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Financial News

Oct 2013 Financial News

JMMB - Acquisition of Intercommercial Bank Limited and Intercommercial Trust and Merchant Bank

Oct 09, 2013

Jamaica Money Market Brokers Limited has informed the Stock Exchange that Jamaica Money Market Brokers Limited through Jamaica Money Market Brokers (Trinidad and Tobago) Limited (their Trinidadian holding company) has obtained 100% ownership of Intercommercial Bank Limited and Intercommercial Trust & Merchant Bank Limited (IBL Group), having concluded the transaction to acquire the remaining 50% shareholding in those entities on October 3, 2013; making it JMMB’s very first commercial bank.

JMMB acquired its initial 50% holding in IBL, in 2005.


Source:
The Trinidad and Tobago Stock Exchange Limited
Wednesday October 9, 2013