Nov 2014 Financial News

NCBJ - Industrial Disputes Tribunal Award to Clerical Employees

Nov 04, 2014

National Commercial Bank Jamaica Limited (NCBJ) has informed the Stock Exchange that further to their previous notice regarding the Industrial Disputes Tribunal award to clerical employees, the total gross provision required for the two year negotiating period (ending September 30th, 2014) as a consequence of the award, as compared to actual salaries and benefits prior to the award, was approximately J$1.7 billion. This exceeds by approximately J$430 million the amount that NCBJ had been providing for increased salaries and benefits for the negotiating period, and will be reflected in their income statement for the year ended September 30th, 2014.

Source:
The Trinidad and Tobago Stock Exchange Limited
Tuesday November 4, 2014