JMMB Group Limited (JMMBGL) announces the Acquisition of Banco Múltiple Bell Bank SA

JMMB Holding Company, SRL and its parent JMMB Group Limited  have received final regulatory approval for the  purchase of 100% of the shares in Banco Múltiple Bell Bank, S.A. in the Dominican Republic as well as to merge said entity with  Banco Ahorro y Crédito, JMMB Bank, SA on July 28, 2022 .  This is a significant milestones for the JMMB Group, as this will be our first commercial bank in the Dominican Republic.

The JMMB DR Group currently includes the brokerage house, JMMB Puesto de Bolsa SA, a fund manager company, JMMB Funds and a pension fund administrator company AFP JMMB BDI, S.A.

This acquisition and merger complements our regional diversification strategy as we seek to more effectively fulfill the financial needs of the local market in the Dominican Republic.