At the recent Mayberry Investor Forum, Keith Duncan, CEO of JMMB Group disclosed that the company pulled off a remarkable first quarter.

In a resounding display of financial strength, JMMB reported a 25% surge in gross revenues, totaling an impressive $14 billion. Additionally, JMMB reported an extraordinary 131% gain on Securities trading income up to $2.4 billion, showcasing JMMB's proficiency in seizing market opportunities.  These improvements combined with the $1.7B share of profits in associates, resulted in a Net Profit for the period of $2.55 billion compared to a Net Loss of $2.2 billion for Q1 2022.

Mayberry Investments Limited, a distinguished player in the financial services sector, commended JMMB for its exceptional financial performance in Q1 2023, noting that the company's strategic acumen and financial prowess have translated into extraordinary results, firmly establishing it as a key player in the financial services sector.

Anticipating a global downturn in interest rates and controlled inflation, JMMB is well-positioned for substantial growth in the coming months. Further, the expected reduction in interest rates by the Central Bank of Jamaica in the next 3 – 6 months will increase liquidity in the local capital market and restore market confidence in the equity market in particular. This not only promises increased trading gains for JMMB’ s business but this will also likely result in a substantial increase in JMMB’s stock price as PE valuations surge on the back of falling interest rates.

JMMB's balance sheet illustrates a story of financial robustness and expansion. Total assets increased by 9%, soaring to $679 billion. Furthermore, shareholders' equity displayed a commendable 15% growth, soaring to $54 billion. The loan book exemplified disciplined lending practices, registering 6% growth, culminating to $189 billion. Deposits, too, experienced

notable growth, surging by $30 billion to $183 billion. This increase vividly underscores the market's unwavering confidence in JMMB's impeccable financial stewardship.

Keith Duncan, JMMB Group CEO, emphasised, "Our robust performance in the first quarter of 2023 underscores our strategic focus and resilience in navigating the evolving financial landscape. We remain dedicated to delivering value to our clients and stakeholders. With a strong balance sheet and prudent lending practices, we are well-prepared for continued growth and to seize market opportunities."

Mayberry Investments, with its sharp financial insight, foresees a bright horizon for JMMB. As anticipated declines in interest rates loom, the potential for amplified trading gains becomes increasingly evident.  Moreover, with JMMB’s current stock price currently trading at a 5 times PE ratio based on the 12 month trailing earnings, Mayberry estimates the stock price to be undervalued by circa 50%, making it an enticing investment prospect for the short to medium term..

Dan Theoc, VP of Investment Banking at Mayberry Investments Limited, expressed, "As inflation and interest rates subside, we anticipate a shift in short term interest rates from the current 8 - 9% range to a range of 5 - 6% in the next six to twelve months. This transition is poised to propel the stock market. The JMMB team has shown exceptional management in these challenging times. Looking ahead, I'm optimistic about the next 6 - 12 months, especially for JMMB. In my market search, I found only a handful of companies with such strong growth, diversification, and attractive valuation metrics. Buying JMMB below $30 is a unique opportunity. I expect it to see a 15-20% rise by year-end and a substantial 30–50% increase in the next 9 -12 months."

In the financial landscape, JMMB stands as a formidable force, conducting a symphony of financial strength, strategic agility, and operational prowess.