No staff cuts in the near future at NCB

Staff at the National Commercial Bank (NCB) can breathe a bit easier having been given the assurance that there will be no staff cuts in the immediate future.{{more}}

Andre Iton, Chief Executive Officer (CEO) of the NCB, said at a press conference on Tuesday, October 12, the new owner, East Caribbean Financial Holdings (ECFH), has given the bank’s management the assurance that the present staff composition is consistent with their needs for the foreseeable future.

“Clearly they are buying the institution because they intend to grow the institution, and if the institution is going to grow, clearly then there is going to be a need for additional staff as they go forward.

“In the immediate future, there are no indications from any source that the sale of the bank is going to have any impact in terms of the size of the staff negatively,” said Iton.

He said that one would hope that based on the strategic thrust of the ECFH, it will lead to growth in the bank and the economy, leading to the creation of additional jobs.

“When a private sector entity buys something they don’t buy it to shrink it. They buy it to grow it, and consequently, what we should be expecting is growth in jobs and activity emanating from the sale, not contraction,” said Iton.

He further explained that clients can expect the quality of service at the bank to be enhanced as the institution moves into a more competitive environment and an increase in the range of services being offered.

“Like anywhere else, nothing is going to change in terms of how your account is going to be conducted, the people you’re going to interact with,” said Iton, reiterating that “absolutely nothing changes.”

“All that changes is a portion of the shareholding that was previously in the hands of Government goes in the hands of a private entity that is bent and committed to make the operation far more efficient and effective,” said Iton.

Iton assured the public that in the immediate future there will be no significant changes at the NCB and any changes that are forthcoming could only be for the better, the expansion and the efficiency of the operation.(HN)