[LONDON, England] – JN Bank UK, the first British-owned bank in the Caribbean – a subsidiary of the Jamaica National Group has won the British Bank Award for Best Personal Loan Provider for 2022.
The ceremony took place in London recently (May 5, 2022).
The bank was officially opened in October 2020, following regulatory approval on December 12, 2019. The approval was granted without a license period requirement. This is proof of the strong demand filed with the Prudential Regulation Authority for the creation of the bank. CEO Earl Jarrett noted that The Jamaica National Group decided to establish a bank in the UK in response to a decision by several international banks. Including the decision to reduce the risks of their operations by removing the Caribbean people from their business customers.
“The withdrawal of banking services from customers in Jamaica and the wider Caribbean has had a significant impact on businesses and individuals. Including retirees and investors, who had established a financial presence in the UK and the Caribbean. The Bank’s performance in the UK is commendable. Moreover, as the entity was launched amid the COVID-19 pandemic in the UK.
JN Bank UK caters to the whole UK market and has built a reputation for providing a high quality service. His services have been consistently well rated by consumers. These consumers gave the bank a score of 4.8 out of five in July 2021 on the Trust Pilot consumer review platform. Currently, JN Bank UK serves approximately 10,300 people with savings and credit products.
The award and performance reflect the deep commitment of the Board of Directors, chaired by Ian Marshall, and the management team, led by JN Bank UK CEO Dean Fensome and Paulette Simpson.
The JN Group is proud of the achievements of UK Bank. Further, looking forward to our continued growth and development as we pursue our mission to serve UK, Caribbean and Diaspora citizens in the UK.