August 17, 2026
JMMB Group Limited (JMMBGL)
Unaudited financials for the three months ended June 30, 2026:
JMMB Group Limited (JMMBGL) for the first quarter ended June 30, 2026, reported a 7% increase in Interest income totalling $11.48 billion compared to $10.77 billion for the comparable quarter of 2025, driven by healthy expansion in the loan and investment portfolios.
Interest expense was flat at $7.27 billion (2025: $7.25 billion), reflecting the successful optimisation of the Group’s funding mix and disciplined management of funding costs notwithstanding growth in deposits, repurchase agreements and other funding liabilities. Consequently, Net Interest Income advanced 20% to $4.21 billion compared with $3.51 billion booked for the three months ended June 30, 2025.
Fees and commissions income rose 9% to $1.54 billion (2025: $1.41 billion), reflecting continued momentum in client activity, while Foreign exchange margins from cambio trading increased 47% to $800.96 million (2025: $546.36 million) on higher trading volumes and active management of currency positions. These were partly offset by a 44% decline in Gain on securities trading, net to $1.07 billion (2025: $1.90 billion), as less favourable conditions across regional and international markets limited trading opportunities, and a 45% reduction in Dividends to $61.95 million (2025: $113.60 million).
Consequently, Operating Revenue Net of Interest Expense for the quarter increased 3% to $7.68 billion compared with $7.49 billion for the corresponding quarter of 2025.
Operating expenses for the quarter amounted to $7.65 billion, a 10% increase relative to $6.95 billion reported in 2025. The increase reflected the annual salary adjustment, higher technology and regulatory costs, impairment losses and other one-off expenses, together with the full recognition of asset tax in the first quarter including the contribution from Trinidad and Tobago, where asset tax has been applicable since January 2026.
As a result, operating profit before other items amounted to $30.49 million, a 94% decline relative to $542.66 million reported in 2025. After Other income of $178.95 million (2025: $5.14 million) and no gain on sale of capital assets (2025: $4.24 million), the Group booked $209.45 million relative to $552.04 million in the prior year quarter.
Impairment loss on financial assets increased 27% to $504.61 million (2025: $398.09 million), while Finance cost declined 15% to $376.62 million (2025: $444.33 million). Share of profit of associates swung to $3.34 billion relative to a loss of $290.27 million in the corresponding quarter of 2025, driven primarily by the Group’s 24.5% interest in Sagicor Financial Company Limited, from which the share of profit net of finance costs amounted to $2.9 billion.
Consequently, profit before Taxation totalled $2.67 billion relative to a loss before taxation of $580.64 million for the three months ended June 30, 2025.
Taxation for the quarter amounted to $590.33 million, a 458% increase relative to $105.76 million reported in 2025. As such, Profit for the Period closed at $2.08 billion versus a Loss of $686.40 million in the prior year quarter.
Profit Attributable to Equity Holders of the Parent for the quarter amounted to $1.99 billion relative to a loss attributable of $765.26 million reported in 2025, while income attributable to non-controlling interests rose 7% to $84.27 million (2025: $78.87 million).
Consequently, Earnings Per Share for the quarter amounted to $1.02 (2025: LPS: $0.39). The twelve-month trailing EPS was $2.20, and the number of shares used in these calculations was 1,955,552,532.
Notably, JMMBGL’s stock price closed the trading period on August 17, 2026, at a price of $14.51 with a corresponding P/E ratio of 6.59x.
Balance Sheet Highlights
The Group’s assets totalled $783.49 billion (2025: $727.49 billion), an increase of 8% or $56.00 billion, and 3% above the $761.55 billion reported at March 31, 2026. Notably, Loans and notes receivable led the growth in total assets with an increase of $26.10 billion or 12% to close at $245.95 billion, with the quality of the loan portfolio remaining strong and comparable to international standards. Investments and resale agreements advanced $23.55 billion or 7% to $365.79 billion, Cash and cash equivalents rose $5.97 billion or 10% to $64.38 billion, Interest in associated companies increased $1.29 billion to $49.71 billion, Deferred income tax assets grew $1.06 billion to $22.86 billion, and Investment properties advanced $428.50 million to $4.11 billion.
These increases were partly offset by a $1.42 billion or 9% reduction in Other receivables to $14.31 billion, an $834.47 million or 10% decline in Property, plant and equipment and intangible assets to $7.19 billion, and a $446.19 million reduction in Interest receivable to $7.16 billion.
Shareholder’s equity attributable to equity holders was $60.82 billion (2025: $57.86 billion), an increase of 5%, representing a book value per share of $31.10 (2025: $29.59).
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