The conglomerate NCB Financial Group Ltd (NCBJ) reported net profit of $5.2 billion for the quarter ended March 2026, down sharply from $17 billion in the same period a year earlier — a decline driven almost entirely by a one-time gain the group booked in the prior year from the sale of a Dutch insurance brokerage unit.

Strip out that disposal gain, which contributed $15.1 billion to consolidated net profit in the March 2025 quarter, and the underlying picture looks markedly different, with the recent quarter showing higher earnings.

The group, which operates National Commercial Bank Jamaica, Clarien Group, and Guardian Holdings across the Caribbean, said strong performance from its wholly owned Jamaican subsidiaries drove the improvement, partly offset by unrealised fair value losses in its equities portfolio.