The JN Financial Group (JNFG), the financial holding company within The Jamaica National Group, is on track to return to profitability, reflecting the leadership’s strategic focus and decisive actions to strengthen the Group’s operations and financial position.

Through restructuring and strengthening of core portfolio areas, JNFG has established a stable and efficient foundation to drive sustained financial improvement over the long term.

The audited financial statements of JNFG for the year ended March 31, 2025, reflected a loss, primarily influenced by a one-off $4.3 billion disposal charge associated with the sale of 80.1 per cent of its stake in JN Bank UK. While JNFG reported a consolidated loss of $1.87 billion, this represents a significant improvement compared with the $2.52 billion consolidated loss recorded in the previous year. The results demonstrate clear progress and a positive trajectory towards financial stability.

The sale of JN Bank UK and JN General Insurance (JNGI), together with the recently signed share sale agreement for JN Fund Managers (JNFM), form part of the Group’s broader strategic approach to streamline operations and allocate resources more efficiently.

The transaction with JN Bank UK resulted in that company ceasing to be a subsidiary of the Group as of September 2024 and resulted in a $4.8 billion decrease in overall investment in subsidiaries.

The sale of JNGI to British Caribbean Insurance Company Limited was finalised on June 6, 2025, resulting in the transfer of the JNGI shares owned by the JNFG, while a share sale agreement for JNFM was executed in August 2025 and is awaiting regulatory approval. 

The sale of JNFM will not affect its clients’ assets or services, as the potential purchaser was carefully selected to ensure consistency in the high quality of personalised service provided by the JN Group.

From an investment perspective, JNFM’s clients funds are secured as the company operates strictly as an intermediary, facilitating investments in Government of Jamaica bonds, corporate bonds, Bank of Jamaica (BOJ) certificates of deposit and equities on local and international markets. It also manages pension funds, mutual funds and institutional portfolios under independent governance structures, with all client assets held in their names and registered with the Jamaica Central Securities Depository and the BOJ, ensuring transparency and regulatory compliance.

As part of its focus on a return to profitability, JNFG is working on strengthening performance across its banking, remittance and life insurance segments, while also enhancing customer service to improve client satisfaction and loyalty.

In banking, JN Bank (Jamaica) continues to focus on building capital resilience and delivering sustained operational improvements. JN Bank (Jamaica) remains resilient and well capitalised, which is evidenced by the periodic reporting to the BOJ. At March 2025, the subsidiary met the BOJ’s cash reserve requirement while posting a pre-tax profit of $582 million and an after-tax profit of $439 million. Ongoing investments in technology and priority focus on customer experience will further improve service delivery, increase operational efficiency and provide members and customers with faster, more convenient and secure banking solutions.

Within the remittance portfolio, emphasis remains on advancing digitalisation to enhance service delivery and extend JN Money’s global footprint through new and strengthened partnerships across the United States, Europe, Caribbean, Asia and Africa. The company recently announced its expansion into ten new countries and additional states in the US, with plans to increase those numbers by the end of the year.  

The life insurance business, JN Life Insurance, continues to focus on increasing profitability by expanding market share and broadening its range of customer-focused products and solutions. 

The Group is confident that these strategic actions, combined with ongoing efficiency improvements, enhanced customer satisfaction, disciplined cost management, targeted investments in digital platforms, including the ONE JN Passport, JN Bank LIVE mobile app, JN Pay wallet and point-of-sale solutions, new ATMs, along with new products, will ensure that it maintains stability and achieves sustained improvement in its operating performance in the new financial year and beyond.