Barita unveils strong first-half FY2026 performance and outlines innovation and growth agenda at 48th AGM

Building on the strong performance delivered during the 2025 financial year, Barita Investments Limited told shareholders at its 48th Annual General Meeting (AGM) that the Group has sustained its growth momentum into 2026 through continued execution of its One Group strategy and strategic investments in innovation, digital banking and real estate development.

The company reported that for the six months ended March 31, 2026, Barita reported net operating revenue of J$4.9 billion, representing a 36 per cent increase over the corresponding period last year, while net profit after tax rose 17 per cent to J$1.4 billion. Earnings per share also increased by 17 per cent to J$1.15.

The performance was driven by broad-based growth across the Group’s core businesses, with net interest income increasing by 145 per cent to J$937 million, fee and commission income rising by 9 per cent to J$2.0 billion, and investment gains increasing by 50 per cent to J$1.9 billion.

Chief Executive Officer Ramon Small-Ferguson said the results reflect years of disciplined execution and strategic investment. “We have deliberately built a more diversified institution with multiple engines of growth. Our investments in governance, technology, people, and strategic partnerships continue to strengthen our competitive position while creating long-term value for our clients and shareholders.”

Shareholders were also taken through Barita’s transformation since 2018, when Cornerstone acquired a majority stake in the company. Presentations highlighted the Group’s progression from strengthening its capital base and balance sheet, to expanding into alternative investments, real estate and digital capabilities, and more recently integrating its businesses under the One Group strategy through the establishment of Barita Financial Group Limited as a licensed Financial Holding Company, the acquisition and rebranding of JN Fund Managers, now Barita Fund Managers, the renaming of Cornerstone Trust & Merchant Bank to Barita Merchant Bank, and the strategic partnership with PROVEN.

The AGM also showcased how innovation is becoming a key driver of Barita’s next phase of growth.

Chief Innovation Officer Stefano D’Ambrosio said the Group’s approach is centred

on building technology that solves real business problems while creating a seamless client experience.

“Innovation is how we compound value. It starts with the platform, continues with investing in our people, and is strengthened by disciplined artificial intelligence that solves real business problems. Together, smarter technology, talented teams and better client interactions are driving growth, efficiency and wider access to financial services,” he noted.

D’Ambrosio highlighted Bric by Barita, developed by Barita Merchant Bank, as the Group’s digital front door and a key enabler of its digital-first banking strategy.

He explained that the platform has secured the Bank of Jamaica’s non-objection and is being introduced through a measured, controlled rollout before scaling across the market. Its initial capabilities include fully digital account opening, person-to-person transfers, a Visa companion card, and real-time account management, providing clients with a simpler, more connected banking experience that will create a single entry point into the broader Barita ecosystem.

He also noted that the platform has been designed and built in Jamaica by an in-house technology team, supported by the Group’s Analyse and Rise programme, which is developing the next generation of technology and financial services talent.

Real estate also emerged as a significant pillar of Barita’s long-term growth strategy.

Chief Executive Officer of Real Estate Development at Cornerstone, Bernhard Stocker, outlined how the Group is transforming its real estate portfolio from passive land ownership into phased, investable and executable developments capable of generating sustainable long-term value. “Our objective is not only project delivery but building a value-creation engine that supports shareholders, attracts capital and strengthens Jamaica’s long-term position as a destination for business, lifestyle and hospitality investment,” he stated.

Stocker said the strategy focuses on disciplined execution, transparency, and sustainable development, while creating multiple avenues for shareholder value through development profits, recurring rental income, asset management revenues, increased land values, foreign direct investment, and the delivery of world-class developments that elevate Jamaica’s global competitiveness.

The AGM also highlighted continued operational progress across the Group, including improvements in corporate governance reflected in a JSE Corporate Governance Index score of 88.19, ongoing technology modernisation through enterprise data capabilities, cybersecurity enhancements and process automation, continued implementation of the Financial Holding Company structure, and more than US$130 billion mobilised for clients by the Investment Banking business since inception. Shareholders also heard about continued investments in client protection, leadership development, governance training, and technical capability building.

Reflecting on FY2025, shareholders were reminded that while net profit after tax was J$3.0 billion and net operating revenue reached J$8.7 billion, the results reflected the normalisation of investment gains following an exceptionally strong FY2024. Despite this, the Group continued to strengthen its core franchise through higher net interest income and fee and commission income.

The AGM reinforced Barita’s long-term vision of building a stronger, more connected financial services platform where disciplined execution, innovation, digital transformation and strategic investments work together to create sustainable value for shareholders, clients and the wider Caribbean.