Date: January 25, 2019
At NCBFG’s first investor briefing for the 2019 calendar year, NCBFG’s President and Group Chief Executive Officer, Mr. Patrick Hilton, briefly outlined their strategic outlook for 2019. NCBFG’s Group Chief Financial Officer and Deputy Chief Executive Officer, Mr. Dennis Cohen gave a brief review of the Group’s record performance in 2018, the performance for the first quarter of 2019 and non-financial highlights.
NCBFG for the 2018FY produced record profits attributable to shareholders, surpassing its 2017FY profits of $19.11 billion by 46% to close the year at $27.96 billion. Ending the first quarter for the 2019 financial year, NCBFG recorded a 2% decrease in net profits to close the quarter at $7.44 billion relative to $7.54 billion in 2018. It was noted during the Annual General Meeting (AGM) that the company is proud of the financial metrics that have improved both locally and internationally. The Chairman, Hon. Michael Lee-Chin praised his team of directors of management for their substantial contribution to this growth that the company has seen.
The Chairman made reference to the acquisition of Guardian, stating that the offer period for the acquisition should be finalized by February 7th, 2019. Mr. Cohen noted, “If all goes as planned, we should expect to see the consolidated financials of the deal reflect in Q2’s quarterly report later this year”
The Group also celebrated an increase in dividend payments from 70 cents per ordinary stock unit to 90 cents per share. In light of their achievements for 2018, and the first quarter for 2019, Mr. Patrick Hilton elaborated on the most important highlights for the management team. He indicated:
- The creation of the NCB Financial Group: He stated this Group has, “facilitated the rapidly scaling up of their acquisition activities, including Clarien in Bermuda as well as Guardian Holdings Limited”
- The continued growth of their digital platform throughout each segment.
At the end of 2018FY, NCBFG made record breaking achievements to conclude 2018 FY year, some of these achievement include:
- A 41% growth in asset base and 12% growth in equity.
- Accusation of Clarien as well as Guardian Holdings.
- Improved revenue from Corporate Finance and investment activities.
- Top 10 among Canadian banks.
- Top 80 among Top 5,600+ US banks.
Mr. Cohen noted that NCBFG will not be doing a stock split as they believe that this will not add any value to the company. According to the Group Chief Financial Officer and Deputy Chief Executive Officer, this conclusion was based on the research conducted based on 2 parameters including share turnover ratios as well as different revenue multiples and ratios. Some of the metrics used include:
- The price to book ratio
- Shareholder volume relative to the stocks outstanding
- Stock volatility
- Price to earnings ratio
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