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CCMB History
Capital & Credit Merchant Bank (CCMB) began business in January 1994
with an asset base of J$30 million. It was then the smallest of 30 merchant
banks operating in Jamaica. Since its launch, CCMB has consistently posted
improved results, maintaining a record of being one of Jamaica’s most
profitable and fastest growing merchant banks.
At the end of 2006, the financial results of the Bank and
its subsidiaries (Capital & Credit Securities Ltd and Capital & Credit
Fund Managers Ltd.) reflected consolidated after-tax profits of J$771.88
million and J$55.45 billion in Assets Under Management.
Over its
thirteen years of operation,
the Bank's Shareholders’
Equity (based on asset and profitability growth and its retention strategy)
grew from J$21.47M at the start of operations in 1994 to J$5.46-billion at the
end of the financial year 2006.
In May 2003 Capital & Credit Merchant Bank became the
first merchant bank to be officially listed on the Jamaica Stock Exchange,
following its successful Initial Public Share offer. And, in October of the
same year CCMB achieved a historical milestone when it became the first
Jamaican merchant bank to be listed on the Trinidad and Tobago Stock Exchange.
In December 2003, CCMB opened its first full-service branch
in Montego Bay, Jamaica as part of its strategic expansion aimed at broadening
its customer service base, and deepening its customer service delivery
channels.
In 2004, the Capital & Credit Financial Group Ltd.
jointly with CCMB acquired the Jamaica Unit Trust which was subsequently
re-named Capital & Credit Fund Managers Ltd.
In October 2005,
CCMB held a
successful Rights
Issue which raised
over J$1 billion.
That success
signified another
milestone for
Capital & Credit
Merchant Bank - that
of being the first
listed company on
the Jamaica Stock
Exchange to have its
Rights traded and to
have raised over
over $1-billion
(J$1,072,938,800)
from it.
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