Ja­maica Mon­ey Mar­ket Bro­kers has record­ed a net prof­it of J$2.42 bil­lion ($112 mil­lion) for the six months end­ed Sep­tem­ber 30, 2020.

This was a drop of J$380 mil­lion ($17.6 mil­lion) for the same pe­ri­od last year.

For the six month pe­ri­od end­ed Sep­tem­ber 30, 2019, JMMB record­ed a net prof­it of $2.8 bil­lion.

“JMMB has con­tin­ued to de­liv­er strong per­for­mance with­in the con­text of the COVID-19 pan­dem­ic. This sol­id per­for­mance is rough­ly in keep­ing with pre-COVID re­sults of the com­pa­ra­ble six-month end pe­ri­od in 2019, and demon­strates the Group’s re­silience and the ef­fec­tive ex­e­cu­tion of our COVID- 19 re­sponse strat­e­gy,” a mes­sage from the group’s chief ex­ec­u­tive of­fi­cer Kei­th Dun­can stat­ed.

“The Group’s strate­gic re­sponse to COVID-19 ini­tial­ly cen­tred on pro­tect­ing our clients and en­sur­ing the sus­tain­abil­i­ty of the JMMB Group dur­ing and post the pan­dem­ic,” he stat­ed.

Dun­can stat­ed that all three coun­tries of op­er­a­tion - Ja­maica, Trinidad and To­ba­go and the Do­mini­can Re­pub­lic, im­me­di­ate­ly im­ple­ment­ed a plan to man­age po­ten­tial short and medi­um term shocks to the Group’s client base, op­er­a­tions, cap­i­tal, liq­uid­i­ty and ex­pens­es.

“The Group al­so re­mained fo­cus on pur­su­ing growth op­por­tu­ni­ties dur­ing the pan­dem­ic as well as em­bed­ding ef­fi­cien­cy gains from the use of dig­i­tal chan­nels. This fo­cus yield­ed pos­i­tive re­sults as the JMMB team across all three coun­tries ef­fec­tive­ly ex­e­cut­ed our fi­nan­cial part­ner­ship strat­e­gy; deep­en­ing re­la­tion­ships with our ex­ist­ing clients and on board­ing new clients dur­ing the pe­ri­od,” Dun­can stat­ed.