NCB (Cayman) Ltd Maintains CariA Rating & NCB Capital Markets Celebrates Upgrade: A Testament to Financial Excellence and Strategic Growth

GEORGE TOWN, CAYMAN, CAYMAN ISLANDS, January 3, 2024 /EINPresswire.com/ -- NCB (Cayman) Limited has reaffirmed its robust CariA rating on the regional scale, a reflection of its sound financial standing and leadership in the Cayman Islands' financial sector. This endorsement is reflective of the company's solid financial foundation and positive performance within the thriving economic landscape of the Cayman Islands.

The rating affirms NCB (Cayman) Limited's strong affiliation with the NCB Financial Group, its strong financial performance, and adequate capitalisation. Despite the rising interest rate environment, NCB (Cayman) Limited benefits from the Cayman Islands' transparent and robust regulatory framework and with an investment portfolio consisting largely of fixed-income securities rated B or above, its asset quality remains strong.

NCB Capital Markets (Cayman) Ltd is also celebrating good news, having achieved an upgrade to CariA on the regional scale while retaining a strong jmAA- rating in Jamaica. This milestone is significant for the Cayman Islands as it represents the subsidiary's growing financial stability and potential for increased investment opportunities within the region.

Tuula Jalasjaa, Acting Managing Director of both NCB (Cayman) Limited and NCB Capital Markets (Cayman) Ltd said:

"The steadfast CariA rating of NCB (Cayman) Limited confirms our continued dedication to financial excellence within the Cayman Islands. NCB has had a continuous presence in The Cayman Islands since 1992 and we’re proud to uphold the high standards that have fortified our reputation as a trusted financial institution.

This, coupled with the remarkable upgrade of NCB Capital Markets (Cayman) Ltd, is a dual testament to our Group's strategic growth and market presence across the Caribbean, reinforcing our commitment to our clients and our vision for the future."

This dual recognition from CariCRIS highlights the NCB Financial Group's dedication to maintaining high standards in banking and financial services, showcasing the Group's strength and economic resilience within the Caribbean.

Kelly Williamson
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