NCB improving investment opportunities says Deputy CEO

Deputy Chief Executive Officer of the National Commcercial Bank, Derry Williams, says that the issuing of government’s $40 million fixed rate bonds for 2006-2016 was a financial move to improve investment opportunities at the state-owned financial institution.

On Thursday September 14 the Caribbean Money Market Brokers, CMMB celebrated with the National Commercial Bank, NCB the issuing of government’s fixed rate bonds.{{more}}

The celebration took the form of a cocktail which was held at Basil’s Bar and Restaurant.

Williams said that the NCB over the past few months has been embarking on a re-structuring programme and with the assistance from CMMB they would continue to look for opportunities.

According to Williams the bank would be embarking more into the services sector and praised his staff and the CMMB for making the transition smooth.

The Deputy CEO expressed his gratitude, “It has been an invaluable experience and we thank CMMB for holding our hand through the process of issuing $40 million in fixed rate bonds. We now feel more comfortable as an institution not only to issue a bond but to underwrite it on our own.”

Williams however said that this type of financial service was a learning process and thanked customers for the investments which he said were resources to take their businesses to the next level.

Minister of Industry, Jerrol Thompson also commended the work of both the CMMB and NCB.

Meanwhile, Regional Manager of CMMB, Sean Spiers noted that the process took some 10 weeks to finalise and commended the government for taking up the initiative to gain interest on their money. He mentioned that the $40 million fixed rate bond investment was a sizable transaction for a government of this size and that it was fairly important on the market and has been quite well received.