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JN Money takes more territory in the United States Wednesday, July 14, 2021
JN Money has opened its 46th client location in Florida, United States, with plans to open more locations. The JN Money brand is owned by JN Money Services Limited (JNMS), which is a fully owned subsidiary of the JN Financial Group which manages its money transfers and bill payments.
The company indicates it will be opening branches in Atlanta, Georgia, and in the Bronx, New York, within the next three months. In the United States it provides services through 10 branches and 45 agent locations in New ....
Earl Jarrett, CEO of JN Group. The JN Group experienced a very significant increase in loans and deposits during the financial year ending March 2020. Deposits increased by approximately $10.4 billion to $139.8 billion, while its loan portfolio rose 13.6 per cent during the financial year to $110.8 billion. The company attributed the increase in the loan portfolio to significant growth in mortgages, personal loans and auto loans, driven by its commercial banking arm, JN Bank, which experienced a close to 15 per cent growth in loans from $89.6 billion to 102.9 billion. “That’s accounted for by the fact that the bank sought to expand its loan portfolio and balance the loan portfolio to reduce the concentration on mortgages by offering other loans, and they have also been very clever with some of the products that they have put on the market, which was attractive to persons and they targeted many persons who were underserved in the existing banks,” chief exec ....