The JMMB Group Lim­it­ed has re­port­ed net prof­it of J$2.08 bil­lion or US$13.16 mil­lion for the three months end­ed June 30, 2026.

Group chief ex­ec­u­tive of­fi­cer Kei­th P Dun­can said the group de­liv­ered re­silient rev­enue per­for­mance, with op­er­at­ing rev­enues in­creas­ing by 3 per cent year-over-year to J$7.7 bil­lion for the pe­ri­od, de­spite glob­al un­cer­tain­ty and chal­leng­ing mar­ket con­di­tions.

He said, “Rev­enue growth dur­ing the quar­ter was un­der­pinned by con­tin­ued strength in the group’s core rev­enue streams, par­tic­u­lar­ly net in­ter­est in­come and fees and com­mis­sions. In­ter­est in­come in­creased 7 per cent year-over-year to J$11.5 bil­lion, while in­ter­est ex­pense re­mained broad­ly flat, re­flect­ing the Group’s con­tin­ued fo­cus on ac­tive­ly man­ag­ing fund­ing costs and op­ti­mis­ing its fund­ing mix. This dis­ci­plined ap­proach re­sult­ed in net in­ter­est in­come in­creas­ing by 20 per cent or J$695 mil­lion year-over year, end­ing the pe­ri­od at J$4.2 bil­lion.”

The JMMB CEO not­ed the group was im­pact­ed by the as­set tax levy in­tro­duced in last year’s bud­get by Fi­nance Min­is­ter Dave Tan­coo.

“Group op­er­at­ing ex­pens­es in­creased 10 per cent, or J$702 mil­lion year-over year to J$7.7 bil­lion dur­ing the quar­ter. This in­crease re­flects a com­bi­na­tion of planned strate­gic in­vest­ments and tim­ing-re­lat­ed fac­tors. The in­crease was pri­mar­i­ly dri­ven by the an­nu­al salary ad­just­ment, high­er tech­nol­o­gy and reg­u­la­to­ry costs, im­pair­ment loss­es and oth­er one-off ex­pens­es,” said Dun­can, “Ex­pens­es al­so re­flect­ed the full recog­ni­tion of as­set tax in the first quar­ter, in­clud­ing the con­tri­bu­tion from Trinidad and To­ba­go, where as­set tax has been ap­plic­a­ble since Jan­u­ary 2026.”

De­spite this, the re­port stat­ed the bank­ing busi­ness line con­tin­ues to per­form cred­itably, con­tribut­ing 67.8 per cent or J$5.2 bil­lion to the group’s op­er­at­ing rev­enues for the three-month pe­ri­od, a sig­nif­i­cant in­crease of 13 per cent year-over-year, up from a con­tri­bu­tion of 61 per cent in the pri­or year. This per­for­mance he said was dri­ven by growth in the loan and de­posit port­fo­lios and im­proved man­age­ment of the cost of funds.

Dun­can, how­ev­er, stat­ed that the group’s in­vest­ment in Sagi­cor Fi­nan­cial Com­pa­ny (SFC) had been a key con­trib­u­tor to over­all group per­for­mance. He said, “JMMB’s share of prof­it from SFC, net of fi­nance costs, amount­ed to J$2.9 bil­lion for the three months end­ed June 30, 2026.”