The JMMB Group’s latest deal has strengthened its presence in the Caribbean region. 

JMMB International was recently granted a securities dealer license to operate in Barbados.

According to the company, it will initially offer investment solutions to institutions, corporations and high-net-worth individuals. 

Speaking on Taking with Kalilah Reynolds, Business Journalist David Rose said that among the products that will be offered is an online international brokerage service, called JMMB International Access. 

Additionally, Bajans will have access to regional equity and fixed-income markets and various capital markets solutions. 

At last Thursday’s investor briefing JMMB CEO, Keith Duncan said operations in Barbados began in October.

“We’re happy to be in the Bajan market and we’re looking forward to growth in that market and acquiring some market share in Barbados,” he said.

Rose noted that the company’s announcement follows its second-quarter report which showed a mixed performance.

Net interest income fell slightly from $2.79 billion to $2.05 billion and the company’s operating revenue dropped 13% to $5.11 billion.

Rose noted the Barbados operation should contribute nicely to the company’s performance.