00:00Geographically south and considered very rural by some, Princestown was selected by JMMB Trinidad
00:20as the location for its newest branch as the bank continues to expand operations locally.
00:26On Thursday, Princestown MP Barry Podarath said it was a welcomed initiative that he
00:32believes could potentially boost both the people and communities in the area against
00:38the backdrop of a declining economy.
00:40You are coming in at a time in Princestown to service these areas where you have to understand
00:47the capacity of those that will be participating and engaging your services.
00:56And you are coming in at a time when unemployment is high, when persons are looking for business
01:04opportunity through small loans, through commerce and finance, and these are the challenges
01:10that you will face, particularly with a very frustrated population.
01:15The JMMB Group's country CEO Sean Moses boasted of the bank's growth in its decade in Trinidad.
01:23At the start of this fully owned JMMB journey in 2013, JMMB Trinidad would have contributed
01:29less than 5% of our regional group's consolidated operating revenue, less than 5%.
01:38By the end of fiscal 2024, so that's March 2024, Trinidad, Trinidad's contribution to
01:44the group would have grown to 15%.
01:47He says while they look forward to engaging the communities of Princestown and Environs,
01:53they are already working on the bank's next location.
01:57I'm excited to announce our next location, next location already, right, that's been
02:03mindful of the economy and the challenges, but we are growing as an organization, I mentioned
02:07the performance.
02:08Our next location will be in the sister isle of Tobago.
02:12Also attending the event, the High Commissioner to Jamaica said this expansion of JMMB is
02:18just the latest example of a thriving relationship both countries continue to share.
02:25Quite often in Jamaica, my children who grew up thinking that some of the products in our
02:30supermarkets in Jamaica were actually Jamaican, chubby, bigfoot, you couldn't tell them until
02:37recently that those weren't Jamaican products because they're so popular in our island.
02:43And now to see a bank thriving in the other direction, it's a proud moment for Jamaica.
02:49Cindy Raghubar-Tikasingh, TV6 News.
Comments