Britain’s first Caribbean-owned bank, JN Bank UK, a subsidiary of The Jamaica National Group, has won the British Bank Award for the Best Personal Loan Provider for 2022.
The ceremony was held in London on May 5.
The bank was officially opened in October 2020, following regulatory approval on December 12, 2019.
The approval was granted without the requirement for a period of authorisation, which is evidence of the strength of the application submitted to the Prudential Regulatory Authority for the establishment of the bank.
CEO Earl Jarrett noted that The Jamaica National Group decided to set up a bank in the UK in response to a decision by several international banks to de-risk their operations by removing persons from the Caribbean from their business clients.
“The withdrawal of banking services from clients in Jamaica and the wider Caribbean had a significant impact on businesses and personal citizens, including pensioners and investors, who had established a financial presence in the UK and the Caribbean. The Bank’s performance in the UK is commendable as the entity was launched during the midst of the COVID-19 pandemic in the UK.”
JN Bank UK said it caters to the wider UK market and has built a reputation for delivering high-quality service.
JN BANK UK CURRENTLY SERVES APPROXIMATELY 10,300 PERSONS
It noted that its services have been rated highly on a consistent basis by consumers who gave the bank a score of 4.8 out of five in July 2021 on the consumer review platform Trust Pilot.
Currently, JN Bank UK serves approximately 10,300 persons with savings and loan products.
The award and performance reflect the deep involvement of the Board of Directors, chaired by Ian Marshall, and the management team, led by JN Bank UK CEO, Dean Fensome and Paulette Simpson.
The JN Group said it was proud of the achievements of the UK Bank and was looking forward to further growth and development as it pursues a mission of serving the citizens of the UK, the Caribbean and the wider Diaspora in the UK.