Last update: 04-Dec-2013 12:33 pm
Wednesday, December 04, 2013
Trinidad & Tobago Guardian Online
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JMMB poised for regional growth
KINGSTON—The JMMB Group is poised and ready to capitalise on all opportunities in its markets regionally, a message which was shared with shareholders at the company’s AGM on September 18 at the Jamaica Pegasus Hotel. The theme of the AGM, The Power of One, was brought to life through a registration process where attendees were handed a ‘passport’, for a simulated island-hopping experience through T&T, the Dominican Republic and Jamaica—countries where JMMB currently has operations. Group CEO Keith Duncan gave results from each country which showed that the group continues to deliver strong financial performance, despite the challenging economic times.
Among the key discussions were the recent acquisition of the IBL Bank in T&T; the outstanding performance being experienced in the Dominican Republic; and the over-subscription of the 2013 preference share offer in Jamaica, as JMMB outlined details of plans for continued growth and contributions to the local and regional financial landscapes. For T&T, JMMB is seeking to grow market share by building out JMMB TT Investments which began operations in March with its own portfolio. In addition JMMB is looking forward to acquiring 100 per cent ownership of the Intercommercial Bank and Intercommercial Trust & Merchant Bank (the IBL Group), which will see JMMB having its very first commercial bank. Additionally, IBL’s retail presence in T&T, was boosted with the opening of the Tunapuna branch in March this year. The Group CEO expressed optimism in his outlook for all markets.
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