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KINGSTON, Jamaica — One of Jamaica’s prominent financial institutions, JN Bank, has delivered a stellar financial performance for the 12-month period closing March 31, 2026, with net profit surging more than threefold to hit $1.45 billion, new earnings filings show. The blowout result marks a dramatic turnaround from the $439 million net profit the bank recorded in the prior fiscal year, with pre-tax profit also climbing sharply to $2.29 billion in the latest reporting cycle.

Driven by faster expansion of revenue relative to operating outlays, operating profit jumped from $862 million in the 2025 fiscal year to $2.81 billion this past year. Bank officials noted that operating costs only saw a modest uptick over the period, helping the institution notch measurable progress on operational efficiency. Specifically, JN Bank’s cost-to-income ratio fell 8 percentage points to 87%, down from 95% in the prior year, signaling that the bank is trimming operational waste relative to the revenue it generates. Even with the improvement, the ratio still means the bank spends 87 cents on operational costs for every dollar of operating income it earns.

A sharp decline in credit impairment losses provided one of the largest boosts to the bank’s bottom line. Impairment charges on loans and other interest-earning financial assets dropped by more than 50% year-over-year, falling from $654 million to $285 million in the latest fiscal year. Industry analysts interpret this steep reduction as a clear sign of improving overall credit quality across JN Bank’s lending portfolio, though the institution has not yet released updated data on non-performing loan volumes or the outstanding balance of loans still under pandemic-era or emergency payment accommodation arrangements.

Total comprehensive income for the full year rose to $2.46 billion, lifted both by the improved core profitability and valuation gains logged in the bank’s reserve holdings. The bank also recorded solid growth across its balance sheet: total assets expanded to $286 billion, while customer deposits grew by an estimated $24 billion to reach just under $234 billion. Total equity increased by $2.5 billion to close the fiscal year at nearly $30 billion, with retained earnings hitting $5.5 billion. Net operating cash flow for the 12-month period came in at $13.2 billion.

JN Bank disclosed a total capital ratio of 13% in its earnings release, but it did not clarify which regulatory capital measurement the figure follows, nor did it compare the ratio to the minimum capital requirement mandated by the Bank of Jamaica, the country’s central banking regulator.

In a statement accompanying the earnings release, interim managing director Keith Levy reaffirmed the bank’s long-term strategy. “JN Bank will continue to improve operational efficiency and achieve its strategic objectives,” Levy said. “This will continue to drive its positive momentum and maintain its sustainable growth in the years ahead.”

Despite the strong headline results, the bank left several key details undisclosed in its initial earnings announcement. It has not yet shared what specific segments drove the overall income growth, the total size and performance metrics of its core loan portfolio, or whether the stronger-than-expected profitability will translate into higher dividend returns for the bank’s member owners.

KINGSTON, JAMAICA – Jamaican-based firm JFP Limited has unveiled a key leadership restructuring, ushering in a new era of governance following the end of Lisa Bell’s tenure as board chairman. The company made the transition official via a public media statement issued Thursday.

Metry Seaga, who previously held the top executive post as chief executive officer, has stepped into the chairman role. Taking over Seaga’s former CEO position is Andrea Melis, who most recently served as advisor to the CEO and chief operating officer. Separately, longtime COO Stephen Sirgany has retired from his day-to-day operational role but will remain on JFP’s board of directors, allowing the company to continue leveraging his decades of industry expertise and deep institutional knowledge of the firm.

In a statement released alongside the announcement, JFP praised outgoing chairman Bell for her steady leadership during an extraordinarily turbulent period for the company. During her time at the helm, Bell guided the organization through overlapping global and local crises while laying the critical groundwork for JFP’s current growth-focused strategy, and preserved consistent, stable leadership and governance frameworks through turbulent times.

“Serving as chairman of this organization has been one of the greatest honors of my career,” Bell shared in her remarks. “I’m deeply grateful to the board, our shareholders, and the entire dedicated team I had the privilege to work alongside. Even as we navigated unprecedented challenges – from the lingering economic fallout of the COVID-19 pandemic to the damage inflicted by Hurricane Melissa and ongoing global geopolitical disruptions – I never doubted this company’s ability to grow and reach new heights in the years to come.”

For his part, incoming chairman Seaga emphasized that the leadership shakeup balances continuity of JFP’s core mission with fresh vision to capitalize on emerging opportunities. “JFP has built an incredibly strong foundation over its history, and we are now moving into a new growth phase that requires both steady continuity and new perspectives,” Seaga explained. “I want to thank Lisa Bell for her indispensable leadership and contributions during this pivotal period for the company. I’m eager to work closely with the full board and management team to build on the progress we’ve already made, and keep delivering long-term value for our shareholders, customers, and employees.”

Melis, the newly appointed CEO, echoed that sentiment, saying he plans to build on the momentum the company has already generated in recent months. Since joining JFP in June 2025, Melis has already spearheaded the rollout of 58 targeted improvement initiatives across seven core business divisions, aimed at boosting operational efficiency, unlocking new regional market opportunities, strengthening quality assurance protocols, and scaling commercial activity. These early changes have already delivered measurable results: average contract values have jumped 50% to $4.8 million, while the company’s active project pipeline has expanded nearly fourfold to hit approximately $1.3 billion.

“Since joining the team, I’ve identified substantial untapped growth opportunities for JFP across Jamaica, the Caribbean, and the broader Central American region,” Melis said. “My top priority in this new role will be driving forward a bold regional and international expansion strategy that covers both sales and procurement, allowing us to extend our reach into new markets and business segments we haven’t yet tapped into. We’re building a more agile, precise, and far-reaching business, and I’m fully committed to accelerating that progress as we enter this next phase of scaling.”

Company leadership noted that the leadership transition comes at a time of solid improvement for JFP’s operations and commercial outlook. Over the past 12 months, the firm has prioritized disciplined cost management, refined pricing strategies, tighter operational oversight, and a renewed focus on commercial execution. These efforts have put the company on a clear path back to profitability, and positioned it to pursue both sustained local growth in Jamaica and strategic expansion across the wider Caribbean and Central American region.

Jamaica-based Kintyre Holdings (JA) Limited has marked a major milestone in its aggressive global diversification and expansion strategy, officially stepping into the fast-growing electric vehicle industry through a new strategic alliance with Florida-based Rush Hour Engineering. The joint venture will operate under Kintyre Holdings’ existing subsidiary Affinity Ventures Group Limited, with the new automotive division branded as Affinity Automotive Group.

Per an official press release from Kintyre, the company will hold a majority controlling stake in the Caribbean dealership network, which is designed to lead the rollout and growth of the EV brand across the region, starting with its home base of Jamaica. Kintyre will also maintain a minority stake in the direct distribution entity that partners directly with the original vehicle manufacturer.

The core focus of the new venture is to introduce and distribute electric vehicles manufactured by China’s Jiangxi Jiangling Group Electric Vehicle Co., better known as JMEV, across Jamaica first, before expanding to markets across the broader Caribbean. JMEV, a joint venture co-owned by global automaker Renault and the Chinese government, has already built a growing presence across the global EV landscape in recent years.

This move places Kintyre among a rising cohort of Caribbean businesses tapping into the global transition to renewable energy and zero-emission transportation, positioning the firm to capture early market share in a rapidly expanding regional sector. Edwin Xiao, CEO and co-founder of Rush Hour Engineering, shared strong optimism about the partnership and the untapped potential of Caribbean EV markets.

“The Caribbean is primed for major growth in electric mobility, and Jamaica serves as a critical gateway to the entire region. Teaming up with Kintyre Holdings gives us a robust local foundation, backed by ambitious leadership and a clear long-term expansion vision,” Xiao explained.

To lead the new operation, Brandon Fernandez, a former executive with Kia Automotive, has been tapped as general manager for the dealership. Fernandez will oversee regional sales strategy, customer experience development, and the full rollout of operational frameworks across the region.

In a sign the venture is already moving forward quickly, Kintyre confirmed it has successfully imported three JMEV ELIGHT electric sedans to Jamaica. The vehicles will soon be open to the public for viewing and test drives, as the team works to introduce Jamaican consumers to the benefits of electric mobility and sustainable transportation.

Tyrone Wilson, Chairman, President and CEO of Kintyre Holdings, framed the partnership as a transformative step for the company’s long-term trajectory. “Kintyre is building a strong, resilient business platform, and we are incredibly proud of the progress we have delivered to date. This international partnership aligns perfectly with our key strategic objectives for this year. We are thrilled to collaborate with Edwin Xiao and his team, and to take the lead building this EV brand across the Caribbean. Our initial priority will be targeting fleet sales, while we scale up our direct-to-consumer division over time,” Wilson said.

Adrian Smith, Kintyre’s Deputy CEO and Chief Investment Officer, added that the partnership aligns with the firm’s broader investment strategy of targeting scalable industries with strong long-term growth upside. “This is another strategic move for Kintyre as we continue to build out diversified revenue streams and position the company in high-growth global sectors. Electric vehicles and renewable transportation are the future, and we are pleased to secure an early leadership position in the Caribbean market,” Smith noted.

Kintyre has announced that further details, including confirmed dealership locations, charging infrastructure partnerships, and updated regional expansion timelines, will be shared publicly in the coming months.

The EV market entry comes on the heels of a strong quarterly performance for the firm. In the first quarter of 2026, Kintyre Holdings reported $531.33 million in net profits, driven largely by strong gains in its real estate portfolio. The company also recorded rising revenue from another of its subsidiaries, Bold Manufacturing and Distribution, with all of Kintyre’s business units currently reporting positive growth.