THE Jamaica Money Market Brokers (JMMB) Group formally rebranded Capital and Credit Merchant Bank as JMMB Merchant Bank as part of the company’s wider integration efforts.
JMMB acquired the Capital and Credit Financial Group last year, putting the company in a better position to offer ranges of financial solutions within a single group of companies, said JMMB in a press release.The three bank branch locations in New Kingston, Ocho Rios and Montego Bay now have signage to reflect the name change.With the deal, JMMB delved into the restricted unit trust market with real estate, equity and fixed income trusts.The bank offers to its customers deposit and loan products as well as foreign exchange trading.JMMB aims to provide a new way of banking to Jamaicans, according to Jerome Smalling, chief executive officer, JMMB Merchant Bank. It is pursuing a commercial bank licence, and is also pushing to grow its loan portfolio.“As the third largest financial institution in Jamaica, the JMMB Group is perfectly poised to continue on its growth path and my vision is to see us expand our client base by capitalising on the reach provided by the acquisition of the Merchant Bank,” he said.The company wants to become a leading financial institution in the Caribbean.“In developing into an even stronger indigenous financial powerhouse in Jamaica and the Caribbean, we pledge to remain focused on what truly matters — the financial health and happiness of our clients,” said Keith Duncan, JMMB Group, CEO.“As a Group, JMMB allows clients to trade in the regional and local equities market — JMMB Securities, with the JMMB Insurance Brokers. The company offers health insurance.The company operates in the Dominican Republic, and Trinidad and Tobago, specifically through the Intercommercial Bank of Trinidad, a commercial bank, which allows it to further diversify our offerings to clients in the Eastern Caribbean.“Strategically, we are building an integrated financial services model with securities dealing, portfolio management, banking and insurance,” said Duncan. “In diversifying across services and the region we are reducing risk across the board.”The re-branded JMMB Merchant Bank on Grenada Way in New Kingston. (PHOTO: PAUL MULLINGS)View the original article here
Capital and Credit rebranded JMMB Merchant Bank
