NCB launches $300 Million Disaster Relief Fund
05 Jul 2024
Kingston, Jamaica – July 5, 2024 – National Commercial Bank Jamaica Limited (NCBJ), through its philanthropic arm, N.C.B. Foundation, announces the launch of a $300M Disaster Relief Fund to support those affected by Hurricane Beryl, the category 4 system which ravaged several parts of the island on July 3, 2024.
The Foundation, working with other approved charitable organisations, will provide support to individuals and communities impacted by the hurricane. This will primarily assist with the restoration of homes and farmers’ crops in more severely damaged parishes such as St Elizabeth, Hanover and Manchester.
CEO of N.C.B. Foundation, Sheree Martin explained, “The Fund will be established with an initial pledge of $20 million from NCB. We will also solicit corporate and individual contributions for this vital cause. All donations received will be matched by NCB up to a maximum of $150 million.”
"We are deeply concerned for our fellow Jamaicans who have suffered emotional and financial loss due to this hurricane. This Fund is an opportunity to provide a total of $300 million to help restore normalcy to their lives and communities," said Chairman of NCB Financial Group Limited (NCBFG), the Honourable Michael Lee-Chin. “I therefore call on our customers, other corporate entities, the general public and the diaspora to support this initiative so that we can double your donation – for every dollar you give, NCB will match it.”
Donations may be made via online transfers for the period July 5 to 31, 2024 to the following accounts in the name of NCB Building a Better Jamaica Fund:
- JMD – NCB Mandeville Branch - 501556815
- USD – NCB 1-7 Knutsford Blvd Branch - 354658984
Further information about the Fund and the partnerships established to administer and distribute relief aid will be made in the days ahead.
More than two decades ago, NCB responded to a similar crisis by partnering with United Way of Jamaica to provide over $23M in relief to some 1,400 households, including farmers who lost thousands of crops due to severe flooding. This followed eleven days of continuous rain, which resulted in extensive flooding island-wide and the loss of nine lives.
About National Commercial Bank Jamaica Limited
National Commercial Bank Jamaica Limited (NCB) is Jamaica's largest indigenous bank. With 20+ digital and full-service branches across the island, and the largest ABM fleet of 300+ machines, NCB is known as ‘the People’s Bank’ – serving Jamaicans from all walks of life. With roots dating back to 1837, NCB has since grown into a financial powerhouse across the region through its subsidiaries, NCB Capital Markets Limited (NCBCM) and NCB Insurance Agency and Fund Managers Limited (NCBIA). Designated as a Systemically Important Financial Institution (SIFI), NCB safeguards against economic instability by upholding rigorous operational protocols, surpassing regulatory benchmarks and international standards.
For further information, visit www.jncb.com
