JAMAICA Money Market Brokers (JMMB) Group announced that it aims to acquire a commercial banking licence by 2018 despite failed attempts seven years ago.
Concurrently the group got shareholder approval to allow up to six billion new preference shares for issue and/or allotment whenever the group deems it necessary. It was done as a proactive step to allow the group to quickly offer preference shares to the market to finance any potential acquisition.
JMMB’s clients total 220,000 across its regional operations and the commercial bank in Jamaica would represent a key licence to leverage increased services and earnings.
Published in the Observer
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