November 17, 2025
JMMB Group Limited (JMMBGL)
Unaudited financials for the six months ended September 30, 2025:
JMMB Group Limited (JMMBGL) for the six months ended September 30, 2025 reported a 13% increase in Interest income totaling $22.14 billion compared to $19.66 billion in the corresponding period last year. Interest income for the second quarter had a 20% increase to close at $11.37 billion compared to $9.47 billion for the comparable quarter of 2024.
Interest expense amounted to $14.70 billion (2024: 14.36 billion), this represents an increase of 2% year over year. Consequently, net interest income increased by 40% to $7.44 billion compared to $5.30 billion for the six months ended June 30, 2024. The company booked net interest income of $3.92 billion for the second quarter versus $2.60 billion reported for the similar quarter of 2024.
Gains on securities trading and other investment activities grew by 43% to J$3.56 billion (2024: $2.50 billion), while foreign exchange trading gains increased by 23% to J$1.09 billion. Fees and commission income also advanced by 16%, closing at J$2.87 billion (2024: J$2.47 billion), buoyed by continued client confidence in off-balance sheet solutions such as pension funds and unit trusts.
Operating expenses for the six-month period amounted to J$12.83 billion, up 7% from J$11.94 billion in 2024, driven by inflationary pressures and strategic investments in long-term initiatives, including digital transformation. Total Operating Expenses for the second quarter amounted to $5.88 billion (2024: $5.58 billion).
As a result, operating profit rebounded significantly to J$2.38 billion, compared to a loss of J$714.68 million in the prior year, marking a turnaround of 233%.
Impairment loss on intangible assets increased by 17% to $811.76 million from $691.07 million in the prior period while other income increased by 82% to $54.17 million (2024: $29.73 million). Additionally, Finance costs amounted to $831.17 million, a 5% decline from $877.90 million in the prior period.
Notably, share of profit of associate increased by 295% to $2.85 billion (2024: $720.58 million).
Consequently, profit before taxation for the six months ended June 30, 2025, amounted to $3.64 billion, a significant turnaround relative to loss of $103.98 million reported in 2024. Profit before Taxation for the second quarter amounted to $4.22 billion (2024: $1.47 billion).
The tax charge incurred for the six months ended June 30, 2025, amounted to $259.45 million (2024: tax credit of $800.08 million) . As a result, The Group recorded net profit of J$3.38 billion, a 385% increase from J$697 million in the prior year.
Net profit attributable to shareholders amounted to $3.21 billion, a 451% increase from the $582.46 million reported in 2024. For the second quarter, Net profit attributable to shareholders $3.98 billion (2024: $2.12 billion).
The Group attributes this strong rebound to its Smart Growth Strategy, focused on resilient revenue streams, operational efficiency, and regional diversification. Banking contributed 62% of operating revenue (J$9.49 billion), while the investment segment accounted for 37% (J$5.59 billion), underscoring balanced growth across business lines.
Consequently, Earnings Per Share for the six months amounted to $1.64 (2024: EPS: $0.30), while Earnings Per Share for the quarter totaled $2.03 (2024: EPS: $1.09). The twelve-month trailing EPS was $3.14 and the number of shares used in these calculations was 1,955,552,532.
Notably, JMMBGL’s stock price closed the trading period on November 17, 2025, at a price of $16.91 with a corresponding P/E ratio of 5.38x.
Balance Sheet Highlights
The company’s assets totaled $751.08 billion (2024: $700.50 billion). The movement in total assets was primarily attributable to a 9% increase in ‘Loans and notes receivable’ to $228.80 billion (2024: $209.56 billion) and a 7% increase in ‘Investments and resale agreements’ to $355.98 billion (2024: $332.27 billion).
Shareholder’s equity was $63.33 billion (2024: $55.76 billion), representing a book value per share of $32.38 (2024: $28.51).
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