The NCB Financial Group, NCBFG, has reported savings of $8 billion as a result of cost cutting measures.

Interim Chief Executive Officer of the Group, Robert Almeida, made the revelation while speaking on Nationwide at Five on Monday.

Robert Almeida, Interim Chief Executive Officer NCB Financial Group.

The whopping $8 billion savings come as the company announced that it will pay an interim dividend of 50 cents per ordinary stock unit on December 18 this year.

It’s the first dividend payout by the group in three years. All shareholders on record as of December 4 will be eligible for the payout.

Group Chairman, Michael Lee Chin, says the goal of the measures is to ensure their shareholders are rewarded. 

Michael Lee Chin, Chairman of the NCB Financial Group.

He was also speaking on Nationwide at Five on Monday.