PERFORMANCE HIGHLIGHTS
Nine Months ended June 2008 compared with Nine Months ended June 2007

Net Profit of $6,757 million, grew by 38%.	Earnings per Stock Unit of $2.74 increased by $0.76.
Operating Revenue of $18,117 million, a 18% increase.	Cost to Income Ratio of 51.0% vs. 58.3%.
Risk-Based Capital Ratio of 14.13% vs. 15.29%.	Net Loans of $71.1 billion, grew by 35%.
Investment Securities of $150.9 billion, grew by 4%.	Customer Deposits of $119.2 billion, an increase of 9%.
Return on Average Equity of 29.54% vs. 24.85%.	Return on Average Assets of 3.37% vs. 2.79%.

The results for the period include a one-off gain of $517 million. Excluding this gain, the growth in Net Profit over June 2007 was 28%, and the Cost to Income Ratio was 52.5%.

Third Quarter 2007/2008 compared with Third Quarter 2006/2007

• Net Profit of $2,251 million, grew by 28%.
• Earnings per Stock Unit of $0.91 (vs. $0.72).
• Operating Revenue up 17%.

Third Quarter 2007/2008 compared with Second Quarter 2007/2008

• Net Profit fell by 15%. Excluding the one-off gain of $517 million that was earned in the second quarter, the growth in Net Profit was 6%.
• Earnings per Stock Unit of $0.91 (vs. $1.07).
• Operating Revenue down 3%. Excluding the one-off gain, the growth in Operating Revenue was 5%.

The main contributors to these results are:

NET PROFIT	Qrtr. Ended June 2008 $J'M	9 Mths. Ended June 2008 $J'M	9 Mths. Ended June. 2007 $J'M
National Commercial Bank Jamaica Limited	1,494	4,604	3,148
NCB Capital Markets Limited	336	1,357	1,234
NCB Insurance Company Limited	207	435	303

SEGMENT RESULTS

A summary of the financial performance of the main revenue segments is highlighted below:

 Banking
We continue to focus on our loan growth and these efforts have resulted in loan growth of $18.4 billion over the June 2007 period and our net loans to total assets ratio has grown from 21.61% at June 2007 to 25.40% at June 2008. Based on the latest commercial banking industry information from the Bank of Jamaica, NCB recorded an increase in net loans of 28.5% when compared to the prior year, exceeding the total industry growth of 19.0%.

Loans and advances totalled $71.1 billion (net of provision for credit losses) as at 30 June 2008 compared to $52.7 billion as at 30 June 2007. The aggregate amount of non-performing loans was $1.7 billion and represented 2.34% of the gross loans compared to 2.92% as at 30 June 2007. NCB Jamaica Limited remains the largest commercial bank when measured by assets and branch network, and we believe these advantages provide significant opportunities for strong growth. Excluding the Visa restructuring gain, operating revenues for the Bank increased by 20% over last year as a result of:

• net fee & commission income growing by 20% (volume-driven),
• interest income from securities growing by 14%,
• interest income from loans increasing by 25% due to the growth in the loan portfolio.

Wealth Management
Our wealth and asset management arm contributed operating profits of $1,742 million for the nine months ended June 2008. This 5% improvement in operating profits over the prior year is mainly attributable to a 4% increase in net interest income and a 52% growth in net fee and commission income.

NCB Capital Markets Limited (NCBCM) was the leading brokerage house for the quarter, having been the broker with the highest traded value for the three months ending June 2008. NCBCM was the lead broker for the Jamaica Stock Exchange's milestone Preference Share Offering. The Carlton Savannah REIT, although undersubscribed, represents the first Real Estate Investment Trust listing on the Jamaica Stock Exchange and we are proud to have been associated with such an issue, and we view this REIT as an introduction of the market to this product. We continue to differentiate ourselves in this segment with innovative products to meet the diverse needs of our customers.

Insurance
Our insurance segment contributed operating profits of $488 million for the nine months ended June 2008, representing an increase of 16% over the prior year. With the recent restructuring of NCBIC and the strategic alignment of that business with our Wealth Management unit, we have seen improvement in this segment's results. The profit for the quarter of $207 million is bettered only by a profit of $216 million that was reported in the June 2006 quarter. We look forward to continued improvement in the performance of this unit, as highlighted by the performance in this quarter.

Overall, our segment results reflect the careful and strategic management of customer relationships and needs, expert management of interest rate spreads and proactive and effective management of our costs.

The pursuit of our strategic objectives is underpinned by three pillars:

Innovation
We introduced an online application system for our personal credit card and loan products, another first in Jamaica by NCB. This initiative supports our objectives of operational efficiency and exceeding our customers' expectations.

Expertise
In addition to our continuous training programmes, we provided our staff with home access to our e-Campus learning facility which comprises a wide range of periodicals and learning material.

Strength,
Stockholders' equity increased by $4.6 billion or 17% when compared to 30 June 2007 and total assets grew by $36.0 billion or 15% when compared to the corresponding period of the prior year.

DIVIDENDS
On 24 July 2008, the Board declared an interim dividend of $0.30 per ordinary stock unit. The dividend is payable on 27 August 2008 for stockholders on record as at 14 August 2008. As at 30 June 2008, National Commercial Bank Jamaica Limited had thirty four thousand eight hundred and twenty eight shareholders.

COMMUNITY RELATIONS
For the quarter ended 30 June 2008, mainly through our philanthropic arm, NCB Foundation, we contributed $33.35 million to a number of educational, sporting, health, community development and entrepreneurship projects throughout the island.

EDUCATION
During the third quarter we focused most of our resources on the development of infrastructure and technology in primary, secondary and tertiary institutions, as follows:

• St. Teckle Haimanot Basic School was assisted through a collaboration with the United Negro Improvement Association (UNIA) with the construction of kitchen and bathroom facilities, a nursing station and a resource centre for the school's reading programme.
• Titchfield High School received computers and furniture for its library.
• St. Vincent Strambi Catholic High School received a donation to build and equip an Information Technology Laboratory.
• The NCB Foundation has committed to contributing to the Community Intervention in Basic Schools Project (CIBS) which is designed to identify children who may be susceptible to learning and behavioural problems at the basic school level.

SPORTS
We assisted the Jamaica Olympic Association in funding the cost of our athletes participating in the upcoming Olympic Games in Beijing.

ENTREPRENEURSHIP
We contributed or made commitments to the following:

• Jamaica Employers' Federation's Ready for Work & Business Handbook dissemination project.
• Trinityville Skills Training Centre
• The Holy Trinity Cathedral Restoration Project

The NCB Group also launched The Nation Builders Awards, which is a programme designed to promote and recognize entrepreneurship as well as involvement in community development.

COMMUNITY DEVELOPMENT
We continued to fortify our ties with local service clubs, churches, lobby groups and charities by supporting their fundraising efforts to help carry out various community projects and we sponsored the CRIME STOP's Cause Marketing Programme.

We express heartfelt thanks to our employees for the indelible impact they make on this nation every day, through their commitment to excellence through service and philanthropy and we are equally thankful to our customers for their loyalty and fervent support year after year, in their effort to uplift the communities in which they serve and build a better Jamaica.