MMB Merchant Bank is now a licensed commercial bank operating as JMMB Bank (Jamaica) Ltd.

The group’s entry into the commercial banking sector became official on Monday, making it the eighth commercial bank operating on the island.

It also marks a significant milestone for JMMB, which is celebrating its 25th year of operation, and will aid the group in continuing with its original vision of providing a unique kind of financial partnership to clients.

The company told the Jamaica Observer that it plans on unveiling the new brand in September.

JMMB’s transitions into a commercial bank follows the approval by the Bank of Jamaica in September 2016 of JMMB Merchant Bank’s (JMMBMB) application to convert its merchant banking operations.

The roll-out of the rebranded entity, JMMB Bank, will see commercial banking services being introduced to all three of the former merchant bank’s locations in Ocho Rios, Montego Bay and on Knutsford Boulevard.

The bank intends to roll out additional branches, three of which are anticipated to be integrated financial life goals centre, by the end of 2018, bringing to total six centres across the island.

http://www.jamaicaobserver.com/business-observer/jmmb-bank-is-jamaica-8217-s-newest-bank_107863