JMMB Group Delivers Resilient Performance with J$3.74B Profit, Amid Market Volatility
JMMB Group Limited (JMMBGL) has reported a net profit of J$3.74 billion, and earnings per share of J$1.80, for the financial year ended March 31, 2025. The results reflect the Group’s resilience and strategic agility in navigating a challenging global economic environment.
Despite market headwinds, JMMBGL delivered strong core revenue growth, with total operating revenue increasing by 6% to J$25.22 billion, up from J$23.88 billion in the prior year. Net interest income rose to J$11.31 billion, compared to J$10.75 billion in 2024, supported by a more efficient funding mix and continued growth in the Group’s loan portfolio. Total assets grew to J$705.46 billion, a 4% increase year-over-year, while customer deposits climbed to J$226.32 billion, reflecting a 13% rise and continued client confidence in the Group’s offerings.
The Group’s loan and notes receivable portfolio expanded by 9% to J$217.24 billion, up from J$198.94 billion in the prior year, underscoring the strength of its banking operations. Shareholders’ equity also saw modest growth, increasing to J$55.64 billion from J$54.67 billion. Off-balance sheet funds under management rose to J$214.43 billion, up from J$205.94 billion, as clients continued to entrust JMMB with their long-term investment goals.
Strategic Investments and Regional Growth
JMMB’s strategic investment in Sagicor Financial Company (SFC) continued to deliver value, contributing J$2.84billion in share of profit for the year. Regionally, the Group maintained strong performance across its core markets in Jamaica, Trinidad and Tobago, and the Dominican Republic, with growth in banking and investment services playing a key role in sustaining revenue momentum.
In commenting on the Group’s financial performance, Patrick Ellis, JMMB Group CFO, noted, “This year’s performance reflects the strength of our diversified business model and our disciplined approach to risk and cost management. Despite the impact of higher credit impairment charges and market volatility, we delivered solid core revenue growth and continued to build a strong foundation for future performance.”
Expressing his satisfaction and continued optimism, JMMB Group CEO, Keith Duncan, JMMB Group CEO, indicated that, “We are proud of the resilience and commitment demonstrated by our team across the region. I want to thank our shareholders for their continued confidence, and our clients for choosing JMMB as their trusted financial partner. These results reflect our unwavering focus on delivering long-term value, even in the face of economic headwinds. As we look ahead, we remain optimistic about the future and committed to leveraging innovation, digital transformation, and strategic partnerships to drive sustainable growth.”
Looking Ahead
JMMB Group remains focused on enhancing operational efficiency, expanding its digital capabilities, and deepening client relationships across its markets. With a strong capital base, growing client confidence, and a clear strategic roadmap, the Group is well-positioned to navigate the evolving financial landscape and seize new opportunities.