JMMB opens its South Park branch

In his speech for the opening of JMMB’s newest branch as the latest addition to the SouthPark Shopping Centre on Monday evening, Carter said, “We are clear that the recent election results in the United States will have a significant future impact on the world. One of the nearer term impacts, we anticipate, points to a scenario of a potentially greater and faster upward movement in the US interest rates than previously thought. Such a rise will put pressure on local interest rates, making it challenging from a monetary policy perspective, as local rates will need to rise, so as to maintain an adequate differential with US interest rates.” Carter expressed hope in the economy despite the challenge.

“I think that many times when we look at ourselves, we say we have all the problems, and we have lots of political conversations and we say well, ‘it is time to run for the hills’. But I think when we look at what is going on and what has been going on around us internationally, certainly I get a lot of sobering comfort.” Speaking on behalf of JMMB, Carter said, “We remain committed, we believe Trinidad has tremendous opportunity, we believe Trinidad has tremendous unused and untapped capital, both TT dollars and US dollars that can be tapped and approached in a well structured way for viable new investment opportunities.

We have a tremendous, highly educated work force...that is a tremendous advantage, and in our environment it is about looking at where our strengths are and tapping into them and maximising them.” The SouthPark branch is essentially a move from the bank’s previous Marabella location under its old banner as Intercommercial Bank Limited (IBL). JMMB bought 100 percent ownership of ILB in 2013, and finally changed its name to JMMB in May of this year.

JMMB Group of companies serves customers in Jamaica, Trinidad and Tobago, and the Dominican Republic and has managed to increase profits over the last year. The company’s unaudited financial statements for the six month period ending September 30, 2016 show a net profit of US$16.13 million, a 68 percent increase from the same period of the previous year, and revenue earned from its locations in Trinidad and Tobago increased by 17 percent for the same period.

JMMB’s SouthPark branch occupies a prime corner in the shopping centre as its two floors and bright red logo are clearly visible to drivers entering San Fernando off of the Solomon Hochoy Highway.

Managing Director and CEO of JMMB Bank, Nigel Romany, said the bank’s promise is “to make every client interaction easy, enjoyable and empowering.” This they have ensured by placing a cosy caf? corner with a steady supply of coffee and literature for customers to enjoy while they wait to be served.