JMMB opens newest branch in Princes Town

THE Jamaica Money Market Brokers Ltd (JMMB) has opened its newest branch in the heart of Princes Town, and CEO Shawn Moses boasted about the bank’s strong performance over the past few years in Trinidad and Tobago.

The branch is at Princes Town Mall on High Street, a stone’s throw from the police station.

Moses, who spoke at the opening ceremony on August 29, recalled that the organisation started with one branch in Chaguanas, then at Marabella, Port of Spain and Tunapuna. The Marabella branch relocated to South Park in Tarouba, where it remains.

Specific to JMMB Bank Trinidad and Tobago, he said from its journey in 2013, the bank contributed less than five per cent to its regional group’s consolidated operating revenue.

Moses got a round of applause when he added, “By the end of fiscal 2024, that is March 2024, Trinidad and Tobago’s contribution to the JMMB Group had grown to 15 per cent. I am proud to mention that JMMB Bank recorded its best-ever financial performance during fiscal 2024. It is the highest net profit in the organisation’s history.

“Our balance sheet remains robust, with total assets in excess of $3.2 billion, and our capital remains well above the regulatory requirements. So, the JMMB Bank and the overall JMMB Group is on a very solid foundation with a bright and exciting future ahead.”

In line with the entrepreneurial spirit with the people of Princes Town, Moses said this branch is the first sales agency at JMMB Trinidad and Tobago, serving this community with convenience and a modern approach that leverages technology and digital solutions in serving its clients.

He added it encompasses facilities such as two smart ATMs for all cash transactions.

There is also a night safe for business deposits, a digital zone to aid in new account openings and debit cards for people and businesses.

Vera Joseph, a resident, will lead the agency.

Moses said JMMB had been part of the banking industry in Trinidad and Tobago since 2005, when it acquired its initial state in the then Intercommercial Bank. In 2013, JMMB acquired the full 100 per cent shareholding, marking the beginning of its fully owned journey in Trinidad and Tobago.

“In the last decade, we have also launched our JMMB Investments Trinidad and Tobago, which provides a wide variety of investment solutions for clients. We also launched our JMMB Express Finance, better known as JEF, which offers consumer finance solutions,” Moses said.

“We take immense pride in the growth of the JMMB Trinidad Group over the last decade and are pleased to be an integral part of Trinidad and Tobago’s financial landscape.”

Moses said the next location will be in Tobago as the bank continues to grow.

High Commissioner of Jamaican to Trinidad and Tobago Natalie Campbell-Rodriques gave remarks saying she is a JMMB customer. She also encouraged people to become customers because it delivers and the bank has never disappointed her.

She said the bank comprises beautiful staff members who know what they are doing at all times.

Campbell-Rodriques said she hopes the staff members of the latest branch carry on the tradition and thanked JMMB for taking yet another step in the right direction

“I expect nothing less from this branch,” she said.

CEO of JMMB Express Finance, Elson James, Princes Town MP Barry Padarath and chairman of the Princes Town Regional Corporation Gowrie Roopnarine also attended.

JMMB Group Trinidad and Tobago chairwoman Lorraine Kam said on behalf of the bank’s board of directors, she was delighted to welcome the gathering to celebrate the expansion.

She recalled that just over a decade ago, the JMMB began its journey to bring financial services with a foundation of love, highlighting that the organisation is grounded in unconditional love and mutual respect.

“This new branch symbolises a physical expansion but also our unwavering commitment to providing exceptional services to our clients, supporting our team members and contributing positively to this community,” Kam said.

She added, “JMMB is excited to bring technological advances and innovative financial solutions to Princes Town.”