JMMB Group Posts $4.06B Q2 Profit, Driven by Strong Core Performance; Diversified Business Model

JMMB Group Limited delivered a strong performance for the quarter ended September 30, 2025, posting a net profit of J$4.06 billion, building on the positive momentum from Q1 and reinforcing the strength of its core operations. The result was driven by the disciplined execution of the Group’s Smart Growth Strategy, which continues to strengthen core performance. The result was further bolstered by Sagicor Financial Company earnings, net of funding costs, amounting to J$2.8 billion, underscoring the resilience of the Group’s diversified business model.

Over the six-month period, net operating revenue expanded by 34% year-over-year to J$15.2 billion, while net interest income rose 40% to J$7.44 billion, driven by improved spreads and cost of funds management. Gains on securities trading grew by 43%, and FX trading improved by 23%, contributing to an operating profit of J$2.3 billion year-to-date, compared to a loss in the prior year. The strong core revenue performance demonstrates that the Group’s strategy – anchored on resilient revenue growth, improving efficiency and productivity, and maintaining adequate capital and liquidity buffers – is yielding tangible results.

In addition to the rebound in core operations, the Group benefited from its strategic investment in Sagicor Financial Company (SFC). Sagicor’s earnings net of funding costs amounted to J$2.8 billion for the quarter and J$2.1 billion year-to-date. This contribution reflects both the underlying strength of Sagicor’s business and the value of JMMB’s diversified portfolio approach, which continues to position the Group for sustainable growth.

In terms of country contributions, Jamaica remained the largest contributor to the Group’s performance, accounting for 53.7% of Gross Revenue, driven by strong banking results and opportunistic bond trading gains. The Dominican Republic contributed 20.9%, Trinidad and Tobago 15.6%, and Barbados 9.8%. These results highlight the effectiveness of the Group’s regional diversification strategy, even as some markets faced higher expenses.

Commenting on the Group’s financial performance, Patrick Ellis, JMMB Group CFO, stated, “This quarter’s results reflect the disciplined execution of our Smart Growth Strategy and the

resilience of our core operations. We leveraged strategic opportunities across markets, while maintaining strong risk and cost management. These results position us to continue delivering sustainable value to our stakeholders.”

Keith Duncan, CEO of the JMMB Group, added, “I am deeply proud of the commitment and agility demonstrated by our team across the region, whose efforts have enabled us to deliver exceptional results this quarter. To our shareholders, thank you for your confidence, and to our clients, we are grateful that you continue to choose JMMB as your trusted financial partner. These results affirm our strategic direction, and we remain optimistic about the future as we build a stronger, more resilient financial services Group.”

Looking Ahead 

The JMMB Group remains committed to supporting communities impacted by Hurricane Melissa and advancing its client protection strategy to safeguard financial well-being. In line with its core values, the Group mobilized J$25 million in relief efforts and will continue to assist clients most affected by the hurricane, while maintaining focus on resilience and recovery.

Despite heightened global and domestic uncertainty—including inflationary pressures, interest rate shifts, and geopolitical risks—the Group is confident in its ability to adapt. With strong capital buffers, disciplined risk management, and ongoing investment in digital transformation and operational efficiency, JMMB is well-positioned to deliver sustainable value and seize growth opportunities across its regional markets.