JMMB To Acquire Remaining 50% of T&T Bank

Jamaica Money Market Brokers (JMMB) is in the process of closing a deal to increase its share ownership giving it full control of the Intercommercial Bank Limited (IBL), a small commercial bank in Trinidad and Tobago.

JMMB currently owns 50 per cent of the shares of the IBL Group, which comprises the Intercommercial Bank and the Intercommercial Trust and Merchant Bank Limited. The other 50 per cent is owned by the Mittal Group.