KINGSTON, Jamaica — The JN Financial Group (JNFG), the financial holding company of the Jamaica National Group, says it is on a clear path back to profitability, following decisive strategic moves to strengthen its financial position and sharpen its operational focus.

The group’s audited financial statements for the year ended March 31, 2025, reported a consolidated loss of $1.87 billion, a notable improvement from the $2.52 billion loss recorded the previous year. The results were largely impacted by a one-off $4.3 billion disposal charge linked to the sale of 80.1 per cent of its stake in JN Bank United Kingdom (UK).

Despite the loss, the company says the performance reflects steady progress toward long-term financial stability, driven by restructuring and a renewed emphasis on its core business segments.

A series of significant transactions form part of JNFG’s broader strategy to streamline operations and reallocate resources more efficiently.

The sale of JN Bank UK, which ceased being a subsidiary in September 2024, resulted in a $4.8 billion reduction in the group’s overall investment in subsidiaries. In addition, the sale of JN General Insurance (JNGI) to British Caribbean Insurance Company Limited was finalised on June 6, 2025, while a share sale agreement for JN Fund Managers (JNFM) was signed in August and is now awaiting regulatory approval.

The group assured that the sale of JNFM will not affect clients’ assets or services. JNFM operates strictly as an intermediary, with client funds invested in Government of Jamaica and corporate bonds, Bank of Jamaica (BOJ) certificates of deposit, and equities locally and internationally. All client assets remain securely held in their names and registered with the Jamaica Central Securities Depository and the BOJ.

JNFG says its return to profitability will be anchored in improved performance across banking, remittance and life insurance operations, supported by investments in technology and customer experience.

JN Bank remains well capitalised and compliant with BOJ requirements. For the year ended March 2025, the bank reported a pre-tax profit of $582 million and an after-tax profit of $439 million. The bank is focused on building capital resilience, improving operational efficiency and expanding digital services, including upgrades to its mobile and online platforms.

JN Money is advancing its digital transformation while broadening its global footprint. The company has recently expanded into 10 new countries and additional states in the United States, with further growth planned before year-end.

JN Life Insurance is working to increase profitability by expanding its market share and diversifying its product offerings to meet evolving customer needs.

JNFG says ongoing efficiency measures, disciplined cost management and targeted investments in digital platforms, including the ONE JN Passport, JN Bank LIVE mobile app, JN Pay wallet, and upgraded ATMs and POS solutions, are central to its strategy.

The group expressed confidence that these initiatives, combined with enhanced customer service and product innovation, will ensure operational stability and drive sustained improvements in the coming financial year and beyond.