AS various commercial banks revise their fee schedule, the Jamaica Observer has assembled the fees charged by each alongside their earnings from fees charged to clients.

Commercial banks are generally defined by the Bank of Jamaica (BOJ) as deposit-taking institutions which can offer chequing/current account services while merchant banks cannot offer accounts that are repayable on demand or under 14 days’ notice by cheque, draft or order drawn on the merchant bank. There are currently eight licensed commercial banks in Jamaica with JMMB Bank being the latest to join the space after transitioning from being a merchant bank in August 2017 and being issued a commercial banking licence by the BOJ.

The fees and commissions earned by the different commercial banks include:

National Commercial Bank Jamaica (NCBJ) – $18.36 billion earned for its financial year (FY) ending September 30, 2021. Total assets of $756.54 billion as at September 2021.

Bank of Nova Scotia Jamaica Limited (BNS) — $13.32 billion earned for its FY ending October 31, 2021. Total assets of $478.11 billion as at September 2021.

Jamaica National Bank Limited (JN Bank) — $1.34 billion earned for its FY ending March 31, 2021. Total assets of $230.51 million as at September 2021.

https://www.jamaicaobserver.com/business-observer/bank-fees-across-jamaica_242865