NCBCM acquires 29% in JMMB

NCB Capital Markets Limited (“NCBCM”), a wholly owned subsidiary of National Commercial Bank Jamaica Limited, has on August 5, 2011, purchased 428,777,325 shares in Jamaica Money Market Brokers Limited (“JMMB”). This acquisition represents a 29% stake in JMMB, which makes it an associated company of NCBCM. This acquisition is in line with NCBCM’s investment management strategy of taking positions in liquid financial assets and does not represent a move to take control of or acquire a majority stake in JMMB.

• Companies: JMMB Group Ltd |NCB Financial Group Ltd
• Industry: Banking
• Country/Countries: Jamaica