DOLLA Financial Services Limited is now set to acquire the microfinance loan book of Supreme Ventures Limited (SVL) after its board of directors approved the deal last week.

Dolla Financial is expected to acquire part or all Evolve Loan Co Limited’s loan book subject to regulatory review by the Bank of Jamaica (BOJ). The deal was initially announced at the start of 2026 as Dolla entered into a 90-day exclusivity period on the proposed acquisition.

“We’ve recently entered into a transaction with Dolla, and as Dolla has confirmed last week, we’ve come to an agreement,” said Gary Peart, executive chairman of SVL, at the virtual investor briefing on Monday.

According to SVL’s 2025 audited financials, interest income on the combined Evolve and Supreme Ventures Fintech Limited (SVFL) loan portfolio grew five per cent to $248.63 million. This is a step up from the $204.68-million earned in 2023.

However, although SVL was earning more in consolidated interest income for 2025, the gross loan and advances book declined eight per cent from $825.10 million to $762.06 million. The net loan book also dipped 18 per cent from $519.42 million to $424.89 million due to higher expected credit loss provisions for the period.

SVL’s audited notes revealed that approximately 44 per cent or $338.18 million in gross loans were considered in default or credit-impaired due to their stage three classification. Evolve, formerly McKayla Financial Services Limited, increased the value of collateral held from $383.72 million to $644.43 million, a 68 per cent jump year over year. Evolve held $108.31 million in collateral in 2023.

“We’re seeking to divest the actual microfinance business, but a part of the transaction is that Dolla will be able to use our infrastructure. There will be more details of that as we go down the road,” Peart said on the potential synergies to be explored with Dolla under the core Supreme Life platform.

The sale of the microfinance loan portfolio represents one of the liquidity events that Peart expects to take place in 2026 for SVL as it moves to reduce leverage across the group. Peart highlighted that SVL should make a major announcement by April.

The move by Dolla to acquire the Evolve microcredit loan portfolio comes at a time when Dolla received about $1 billion in net proceeds from its recent public bond offering. Dolla also reported its best year on record as it generated $1.97 billion in consolidated interest income and reported $574.09 million in net profit. This was on the backdrop of Dolla having a net loan book of $4.73 billion and total assets of $5.16 billion.

SVL currently holds 15 per cent of Dolla’s issued shares and previously had a board seat when former Supreme Ventures Gaming CEO Xesus Johnston was with the company. SVL is set to collect $22.50 million on April 13 when Dolla pays its dividend of $0.06 per share.

There was a 75 million Dolla share trade on December 1 at $2.11 per share. This volume equated to the holdings of FRPE SPV Two Limited. After that trade, the shareholdings of PWL Bamboo Holdings Limited, VDWSD Limited and KMB Holdings Inc all moved from 23 million shares to 45.50 million shares or 1.8 per cent each of Dolla’s issued shares.

PWL Bamboo Holdings Limited is the holding company for Mayberry Group Limited (MGL) Executive Chairman Christopher Berry while VDWSD is a holding company in which Gary Peart is a shareholder. While KMB Holdings Inc’s owner isn’t clearly known, it matches the initials of Mayberry Group Vice-Chairman Konrad Mark Berry.

Mayberry Jamaican Equities Limited (MJE) also bought 4,966,031 shares during Q4 to bring its shareholding up to 300 million shares or 12 per cent of the company. Widebase Limited, another subsidiary of MGL, is the single largest shareholder with 21 per cent of the issued shares. The top 10 shareholders in Dolla collectively owned 84.6 per cent of the company which is up from the 82.9 per cent in December 2024.