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Wednesday, July 9, 2025

JMMB Group records net profit of J$1.93 billion

by

Business Desk
1422 days ago
20210816
JMMB office on Wrightson Road,Port-of-Spain.

JMMB office on Wrightson Road,Port-of-Spain.

Anisto Alves

The JMMB Group Ltd has record­ed a net prof­it of J$1.93 bil­lion–up 148 per cent and earn­ings per share of J$0.88 for the three months end­ed June 30, 2021.

The group al­so record­ed net op­er­at­ing rev­enue of J$6.86 bil­lion, up 37 per cent and net in­ter­est in­come of J$2.86 bil­lion, which was up 18 per cent.

Op­er­at­ing prof­it was J$1.90 bil­lion, al­so up 70 per cent.

JMMB not­ed that its lev­el of prof­itabil­i­ty was due in part to its 22.85 per cent stake in Sagi­cor Fi­nan­cial Cor­po­ra­tion (SFC) which con­tributed J$319 mil­lion for the quar­ter.

The group said it con­tin­ued on its growth tra­jec­to­ry even though its op­er­at­ing en­vi­ron­ment is still ad­verse­ly im­pact­ed by the pan­dem­ic.

It al­so added that it re­mained con­fi­dent in both the short and long-term val­ue of this ac­qui­si­tion as it aligns with its in­or­gan­ic growth strat­e­gy and will con­tin­ue to pos­i­tive­ly im­pact prof­itabil­i­ty and in turn, ac­crue ben­e­fits to share­hold­ers.

JMMB said it is al­so cog­nizant that af­ter the pan­dem­ic ends, there will be a “new nor­mal,” adding that it will con­tin­ue to build the in­fra­struc­ture re­quired to en­sure that it emerges even stronger.

As a con­se­quence, the group ex­plained it will con­tin­ue to fo­cus on its clients with their best in­ter­est at heart.

“Thus, we re­main com­mit­ted to con­tin­u­ous­ly evolve our fi­nan­cial so­lu­tions, process­es and ser­vices to en­sure that we con­tin­ue to pro­vide the ex­cep­tion­al client ex­pe­ri­ence that we are known for,” it added.

JMMB al­so not­ed that a key pil­lar of this en­hanced client ex­pe­ri­ence will be its dig­i­tal of­fer­ings to en­sure client part­ner­ship can be fa­cil­i­tat­ed in a seam­less, in­te­grat­ed and con­ve­nient man­ner.

How­ev­er, it said for the up­com­ing quar­ter, it ex­pects un­cer­tain­ty to per­sist in the fi­nan­cial space, es­pe­cial­ly as there are new COVID-19 vari­ants be­ing dis­cov­ered and vac­cine hes­i­tan­cy pre­vails.

Nev­er­the­less, JMMB as­sured that it will con­tin­ue to ex­e­cute its strate­gic im­per­a­tives to en­sure max­imised val­ue for share­hold­er.


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