The JMMB Group is reporting net profit of $2.1 billion for the three months ended June 30, despite continued global economic uncertainty.
The group recorded net operating revenue of $7.68 billion, driven by growth in its core revenues, particularly net interest income, along with strong contributions from its strategic investments in Sagicor Financial Company.
Net interest income increased by 20 per cent to $4.21 billion while income from fees and commissions rose by nine per cent to $1.54 billion.
Foreign exchange trading revenue also surged to $801 million, highlighting the strength of the group's diversified business model.
However, overall revenue growth was moderated by lower earnings from securities trading.
The banking and related services division was the largest contributor, generating $5.2 billion in revenue, while the financial services and related services division contributed $2.44 billion dollars.
comments powered by Disqus
All feeds
