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NCB Financial Group increase loans and advances in financial year

There was a 70 per cent increase in loans and advances issued by the NCB Financial Group during its just ended 2018 financial year.
 
They totalled $372.-6 billion an increase of  $154 billion over the prior year. 
 
NCB says the consolidation of  Bermuda's Clarien Bank, of  which it has a 50.1 percent stake, pushed up the portfolio by more than $700 million . 
 
In addition, credit card receivables increased by 14 per cent and the financial conglomerate's Cayman portfolio grew by 67 per cent. 
 
On the other hand, non-performing loans totalled $18.2 billion   as at September 30 and represented 4.8 per cent of  gross loans compared to 2.5 per cent as at September 30 last year.
 
NCB says the increase was due to the inclusion of  Clarien which has a non-performing loan ratio of  11.8 per cent


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