JMMB Group Targets Lower Operating Costs Through Efficiency Measures

JMMB Group is working to reduce its cost of doing business through targeted efficiency measures and stronger expense management, according to Chief Financial Officer Patrick Ellis.

Speaking at the company’s Annual General Meeting on October 10, 2025, Ellis said the Group aims to bring its operational efficiency ratio down to between 65 and 70 percent over the long term.

He explained that while staff costs fell by two percent, other expenses—particularly insurance, depreciation, and IT costs—rose due to JMMB’s digital transformation initiatives. Together, these three areas accounted for 70 percent of total expense growth.

As of March 31, 2025, JMMB’s annual operating expenses increased by less than one percent, reaching J$23.82 billion, or 94 percent of total revenue. The Group recorded an operating profit of J$1.4 billion for the year, followed by J$542.66 million in the first quarter of 2025/26.

Ellis also pointed to the company’s regional diversification, which has reduced exposure to domestic risks. Jamaica accounts for 56 percent of revenue, followed by the Dominican Republic (20%), Trinidad and Tobago (16%), and Barbados (8%).

The Group remains focused on scalable growth, efficiency, and balanced revenue generation across its regional markets.

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