 

6 Dragon risks

2023, 10/29

Mariano Browne

The current level of natural gas production can only keep some of the plants operating at reduced capacity. Train 1 and other petrochemical plants are closed because of insufficient gas. Therefore, every effort must be made to find additional natural gas supplies through exploration, developing smaller unutilised fields, and accessing gas in Venezuela waters if possible.

Previous articles evaluated the approach to Venezuela’s Dragon Gas field arguing that the absence of any definitive legal arrangements, like the award of a production licence means that Dragon does not satisfy the definition of a project.

Before proceeding, as a first step, the political risk regarding the development of the Dragon field must be evaluated. The proposed investment in the Dragon development is subject to at least six primary risks.

• The first risk is the outcome of the proposed Venezuela elections. The agreement to hold elections led to the selection of Maria Corina Machado as the Opposition candidate who won by a landslide in an opposition primary to choose a candidate for next year’s presidential election.

Either Machado or Maduro can win. If Machado wins, will her administration be as disposed to negotiation with GORTT?  This is unknown. What is also unknown is how the Venezuelan military (which has close ties to the Maduro regime) will react. If Machado wins and decides to take legal action against Maduro, this could make the situation even more unstable. There has been no successful coup in Venezuela for many years, but that is still possible.

• The second is a geopolitical risk in the form of US sanctions, imposed in response to Maduro’s re-election in 2018, which the US and EU deemed fraudulent. This created a “boundary condition.” Even if T&T negotiations proceed, the US must ease its sanctions to facilitate any deal. After more than a year of secret negotiations, the US made a risky bet on Venezuela, easing sanctions that had barred gold and oil exports, hoping that in exchange, Venezuela’s long-ruling socialist president Nicolás Maduro would hold a competitive election next year and release political prisoners. Hence T&T’s OFAC licence.

Machado is an obstacle. She is banned by law from participating in any elections for 15 years. She refuses to negotiate with the Government, wants Maduro tried for crimes against humanity and has in the past advocated foreign military intervention in Venezuela, a position that could be deemed treasonous.

Suspending sanctions has led to more complications. The US has relaxed sanctions in the expectation of a specific timeline for free and fair elections. A lot now depends on how the Maduro regime responds. What if the responses are deemed inadequate? Why would the regime reinstate Machado if she is a credible election threat? What will be the Republican position on sanctions against Venezuela in the run-up to the 2024 US presidential election?

While the Maduro government wants to improve the economy and normalise the country after inflicting a decade of hardship, the ruling Chavista movement intends to win next year’s election and remain in power. How will the US respond should Maduro win and how would the US address the temporary ease in sanctions if US soft power does not achieve its intended result?

• The third political risk relates to Venezuela’s territorial dispute with Guyana. Venezuela claims 160,000 square miles (two-thirds of Guyana), the oil and mineral-rich Essequibo region. This dispute started in 1899 and was reignited in 1962. The region is shown as “Zona Reclamada” on all Venezuela maps. Caricom condemned Venezuela’s intent to hold a referendum on defending Venezuela’s claim to the Essequibo region, the outcome of which could lead to an annexation of the territory.

Even if Venezuela’s action is sabre-rattling. pursuing T&T’s national interest does create a diplomatic conundrum. How does T&T negotiate with Venezuela as it pressures Guyana? What spin would be acceptable to T&T’s regional partners and our US ally? Last week US Ambassador Bond and the US Southern Command Deputy Vice Admiral Holsey met the Prime Minister and the Foreign Affairs minister to discuss continued security cooperation between the US and T&T. Perhaps the meeting was merely a courtesy call.

The US can acquire the region as Unincorporated Territory, repatriate atavistic activists and end woes.

• The fourth risk is also geopolitical. War is asymmetric meaning that it is fought in different forms simultaneously. The US is challenged in two wars concurrently, in the Ukraine and the Middle East. There are fields on both sides of the Dragon where operators have interests in both spheres of influence. China, Russia and Iran have strategic interests in Venezuela, This is the most serious risk.

 

• The fifth risk is Venezuela’s track record in energy sector deals. ConocoPhillips’ legal action concerning the PetroZuata project raises issues that a potential operator cannot ignore. Shell practically invented scenario planning and has undoubtedly examined the risks. There are 23 similar cases. Before serious negotiations begin, these risks must be evaluated. They are deal breakers.

 

• The sixth risk is corruption from nepotism to racism, jeopardising internal and external progress.

Mariano Browne is the Chief Executive Officer of the UWI Arthur Lok Jack Global School of Business

 

 

Essequibo explosion

TT Prime Minister Rowley appeared relaxed as he addressed media over the escalation of tension between Venezuela, Guyana and Caricom over the disputed Essequibo region, Asked to comment on the impact of the Essequibo on the pending Dragon gas deal between this country and the regime of Nicolás Maduro. he said, nonchalantly, “Let us not overplay our response. This is essentially a border dispute between Venezuela and Guyana,

I don’t see a close connection.”

The lackadaisical leader is aware of several connections.

President Maduro put in motion a referendum on the decades-long dispute, that relates to two-thirds of the land mass of resource-rich Guyana. The matter is already before the International Court of Justice. Its jurisdiction comes from a treaty signed in 1966 by the two countries.

Venezuela will ask its population whether the regime can ignore the court and act “by all means” to establish the region as a part of his country.

He accuses Guyana President Dr Mohammed Irfaan Ali of illegally monetising the land by awarding oil and gas exploration contracts and of a “stubborn association with the interests of the US Southern Command.”

With a presidential election due next year and with opposition figures like Maria Corina Machado on the rise, Mr Maduro may well be playing to the local gallery. That is why these actions are concerning. By turning this colonial-era dispute into a potential platform for re-election, Maduro may be emboldened to take drastic action.

The fact that the dispute is also about hydrocarbon resources and that the Venezuelan leadership has framed the issue as an attempt to exorcise US influence in the region suggest direct implications for the fate of the Dragon gas deal, which was only recently jump-started thanks to a US sanctions exemption. That deal is still being negotiated. Maduro is yet to issue a final licence.

The naive Rowley focused on recent foreign-affairs breakthroughs. The relationship between Caricom and Canada has been strengthened by cash for aid. The relationship between Caricom and Saudi Arabia has upward momentum, seeking cash for investment. Having twisted Canadian arms for public funds, prostrating themselves before OPEC trillionaires, believing they are insulated from threats .

In contrast, the relationship between Caricom and Venezuela is dissolving. Whereas the bloc might have once served as a mediator in the Essequibo issue, its upbraiding of Venezuela is a sign of considerable unease. The Caricom public would be forgiven for wondering if the Dragon gas matter is blighted. For almost a decade, the government has staked much of the TT economic fortune on it and, unlike its careless attitude to corruption and crime, it should be worried.

NCB

2023, 10/04

TT financial executive Angus Young has been appointed as new CEO of NCB Capital Markets (NCBCM), parent of the NCB Merchant Bank (Trinidad and Tobago), the local non-bank financial institution and broker-dealer.

Young,  brother of Minister of Energy Stuart Young, is the son of Richard Young, the chairman of the TTIFC.

NCB Financial Group emphasised Young’s wealth of experience and expertise in the financial industry, citing his numerous leadership roles regionally and within the organisation.

Young replaced Steven Gooden, who resigned as CEO of NCBCM effective September 30.

Young joined NCB in 2014 when he assumed the role of CEO of NCB Merchant Bank (Trinidad and Tobago) Ltd.   In 2018, he was also appointed regional head of Investment Banking at NCBCM and maintained dual roles until his appointment as executive vice president—Regional Investment Banking and New Markets at NCBCM in July 2022.

Before joining the NCB Group, Young was assistant vice president of capital market origination at the RBTT Merchant Bank and as the managing director of BDO Financial Advisory Services.

Young was enthusiastic about his new appointment and eager to deliver on the company’s commitment to empower its clients to unlock their financial aspirations.

“Our aim is to foster the growth and diversification of our clients’ portfolios by leveraging our vertically integrated model which starts with the manufacturing of assets by our investment bankers, and giving our clients access to these opportunities only after they are subject to our solid governance and risk management frameworks. This access incorporates a wide range of services and solutions, delivering an all-encompassing wealth management experience. We are embarking on an exciting journey to make this vision a reality. Our aim is to equip our clients with the tools, expertise, and guidance they need to navigate the complexities of wealth management confidently.”

Also resigning from NCBFG last week was Septimus Blake, the former CEO of National Commercial Bank Jamaica (NCBJ). NCBFG chairman Michael Lee-Chin explained that the departures of Blake and Gooden were as a result of NCBFG deciding to “delayer” the group, a transformational initiative designed to bring the company and its subsidiaries closer to its customers.

“Sometimes stars align as companies periodically change their bearings and people may want to go on to do other things … We did not push out anyone.”

Simultaneous with the delayering of the group, a decision had been taken to hive off the wealth management business from NCB Capital Markets.

“We are putting wealth management on its own with an independent focus and its own growth trajectory.”

NCB Financial Group Limited (“NCBFG”) was incorporated in April 2016 to be licensed under the Banking Services Act as the financial holding company for National Commercial Bank Jamaica Limited (“NCBJ”). NCB is the largest and most profitable financial services group in Jamaica with roots dating back to 1837.

Through the bank, its wealth management, life and general insurance, and offshore banking subsidiaries, NCBFG offers the complete suite of financial services which are accessible through a diversified portfolio of companies and innovative products to meet the needs of individual and business clients.

The NCB Group includes NCBJ, NCB Capital Markets Limited and its subsidiaries in Barbados and Cayman, NCB Insurance Agency & Fund Managers Limited (“NCBIAFM”), NCB (Cayman) Limited, Clarien Group Limited and its subsidiaries in Bermuda, Guardian Holdings Limited and its subsidiaries as well as NCB Merchant Bank (Trinidad and Tobago) Limited.

The complete financial service offerings of NCBFG are accessible through our diversified NCB stands as the largest financial group in Jamaica, focused on maintaining a profitable organisation, which provides highly competitive and innovative products and service offerings for our customers.

NCB GROUP OF COMPANIES

National Commercial Bank Jamaica Limited
National Commercial Bank Jamaica Limited (“NCBJ”) which provides an array of products & services to meet the banking needs of customers: deposit accounts, unsecured and secured loans, credit cards, overdraft lines, foreign exchange, personal, and private banking services are part of the offerings. In Jamaica, our network remains unmatched with 32 branch locations, over 300 ABMs and Kiosks and over 8,000 merchant locations. Online banking is available at www.jncb.com, along with telephone banking and our 24/7 Customer Care Centre at 888-NCB-FIRST (622-3477).

NCB Capital Markets Limited
NCB Capital Markets Limited is the wealth and asset management arm of the NCB Group, offering investment and brokerage solutions for individual and corporate clients and investment banking solutions to our corporate clients.

NCB Insurance Agency & Fund Managers Limited (formerly NCB Insurance Company Limited)
In October 2020, NCB Insurance Company Limited (“NCBIC”) transitioned to its new business as a corporate insurance agent under a new company name – NCB Insurance Agency & Fund Managers Limited (“NCBIA”) – when it transferred its insurance and annuities business to affiliated company Guardian Life Limited (“GLL”). NCBIA continues to offer NCBIA world class pension fund administration and investment management services for retirement schemes and superannuation funds. As an insurance agent, NCBIA exclusively sells the life insurance products of GLL, which includes the products that were originally owned by NCBIC.

NCB (Cayman) Limited
NCB (Cayman) Limited is the offshore banking subsidiary of the NCB Group and provides banking and trust services.

Clarien Group Limited
Clarien Group Limited owner of Clarien Bank Limited based in Bermuda, provides financial solutions in personal, commercial and private banking, investment & wealth management and trust services to its customers. Clarien Bank offers online services at www.clarienbank.com.

Guardian Holdings Limited
Guardian Holdings Limited (GHL) is the parent company for an integrated financial services group known as Guardian Group, with a focus on life, health, property and casualty insurance, pensions and asset management. The company has grown steadily and currently serves markets in 21 countries across the English and Dutch Caribbean, including Trinidad & Tobago, Barbados, Jamaica, Curacao, Aruba, St. Maarten and Bonaire.

NCB Merchant Bank (Trinidad and Tobago) Limited (formerly NCB Global Finance Limited)
NCB Global Finance Limited provides merchant banking services including deposits, origination of loans and leases and provision of foreign exchange and trustee services.

NCB UK Representative Office & NCB Financial Services UK Limited
NCB UK Representative Office (the only arm of the Retail Banking business that is based outside Jamaica) & NCB Financial Services UK Limited focus on the remittance of pensions and provide general support to NCB customers who reside in the United Kingdom.

N.C.B. Foundation
N.C.B. Foundation is the bank’s philanthropic arm, fulfilling our commitment as a leading socially responsible corporate citizen, actively building the communities in which it serves.