Chief Executive Officer of the NCB Financial Group, NCBFG, Robert Almeida, says the timing must be right before it goes to the market to raise fresh capital in an additional public offering, APO.

An APO involves the issuer offering more shares in the primary market.

While the bank remains in a strong fiscal position, it suffered from lower earnings over the course of the 2023 financial year.

Mr. Almeida says NCBFG is not actively considering a buy back of shares at this time.

Robert Almeida, CEO of the NCB Financial Group. Mr. Almeida, was addressing shareholders at NCB’s annual general meeting last Friday.