Jamaican banks profits crash 19.2 per cent
Funding costs, cyber risks squeeze margins
JAMAICAN lenders face intensifying margin pressure as stubbornly high funding costs and falling investment returns drove a 19.2 per cent plunge in pre-tax profits for 2024, according to the Bank of Jamaica’s Financial Stability Report 2024 published recently.
The central bank cautioned that while deposit-taking institutions (DTIs) "remained well capitalised with adequate liquidity," their ability to navigate emerging risks requires vigilance.
Profit Squeeze Deepens
DTIs’ pre-tax profits fell t...
