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Financial News

Aug 2022 Financial News

JMMB Group Limited - Acquisition of Banco Multiple Bell Bank SA

Aug 05, 2022

The Trinidad and Tobago Stock Exchange Limited (TTSE) received notice from JMMBGL advising that JMMB Holding Company, SRL and its parent JMMBGL have received final regulatory approval for the purchase of 100% of the shares in Banco Multiple Bell Bank S.A. in Dominican Republic, as well as to merge said entity with Banco Ahorro y Credito, JMMB Bank S.A. on July 28, 2022.

According to the approval granted by the Monetary Board of the Dominican Republic, the merger and integration of both banking entities shall happen in a six month period starting July 28, 2022, or upon operational readiness.
 

Source:
The Trinidad and Tobago Stock Exchange Limited
Friday 5th August, 2022