NCB lost heavily on its commercial and and customer banking segments

Last year, National Commercial Bank (NCB) lost $3.2 billion or 278 percent on its commercial and banking segments of its operations.

The losses came mainly from the Jamaican and Bermudan portfolios. Credit impairment losses in both countries grew by $3.1 billion.

But the commercial and consumer banking segment was the only business line that recorded a loss.

All the other six business segments — payment services, corporate banking, treasury and correspondent banking, wealth, asset management and investment banking, life insurance and pension fund management and general insurance, were profitable in 2019.