JN Bank records surplus of more than $2B

The Jamaica National (JN) Bank says it achieved over $2.29 billion before tax for the financial year ended March 31, 2026.

Net profit amounted to $1.45 billion, more than three times the prior year’s result of $439 million.

According to the financial institution, this growth reflects the bank’s resilience and deliberate strategic focus, amid continued local
and global challenges. This, as it remains steadfast in delivering long-term value to JN members.

It says operating profit more than doubled to $2.81 billion from $862 million. JN Bank says this growth underscores strong earnings and improved operational efficiency, which was backed by a reduction in the cost-to-income ratio, moving from 95 per cent to 87 per cent. Income growth outpaced expenses, resulting in stronger profitability, although operating costs increased modestly year over year.

The bank says its credit performance also improved, as impairment losses declined significantly from $654 million to $285 million, signalling a stronger loan portfolio and prudent risk management practices.

Its total comprehensive income rose to $2.46 billion, supported by earnings growth and improved valuation reserves, while retained earnings were $5.5 billion, emphasising its strong capital position.

In the meantime, JN Bank says its total assets rose to $286 billion, and customer deposits increased by approximately $24 billion to just under $234 billion, demonstrating the continued strong confidence in the bank by Jamaicans locally and overseas.

The bank says its capital base remained solid, with total equity moving up by $2.5 billion to just under $30 billion, while it maintains a capital ratio of 13 per cent. This, the bank says, demonstrates the strength of JN Bank and its ability to continue serving members in the event of challenges. It also noted that its cash flow of $13.2 billion further reflects this strength, along with the maintenance of its strong liquidity and capital levels.