KINGSTON, Jamaica — The JN Financial Group (JNFG), the financial holding entity of the Jamaica National Group, has announced significant strides toward restoring profitability. This follows a series of strategic decisions aimed at bolstering its financial health and refining its operational focus. The group’s audited financial statements for the fiscal year ending March 31, 2025, revealed a consolidated loss of $1.87 billion, marking a substantial improvement from the $2.52 billion loss reported the previous year. This financial outcome was heavily influenced by a one-time $4.3 billion charge associated with the divestment of an 80.1% stake in JN Bank United Kingdom (UK).
Despite the reported loss, JNFG emphasized that these results underscore steady progress toward achieving long-term financial stability. The company attributes this progress to a comprehensive restructuring initiative and a renewed focus on its core business areas. Key strategic moves included the sale of JN Bank UK, which ceased to be a subsidiary in September 2024, resulting in a $4.8 billion reduction in the group’s investment in subsidiaries. Additionally, the sale of JN General Insurance (JNGI) to British Caribbean Insurance Company Limited was finalized on June 6, 2025, while a share sale agreement for JN Fund Managers (JNFM) was signed in August and is pending regulatory approval.
JNFG reassured stakeholders that the sale of JNFM would not impact client assets or services, as the entity operates strictly as an intermediary. Client funds remain securely invested in Government of Jamaica and corporate bonds, Bank of Jamaica (BOJ) certificates of deposit, and both local and international equities, all registered with the Jamaica Central Securities Depository and the BOJ.
The group’s strategy for returning to profitability hinges on enhanced performance in banking, remittance, and life insurance operations, supported by significant investments in technology and customer experience. JN Bank, which remains well-capitalized and compliant with BOJ requirements, reported a pre-tax profit of $582 million and an after-tax profit of $439 million for the fiscal year ending March 2025. The bank is focused on strengthening capital resilience, improving operational efficiency, and expanding digital services, including upgrades to its mobile and online platforms.
JN Money is advancing its digital transformation while expanding its global presence, having recently entered 10 new countries and additional U.S. states, with further growth anticipated before year-end. Meanwhile, JN Life Insurance is working to boost profitability by increasing its market share and diversifying its product portfolio to meet evolving customer needs.
JNFG highlighted that ongoing efficiency measures, disciplined cost management, and targeted investments in digital platforms—such as the ONE JN Passport, JN Bank LIVE mobile app, JN Pay wallet, and upgraded ATMs and POS solutions—are central to its strategy. The group expressed confidence that these initiatives, combined with enhanced customer service and product innovation, will ensure operational stability and drive sustained improvements in the coming financial year and beyond.