JN Bank reports $1.45 billion net profit for year ending March 2026

Jamaica National (JN) Bank has reported a pre-tax surplus of more than $2.29 billion for the financial year that closed on March 31, 2026.

Net earnings reached $1.45 billion — roughly triple the $439 million recorded in the previous year. The institution said the outcome points to disciplined strategy and staying power in the face of ongoing pressures at home and abroad, while it keeps working to create lasting value for JN members.

Operating earnings climbed to $2.81 billion, up from $862 million a year earlier. JN Bank linked the jump to healthier revenue and tighter day-to-day operations, helped by a drop in its cost-to-income ratio from 95 per cent to 87 per cent. Revenues rose faster than spending, lifting overall returns even though running costs edged up slightly compared with the prior period.

Lending quality also strengthened. Impairment charges fell sharply, from $654 million to $285 million, which the bank said reflects a healthier book of loans and careful handling of credit risk.

Total comprehensive income grew to $2.46 billion, driven by higher earnings and better valuation reserves. Retained earnings stood at $5.5 billion, underlining a robust capital footing.

On the balance sheet, total assets expanded to $286 billion. Customer deposits grew by about $24 billion to just under $234 billion, a sign, the bank said, of sustained trust from Jamaicans at home and in the diaspora.

Shareholders' funds rose by $2.5 billion to just under $30 billion, with the capital ratio holding at 13 per cent. JN Bank said that position leaves it well placed to keep serving members should conditions turn difficult.

Operating cash flow of $13.2 billion, it added, further supports its liquidity and capital strength.