JMMB Group Limited has opened its first digital smart branch at 102 Hope Road in Liguanea, St Andrew, as the financial services company accelerates its move toward digital banking and self-service solutions.
The new branch combines automated banking technology with access to staff who can assist customers with banking, investment and financial planning services.
Customers can use the facility for 24-hour cash withdrawals and deposits in Jamaican and US dollars, cheque deposits, foreign-currency drop-box services, account opening, loan applications, fund transfers, stock trading and debit card services.
The launch follows a mixed financial year for JMMB. For the year ended March 31, 2026, the group recorded a 15 per cent increase in consolidated net operating revenue to $29.07 billion, supported by higher interest income, foreign exchange earnings and investment management fees.
However, net profit declined by 50 per cent to $1.87 billion, down from $3.74 billion the previous year.
The company said the reduction was largely due to a lower contribution from Sagicor Financial Company Limited, the absence of gains recorded in the previous period and the loss of a $1.95-billion tax credit that had boosted the prior-year results.
JMMB reported that digital-only clients represented 49 per cent of its customer base at the end of March 2026, as more customers shift toward online and self-service banking.
The group’s total assets also grew by eight per cent to $761.55 billion, while customer deposits increased by 18 per cent.
JMMB said the digital smart branch is part of a wider technology programme aimed at reducing branch wait times, improving service consistency and expanding digital access across its regional markets.
Future plans include expanding digital loan applications, strengthening online customer onboarding, introducing credit cards in additional markets and rolling out the Moneyline mobile application in the Dominican Republic.
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