MONTEGO BAY, St James — A grand total of $5 billion is currently under management at the JMMB, Montego Bay branch, established since 1994.

“This branch has approximately $5 billion under management. That is hell of a number and I would like to congratulate the team. But mostly I would like to thank the clients whose money it is that we manage,” the chief executive officer of the JMMB group, Keith Duncans remarked.

He was speaking at Monday evening’s official opening of the Montego Bay’s branch location at Fairview.

The new 4,000 square feet home is double the size of the previous location at Howard Cooke Boulevard.

Meanwhile, Duncan told the many customers who gathered at the opening ceremony, that in the wake of the low interest policy, instituted by the Bruce Golding administration, JMMB has designed “investment plans that can diversify you across different asset classes to ensure you greater returns than you can earn just on money market instruments”.

“So we diversify you across bonds, equities and other asset classes such that you can earn a return which beats inflation so you can stay ahead of the game,” Duncan explained.

“We don’t have the free run of high interest rates anymore, that we can pass just pass on the high interests to you anymore, we have to work harder for you our clients to deliver higher and greater returns than you could earn just on fixed income instruments”.

In the meantime, president of the Montego Bay Chamber of Commerce and Industry (MCCI), Davon Crump said the financial institution is well placed to participate in the resort city’s growth and development.

“The Montego Bay Chamber of Commerce and Industry has always had an excellent relationship with JMMB and this evening we join in celebrating not only the opening of your new offices here at the Fairview Office Park, but also your continued good fortune in being so well positioned to further participate directly in Montego Bay’s growth and development,” Crump argued.

Meanwhile, Montego Bay’s mayor Charles Sinclair lauded JMMB for their contribution to the St James Parish Council over the years.

“I must say that JMMB has partnered well with us at the St James Parish Council. JMMB has also given back in a significant way to the community of Montego Bay. There is never a programme that we have at the St James Parish Council that JMMB does not call and offer their assistance, whether its financially or the provision of human resource,” Sinclair remarked.