JMMB Bank is set to ex­pand fur­ther amid pos­i­tive mo­men­tum in the lo­cal mar­ket, the bank's Shawn Moses said on Thurs­day.

Speak­ing at open­ing of the bank'slat­est lo­ca­tion in Princes Town, Moses de­tailed the bank's progress in the past decade.

"In 2013, JMMB Trinidad con­tributed less than five per cent of our re­gion­al group's con­sol­i­dat­ed op­er­at­ing rev­enue. By the end of fis­cal 2024, so that's March, 2024, Trinidad's con­tri­bu­tion to the group would have grown to 15 per cent," said Moses who said the bank had a record-break­ing per­for­mance dur­ing its 2024 fi­nan­cial year.

"JMMB Bank record­ed its best ever fi­nan­cial per­for­mance dur­ing fis­cal 2024, high­est net prof­it in the or­ga­ni­za­tion's his­to­ry. Our bal­ance sheet re­mains very ro­bust, with to­tal as­sets in ex­cess of $3.2 bil­lion. And our cap­i­tal re­mains very strong and well above reg­u­la­to­ry re­quire­ments. So the JMMB Bank, and over­all, the JMMB is on a very sol­id foun­da­tion, " said Moses.

JMMB op­er­ates in four coun­tries in the Caribbean: Ja­maica, the Do­mini­can Re­pub­lic, Trinidad and To­ba­go and Bar­ba­dos.

Moses said the de­ci­sion to open the lo­ca­tion in Princes Town was as a re­sult of bur­geon­ing busi­ness sec­tor in the South­ern com­mu­ni­ty.

"The Princes Town com­mu­ni­ty is bustling with en­tre­pre­neur­ial spir­it,full of re­tail and ser­vices busi­ness. As we start­ed to in­ter­act with the peo­ple of Princes Town, it be­came very ev­i­dent that the peo­ple are hard work­ing, warm and invit­ing. There's a re­al fam­i­ly vibe in Princes Town," said Moses ,who con­firmed that the bank would be open­ing its next branch in To­ba­go.

Princes Town MP Bar­ry Padarath hailed the move as he not­ed that Princes Town served as town space for sev­er­al south­ern com­mu­ni­ties like Moru­ga and Table­land.