JMMB Bank Delivers J$1.04B Profit, Sustained Growth Anchored in Client-Centric Strategy
JMMB Bank (Jamaica) Limited, a subsidiary of the JMMB Group, has reported a net profit of J$1.04 billion for the financial year ended March 31, 2025, marking a significant increase over the J$277.75 million profit it had recorded in the prior year. This substantial improvement reflects the JMMB Bank’s continued focus on smart, capital-efficient growth and its unwavering commitment to delivering exceptional value to clients.
The Bank’s net operating revenue rose by 17.5% to J$9.38 billion, up from J$7.98 billion in 2024, while net interest income increased by 23.2% to J$7.75 billion, up from the $6.3 billion reported last year, driven by higher investment income and interest earned on loans.
Loan fee income grew by 74.8%, moving from J$125.42 million to J$219.25 million, and other fees and commissions rose by 22.7% to J$658.30 million, an increase from $536.59 million in the prior year. Meanwhile, impairment losses on financial instruments were significantly reduced by 55%, falling from J$1.77 billion to J$790.73 million.
The Bank’s loan portfolio has increased by 8.6%, moving to J$137.35 billion, up from $126.5 billion last year, while customer deposits increased by 13.8% to J$160.70 billion, an increase over the $141.2 billion in the prior year. This reflects continued client confidence and the success of the Bank’s financial solutions.
In commenting on the Bank’s financial performance, Jerome Smalling, CEO of JMMB Bank Jamaica, noted, “This year’s results reflect the disciplined execution of our strategy and the strength of our core banking operations. We achieved strong growth in both our loan and deposits portfolios, while maintaining tight control over credit quality and operational efficiency. We give God thanks for the continued success as these results are a testament to the hard work of our team and the trust our clients place in us.”
Expressing his satisfaction with the performance, Keith Duncan, CEO of JMMB Group, added, “We are extremely proud of the performance delivered by the JMMB Bank Jamaica team. Their dedication and client-first mindset have been instrumental in achieving these results. I also want to thank our clients for choosing us, as we continue to partner with them, in their best interest. As we look ahead, we remain focused on innovation, digital transformation, and delivering solutions across the entire JMMB Group to empower our clients to achieve their financial life goals.”
Strategic Outlook
JMMB Bank will continue to invest in digital banking solutions, including the full implementation of its Loan Management System and expanded online onboarding capabilities. The Bank remains committed to delivering value-added services, diversifying revenue streams, and supporting Jamaica’s economic growth through inclusive financial solutions.