Acquisition of AIC Finance Ltd by NCB Capital Markets Ltd

National Commercial Bank Jamaica Limited has advised on December 16, 2013 that the acquisition of AIC Finance Limited by NCB Capital Markets Limited has now been completed.

AIC Finance Limited was incorporated in the Republic of Trinidad and Tobago and held licenses under the Financial Institutions Act, 1993, as a financial institution with authority to undertake businesses as: finance house/finance company, confirming house/acceptance house, leasing corporation, mortgage institution and bureau de change.  Today the business accepts deposits, originates finances and services loans and leases, invests in investment securities, including certificates of participation in asset backed securities, and provides foreign exchange and trustee services.

Steven Gooden, CEO NCB Capital Markets shares what the acquisition represented for the enterprise: “We are seeking to expand to regional markets and grow our business through mergers and acquisitions.  This is another transaction that has strategic alignment with vast customer-value potential as well as realization of organizational vision.”

Gooden further stated, “Our goal at NCB Capital Markets is to continue to drive and secure wealth for all our stakeholders and we are proud of this milestone achievement for our Group.”