Jamaica Money Market Brokers (JMMB) has announced a change in the name of Capital & Credit Merchant Bank. The new name is JMMB Merchant Bank Ltd. The change in name arises from the acquisition of Capital & Credit Group last year, which was the owner of the Merchant bank.
The name change means that the bank can be better associated with the new owners who have a much higher profile and are now put into a better position fully benefit from the group’s customer base. It will also mean more benefit from marketing the bank as the JMMB brand is established and easily recognised. The move is also in keeping with the group’s desire to obtain a commercial banking license locally and to expand its banking activities in Jamaica.
JMMB operates in Jamaica, Trinidad and Dominican Republic and is primarily involved in securities brokering, securities trading, merchant and commercial banking, dealing in money market instruments, operating a foreign exchange cambio and managing funds on behalf of clients.
For the year to March 2013, the group make profit of $3.9 billion and had assets of $167 billion.
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