JMMB earns J$8.82 billion in profits over 9 months

JMMB Group Ltd net profits skyrocketed by 119 per cent to J$8.82 billion for the nine-month period ending December 31, according to its unaudited financial results, released on Monday.

The results indicated that JMMB’s Net operating revenue went up by 33 per cent to J$21.98 billion, its net interest income went up 18 per cent to J$8.98 billion and its operating profit went up 55 per cent to J$7.98 billion.

In 2020 for the same nine-month period the group’s net profits stood at J$4.02 billion, its net operating revenue was J$16.5 billion, net interest income was J$7.58 billion and its operating profit was at J$5.14 billion.

Group CEO Keith Duncan said the growth in the face of lingering uncertainty because of the pandemic was a testament to the group’s maintained focus on growing core revenue, diversification and building out digital services, solutions and channels to improve client experience and efficiency.

Duncan said the group will continue focusing on growth as they intend the close off the financial year.

“Our Regional Integrated Financial Services business model build out also continues in earnest and we expect to close the year strong maximising value for all our stakeholders.”