November 19, 2025
JMMB Group Limited(JMMBGL)
Unaudited financials for the nine months ended September 30, 2024:
JMMB Group Limited (JMMBGL), for the nine months ended September 30, 2024, reported a 1% increase in Interest income totaling $29.99 billion compared to $29.73 billion in the corresponding period last year. Interest income for the third quarter had a 1% increase to close at $10.33 billion compared to $10.20 billion for the comparable quarter of 2023.
Interest expense amounted to $21.86 billion (2023: $22.05 billion), a decrease of 1% year over year. Consequently, net interest income increased by 6% to $8.13 billion, compared to $7.69 billion for the nine months ended September 30, 2023. The company booked a net interest income of $2.82 billion for the third quarter versus $2.62 billion reported for the similar quarter of 2023. Fees and commission income decreased to close at $3.885 billion (2023: $3.893 billion), while Gains on securities trading net decreased by 28% from $5.01 billion in 2023 to $3.58 billion in the period under review. As a result, operating revenue net of interest expense for the nine months ended September 30, 2024, amounted to $18.14 billion, a 4% decrease relative to $18.90 billion reported in 2023.
Total Operating Expenses for the nine months ended September 30, 2024, amounted to $17.76 billion, an 8% increase relative to the $16.48 billion reported in 2023. Total Operating Expenses for the third quarter amounted to $5.82 billion (2023: $5.51 billion). Operating Profit totaled $379.01 million, an 84% decrease from last year’s period. (2023: $2.42 billion).
Profit before Taxation for the nine months ended September 30, 2024, amounted to $951.37 million, a 94% decrease relative to the $15.82 billion reported in 2023. Profit before Taxation for the third quarter amounted to $1.06 billion (2023: $14.51 billion).
Taxation for the nine months ended September 30, 2024, decreased 24% to reach $882.78 million (2023: $1.17 billion). Equity holders of the parent for the nine months amounted to $1.64 billion, an 89% decrease from the $16.71 billion reported in 2023. For the third quarter, Equity holders of the parent were $1.06 billion (2023: $14.90 billion).
Consequently, Earnings Per Share for the nine months amounted to $0.94 (2023: EPS: $8.54), while Earnings Per Share for the quarter totaled $0.54 (2023: EPS: $7.62). The twelve-month trailing LPS was $1.71, and the number of shares used in these calculations was 1,955,552,532.
Notably, JMMBGL’s stock price closed the trading period on February 19, 2025, at $23.20.
Balance Sheet Highlights
The company’s assets totalled $704.75 billion (2023: $725.97 billion). The overall growth in the company’s total asset base is driven by an increase in ‘Loans and notes receivables’ to close at $212.90 billion (2023: $202.69 billion). This growth was tempered by a decline in ‘Investments and Resale agreements’ to close at $326.93 billion (2023: $365.74 billion).
Shareholders’ equity was $53.47 billion (2023: $71.04 billion), representing a book value per share of $27.34 (2023: $36.33).
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