VM Group tops 2020 ratings in Financial Times 'Banker' publicationWednesday, October 13, 2021
Victoria Mutual (VM) Group has received high marks from The Banker, a Financial Times publication out of the United Kingdom which has ranked the entity as the overall second-highest performer among financial institutions in the region last year.
The financial paper in its assessment ranked the VM Group high among all other mutual organisations outside of Sogebank in Haiti, which was rated as the overall top performer. A breakdown of the assessments saw VM being ranked second in the areas of profitability, growth, and operational efficiency and third in soundness.
This ranking from The Banker comes on the heel of the VM Group being recently named for the third consecutive year as the best financial advisory team in the Caribbean by respected UK business publication Capital Finance International ( CFI.co).
CFI.co, in its assessment, commended the group for being able to “remain cool under pressure” while being consistently dedicated to providing life-improving financial education and being an employer of choice.
“This assessment and recognition by The Banker serves as great encouragement for the VM team. We have been working with purpose and commitment, laying the foundation for what we know will be even greater things to come. We are pleased with how far we have come and are excited about the future,” commented Courtney Campbell, president and CEO of the VM Group.
“We happily accept the commendations from these respected business experts and will use their positive assessments to fuel us as we press on to transform more lives,” he added.
The VM Group is a network of financial and other services which comprises member companies — Victoria Mutual Building Society (VMBS), VM Wealth Management, VM Property Services, VM Money Transfer Services, Prime Asset Management, and strategic partner British Caribbean Insurance Company (BCIC). Together the entities offer a suite of services ranging from savings and deposit, loan, pension fund managements, insurance among others.
For its 2020 financial year, the group recorded a net surplus of $2.64 billion, a performance cited among the best in the history of the financial services entity. This, as its business segments contributed positively to overall group performance, despite the impact of the novel coronavirus pandemic.