Net International Reserves – July 2017
Net International Reserves Jamaica’s Net International Reserves totaled US$2,736.35 million as at July 2017, reflecting an increase of US$119.54 million relative to the US$2,616.81 million reported as at the end of June 2017 (see figure 1). Changes in the NIR resulted from an increase in Foreign Assets of US$126.23 million to total US$3,311.88 million. Securities contributed the most to the growth in Foreign Assets. This as Securities as at July 2017 totaled US$230.95 million reflecting an increase of US$201.05 million compared to US$29.9 million booked as at June 2017. Current & Deposits amounted to US$2,802.84 million; US$78.05 million less than the
ISP reports a 116% increase in six month net profit
ISP Finance Services Limited (ISP) Results for the Six Months ended June 30, 2017: Total Interest Income for the period increased by 30% to $135.79 million compared to $104.40 million for the same period last year. For the quarter the company reported total interest income of $70.26 million relative to (2016: $51.98 million). Interest expenses increased 44% to $12.31 million from $8.56 million for the corresponding period of 2016. As a result, net interest income grew by 29% to $123.48 million (2016: $95.84 million). ISP reported total operating expenses of $104.65 million, a 19% increase when compared to $87.81 million
EPLEY reported a 25% decline in six months net profit
Interest Income for the period increased to $124.23 million from $92.43 million the previous year, a 34% increase. While for the second quarter interest income amounted to $61.69 million relative to $48.46 million in 2016. Interest Expenses amounted to $73.89 million, up 30% from $56.74 million for the corresponding period in 2016. Consequently, net interest income rose 41% to $50.34 million, up from $35.69 million in the corresponding period of 2016. Other operating income declined by 44% to total $22.77 million relative to $40.35 million in 2016. While administrative expenses increased by 20% to close at $42.64 million (2016:$35.57 million).