National Commercial Bank Jamaica Limited (NCB) Risk Report

🛡️ Financial & Liquidity

National Commercial Bank Jamaica Limited (NCB) is financially stable, but it has faced several fraud-related incidents affecting liquidity. Recently, a series of phishing scams and fraud cases have been detected, putting the bank at risk for potential financial losses. The management has taken significant measures to address these issues.

• Jamaica Observer reported a major phishing scam on 🗓 March 15, 2025, leading to 12 arrests in a $47.5 million fraud case.
• A report by Jamaica Gleaner on 🗓 November 26, 2024, noted the arrest of a JDF soldier involved in a $47 million phishing scam.
• NCB identified a 70% reduction in fraud losses as of 🗓 August 10, 2024, signaling their efforts' effectiveness.
• On 🗓 December 9, 2024, Jamaica Gleaner reported the charging of a policeman among six others connected to scamming an elderly NCB customer.

⚖️ Legal & Regulatory

NCB is navigating legal and regulatory challenges with several fraud-related arrests and ongoing investigations. This reflects their commitment to enhancing security and legal compliance. However, these incidents underscore the importance of maintaining rigorous compliance and regulatory frameworks to mitigate risks.

• On 🗓 April 4, 2025, Jamaica Observer covered charges against suspects involved in an NCB phishing scam worth $47.5 million.
• The Jamaica Gleaner on 🗓 October 30, 2024, detailed issues related to Uber transactions, highlighting regulatory compliance concerns.
• Jamaica Gleaner reported 🗓 December 4, 2024, on arrests connected to smishing scams, emphasizing legal compliance risks and regulatory vigilance.

👥 Labor & Workforce

NCB has undergone several labor-related changes, indicative of challenges in maintaining workforce stability. The organization has been involved in wage negotiations and management restructuring to address these concerns.

• On 🗓 January 31, 2025, RJR News reported on NCB reorganizing its management team.
• Jamaica Gleaner highlighted employee restiveness following a wage offer reported on 🗓 March 3, 2025.
• On 🗓 September 29, 2023, NCB underwent more executive changes as reported by Jamaica Gleaner.

🏗️ Operational & Business Continuity

NCB has launched initiatives to improve operational efficiency and ensure business continuity amid digital transformation demands. This is crucial as the bank looks to maintain and extend its service delivery capabilities.

• Jamaica Observer reported on 🗓 September 25, 2024, about platform restoration after a banking outage.
• On 🗓 January 8, 2024, NCB reported improvements in its ABM and POS services as highlighted by Jamaica Gleaner, demonstrating a focus on operational effectiveness.

📜 Innovation & R&D

Innovation remains a priority for NCB, evident in their digital initiatives to enhance banking experiences and expand their technological footprint.

• NCB pushed digital payment initiatives on 🗓 May 30, 2025, as detailed by CoinGeek to remain competitive in the financial services sector.
• On 🗓 October 17, 2024, Jamaica Observer emphasized the introduction of features such as block/unblock debit cards via their mobile app, highlighting innovative strides in customer service.