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Trinidad and Tobago’s Intercommercial Bank Rebrands to JMMB Bank

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Trinidad and Tobago’s Intercommercial Bank Limited (IBL Bank) has officially been renamed to JMMB Bank (T&T) Limited.

The announcement was made at a media briefing at the Bank’s head office in Chaguanas yesterday where the Bank’s branch locations now boast a new look and signage, reflecting the name change.

This rebranding exercise is part of the JMMB Group’s strategic positioning across the Caribbean region, following its 100% acquisition of IBL in 2013.

JMMB initially acquired 50% of IBL in 2004. That transaction placed the Bank under the management of the JMMB Group and in a better position to offer clients a wider range of banking solutions in Trinidad and Tobago.

This introduction of JMMB Bank completes JMMB’s branded presence in the country.

Bank Managing Director and CEO, Nigel Romano, says JMMB Bank is looking forward to providing a new way of banking to Trinbagonians.

He says the “team of banking experts will be a key part of the fulfilment of JMMB’s mandate of becoming the leading bank in the country, by partnering with clients in the achievement of their life goals”.

Romano says as a regional financial group of companies, with operations in Trinidad and Tobago, Jamaica and the Dominican Republic, the JMMB Group is perfectly poised to continue on its growth trajectory in T&T.

The CEO says he is excited about this new phase in the Bank’s history and the team’s eagerness to unearth and pass on the value of these new opportunities to its clients.

In reassuring its existing clients, Romano indicated that the bank will remain focused on what truly matters, “the financial health and happiness of all of our clients”.

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John Mahfood “I Listed on the JSE to Raise Capital for My Business”

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JSE Online Trading Platform

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Grace Stockholders To Vote On 3-for-1 Stock Split Today

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Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

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UK Loses S&P Triple A Rating

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The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

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Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

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Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.

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