JSE Jamaica Stock Exchange : NCB Financial Group Limited (NCBFG) – Release concerning recent separations

NCB Financial Group Limited (NCBFG) has issued the following press release.

PRESS RELEASE: NCB adapts business model for future dominated by tech giants

As the NCB Group continues to demonstrate strong financial performance, the Group also continues to review and adapt its operating model in order to ensure its sustainability and viability for the future. The financial services industry is currently being disrupted based on the rapid pace of technological change and consumer demands for financial services experiences that are simpler, faster, more affordable and more enjoyable. With these changes and with companies such as Amazon, Google and Apple now providing financial services, it is incumbent on NCB to adapt our business model to ensure we can meet our customers' expectations and compete strongly in the new norm. It is within the context of adapting and maintaining a relevant business model that some roles will become redundant, while new roles will be created and the demand for others will increase. This process must be ongoing to maintain a healthy viable business. While we have recently made some roles redundant, as occurs from time to time, we have also been aggressively recruiting programmers, data analytics specialists, project and programme mangers, agile coaches, scrum masters, user interface designers, solution architect - to name a few since April 2017 when we launched the first Agile Lab in the English speaking Caribbean.

We are committed to helping recently separated employees to enhance their employment ad entrepreneurship prospects. It is within this spirit that we are currently reviewing our Post Redundancy Entrepreneurship Programme (PREP), initially launched in 2010 and closed n 2011, which gave recently separated employees access to seed capital to start new businesses. This version of the programme would include sponsorship of select online courses in areas of study such as software development and data analytics - that are in high demand at NCB and elsewhere. The details of the revised programme have not yet been finalized, but communication to the relevant personnel will occur once that has happened.

NCB Financial Group Limited

Group Marketing and Communications Unit

32 Trafalgar Road Kingston 10 Jamaica W.I.

Sadé Powell - Agile Marketing Manager

Tel [phone]; Email: [e-mail]