Monday 28 September, 2020

Forbes values Lee Chin at US$1.5 billion

Michael Lee Chin

Michael Lee Chin

American business magazine, Forbes, currently values Michael Lee Chin’s net worth at US$1.5 billion.

Forbes stated that Jamaican business mogul’s most valuable asset remains a 65 per cent stake in National Commercial Bank Jamaica, the banking arm of the NCB Financial Group,

The NCB Group also includes NCB Capital Markets Limited, its subsidiaries in Barbados and Cayman, NCB Insurance Company Limited, NCB (Cayman) Limited; Clarien Group Limited and its subsidiaries in Bermuda; Guardian Holdings Limited and its subsidiaries; as well as NCB Global Finance Limited in Trinidad and Tobago.

Lee Chin owns in total around 53 per cent of the financial group through AIC (Barbados) Limited. The ultimate parent company is Portland Holdings Inc, which is incorporated in Canada and controlled by the billionaire Investor.

At the consolidation of Guardian Holdings Limited in 2019, NCB Group’s total assets grew to $580 billion.

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