Despite a challenging fiscal year, the leadership of the National Commercial Bank Financial Group, NCBFG, believes the entity is on the right track.

The executives of the conglomerate faced shareholders at an Annual General Meeting held virtually on Friday.

Shaloy Smikle tells us more.

Group Chief Financial Officer, Malcolm Sadler, says things were tough for NCB in the 2023 fiscal year.

While still in the Black, net profit across the group has declined significantly.

However, it was not all bad news.

Some segments of the business, including banking and investment, registered growth

Mr. Saddler says there are already signs of improvement all round in this new fiscal year.

Group CEO, Robert Almeida, was also upbeat about the future of NCBFG.

He highlighted the gains made in reducing expenses and improving operational efficiency.

The Chairman of NCBFG, Michael Lee-Chin told shareholders that the entity will be better in every aspect going forward.

Meanwhile Group CEO of NCBFG, Robert Almeida, believes the perception that it’s network of Automated Banking Machines, ABM are beset by problems, is far from the reality.

Robert Almeida, Group Chief Executive Officer of the National Commercial Bank Financial Group.