VM Investments planning beyond challenges

VM Investments Ltd (VMIL) reported that challenges in Jamaica's capital markets persist, even as the securities dealer executed more than $8.6 billion in transactions.

"It was not an easy year," CEO Rezworth Burchenson told shareholders at the company's 9th annual general meeting last Thursday. "Economic growth was largely flat, the average Jamaican public equity stock declined by close to 15 per cent, Treasury bill yields continued to decline, and we saw volatility across both bond and equity markets. Despite those conditions, we continued to execute on our strategy."

Those pressures carried into 2026. In the March quarter, net profit grew to $70 million from a loss in the previous year. However, a $480.3-million markdown on the fair value of its investment securities wiped out those gains at the total comprehensive level, leaving shareholders with a comprehensive loss for the quarter.

Looking ahead, Burchenson said the company remains focused on profitable growth, operational efficiency, digital transformation and regional expansion.

"Asset management remains a key focus. Segmentation remains a key focus. Digital transformation remains a key focus," he said. "Barbados remains our hub for regional expansion and the Eastern Caribbean remains the next phase of growth."

He added that the company is preparing to leverage artificial intelligence to enhance client service, operational efficiency and decision-making.

VMIL's capital markets business executed “12 transactions” during the year valued at approximately “$8.68 billion in aggregate”, while its Global Markets and Digital Assets Trading unit facilitated a major equity transaction worth approximately $2.14 billion.  

Regionally, VMIL secured an investment adviser licence in Barbados, a milestone in its Eastern Caribbean expansion strategy. 

For the year ended December 2025, VMIL reported revenue of $2.36 billion and net profit of $165.9 million, or 70 per cent lower than the $555.7 million a year earlier. Total assets rose 15.1 per cent to $35.06 billion, investment securities grew 27.1 per cent to $24.74 billion, and assets under management reached $125.85 billion. The company maintained a capital adequacy ratio of 15.1 per cent, above the regulatory minimum of 10 per cent.

"Trust is built on promises kept," Burchenson said. "While 2025 presented significant challenges across financial markets, we remained focused on execution. We strengthened the balance sheet, delivered growth in our core businesses and advanced the strategic priorities we committed to shareholders."

business@gleanerjm.com