JMMB News

Regional integrated financial services provider, The JMMB Group, recorded J$3.63 billion in net profit for the six-month period ending September 30. Additionally, the Group posted net operating revenue of J$ 12.39 billion, which is an 8% decline, compared to prior year. The falloff in the Group’s financial performance for the period is attributable to challenging macro-economic conditions. 

Caribbean Information and Credit Rating Services Limited (CariCRIS), in a statement issued last month (September), upgraded JMMB Group Limited’s corporate credit ratings to CariA- (Regional Local Currency) and CariBBB+ (Regional Foreign Currency) and jmAA- (Local Currency Rating) and jmA+ (Foreign Currency Rating) on the Jamaica national scale. The national scale ratings indicate ‘high creditworthiness’ of JMMB Group compared to other obligors in Jamaica. While, on the regional scale ratings, JMMB Group has been assigned a ‘good level of creditworthiness’ in relation to other obligors in the Caribbean.

“My greatest desire is not to make a lot of money for myself, but to have a clean heart and a pure spirit.” This statement sums up the mission of late corporate leader and co-founder of JMMB, Joan Duncan, who on October 17, was posthumously conferred with the nation’s fifth highest honour, Order of Jamaica (OJ), during the annual National Honours and Awards ceremony held at King’s House.

The JMMB Group Resource Centre partnered with the JMMB Joan Duncan Foundation to award J$1M to the top three small and medium-sized businesses that are a part of the two-year long Accelerator Programme, launched last September.