JN Bank UK, Britain’s first Caribbean-owned bank- a subsidiary of The Jamaica National Group- has won the British Bank Award for the Best Personal Loan Provider for 2022.

The ceremony was held in London recently.

The bank was officially opened in October 2020, following regulatory approval on December 12, 2019. The approval was granted without the requirement for a period of authorisation, which it said is evidence of its strong application submitted to the Prudential Regulatory Authority for the establishment of the bank.

CEO Earl Jarrett noted in a press release that Jamaica National Group decided to set up a bank in the UK in response to a decision by several international banks to de-risk their operations by removing persons from the Caribbean from their business clients.

“The withdrawal of banking services from clients in Jamaica and the wider Caribbean had a significant impact on businesses and personal citizens, included pensioners and investors, who had established a financial presence in the UK and the Caribbean. The bank’s performance in the UK is commendable as the entity was launched during the midst of the COVID-19 pandemic in the UK,” he said.

JN Bank UK caters to the wider UK market. Its services have been rated highly on a consistent basis by consumers who gave the bank a score of 4.8 out of five in July 2021 on the consumer review platform Trust Pilot, according to the release.

Currently, JN Bank UK serves approximately 10,300 persons with savings and loan products, the bank said.

It added that the award and performance reflect the deep involvement of the Board of Directors, chaired by Ian Marshall, and the management team, led by JN Bank UK CEO, Dean Fensome and Paulette Simpson.