{"id":2904,"date":"2021-07-01T21:06:11","date_gmt":"2021-07-02T01:06:11","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=2904"},"modified":"2025-07-01T21:06:52","modified_gmt":"2025-07-02T01:06:52","slug":"development-bank-of-jamaica-limited-7","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/development-bank-of-jamaica-limited-7\/","title":{"rendered":"Development Bank of Jamaica Limited"},"content":{"rendered":"<h2>RATING DRIVERS<\/h2>\n<p class=\"badge\">Supporting Factors<\/p>\n<ul style=\"list-style-type: square;\">\n<li><span style=\"font-size: 9.5pt; line-height: 120%; font-family: 'Book Antiqua', serif;\">Strategic importance to the Government of Jamaica in the divestment of state assets and the allocation of capital to strategic investments<\/span><\/li>\n<li><span style=\"font-size: 9.5pt; line-height: 120%; font-family: 'Book Antiqua', serif;\">Strong capital base supported by healthy capital adequacy ratio and good liquidity metrics<\/span><\/li>\n<li><span style=\"font-size: 9.5pt; line-height: 120%; font-family: 'Book Antiqua', serif;\">Sound risk management framework supports strategic planning and business processes<\/span><\/li>\n<li><span style=\"font-size: 9.5pt; line-height: 120%; font-family: 'Book Antiqua', serif;\">Comfortable financial performance as evidenced by continued profitability and asset growth albeit at lower levels<\/span><\/li>\n<\/ul>\n<p class=\"badge\">\u00a0Constraining Factors<\/p>\n<ul style=\"list-style-type: square;\">\n<li><span style=\"font-size: 9.5pt; font-family: 'Book Antiqua', serif;\">High sovereign risk exposure with an elevated level of economic uncertainty<\/span><\/li>\n<\/ul>\n<p class=\"badge\">Rating Sensitivity Factors:<\/p>\n<p style=\"margin-bottom: 0cm; line-height: 120%;\"><b><span style=\"text-decoration: underline;\"><span style=\"font-size: 9.5pt; line-height: 120%; font-family: 'Book Antiqua', serif;\">Factors that could, individually, or collectively lead to an improvement in the ratings and \/or outlook include:<\/span><\/span><\/b><\/p>\n<ul style=\"list-style-type: square;\">\n<li><span style=\"font-size: 9.5pt; line-height: 120%; font-family: 'Book Antiqua', serif;\">An uplift in the creditworthiness of Jamaica, where DBJ derives 100% of its revenue, with an attendant improvement in business prospects for DBJ as well as improved profitability and loan portfolio quality<\/span><\/li>\n<li><span style=\"font-size: 9.5pt; line-height: 120%; font-family: 'Book Antiqua', serif;\">Increase in ROA in excess of 3.5%, sustained over a 3-year period<\/span><\/li>\n<\/ul>\n<p style=\"margin-bottom: 0cm; line-height: 120%;\"><b><span style=\"text-decoration: underline;\"><span style=\"font-size: 9.5pt; line-height: 120%; font-family: 'Book Antiqua', serif;\">Factors that could, individually, or collectively lead to a lowering of the ratings\/or outlook include:<\/span><\/span><\/b><\/p>\n<ul style=\"list-style-type: square;\">\n<li><span style=\"font-size: 9.5pt; line-height: 120%; font-family: 'Book Antiqua', serif;\">A reduction in funding by more than 25% <\/span><\/li>\n<li><span style=\"font-size: 9.5pt; line-height: 120%; font-family: 'Book Antiqua', serif;\">Interest rate spread falls by more than 150bps<\/span><\/li>\n<li><span style=\"font-size: 9.5pt; line-height: 115%; font-family: 'Book Antiqua', serif;\">A lowering of the creditworthiness of Jamaica<\/span><\/li>\n<\/ul>\n<div style=\"border-color: currentcolor currentcolor windowtext; border-style: none none solid; border-width: medium medium 1pt; padding: 0cm 0cm 1pt;\">\n<p style=\"text-align: justify; line-height: 120%; padding: 0cm;\"><b><span style=\"font-family: 'Book Antiqua', serif;\">COMPANY BACKGROUND<\/span><\/b><\/p>\n<\/div>\n<p style=\"margin-bottom: 0cm; text-align: justify; line-height: 120%;\"><span style=\"line-height: 120%; font-family: 'Book Antiqua', serif;\">Development Bank of Jamaica Limited (DBJ) is a limited liability company domiciled in Jamaica and 100% owned by the Government of Jamaica (GOJ). It was formed on April 1, 2000, from the merger of the operations and selected assets and liabilities of the National Development Bank of Jamaica Limited and the Agricultural Credit Bank of Jamaica Limited. DBJ expanded further on September 1, 2006, when it took over the operations and selected assets and liabilities of the National Investment Bank of Jamaica Limited. DBJ has a 50% shareholding in Harmonization Limited, a property development company. <\/span><\/p>\n<p style=\"margin-bottom: 0cm; text-align: justify; line-height: 120%;\"><span style=\"font-family: 'Book Antiqua', serif;\">DBJ\u2019s <\/span><span style=\"font-family: 'Book Antiqua', serif;\">mandate is to facilitate economic growth and development in Jamaica by providing:<\/span><\/p>\n<ul style=\"list-style-type: square;\">\n<li><span style=\"line-height: 120%; font-family: 'Book Antiqua', serif;\">Appropriate medium and long-term developmental financing solutions, particularly to micro, small and medium-sized enterprises through alliances with Approved Financial Institutions (AFIs) and Micro Finance Institutions (MFIs)<\/span><\/li>\n<li><span style=\"line-height: 120%; font-family: 'Book Antiqua', serif;\">Direct lending to strategic projects identified for their economic growth potential<\/span><\/li>\n<li><span style=\"line-height: 120%; font-family: 'Book Antiqua', serif;\">Management oversight of the Government\u2019s Privatization and Public-Private Partnerships Programme and transactions<\/span><\/li>\n<li><span style=\"line-height: 120%; font-family: 'Book Antiqua', serif;\">An ecosystem conducive to venture capital as well as serving as an anchor investor in venture capital funds that operate in Jamaica.<\/span><\/li>\n<\/ul>\n<p style=\"margin-bottom: 0cm; text-align: justify; line-height: 120%;\">\n<p style=\"margin-bottom: 0cm; line-height: 150%;\"><i><span style=\"font-size: 10pt; line-height: 150%; font-family: 'Book Antiqua', serif;\">Analytical Contacts:<\/span><\/i><\/p>\n<p><span style=\"font-family: 'Book Antiqua', serif; color: black;\">Nadia Sanchez<\/span><\/p>\n<p style=\"margin-bottom: 0cm; line-height: normal;\"><i><span style=\"font-size: 8pt; font-family: 'Book Antiqua', serif;\">Tel: 1-868-627-8879 Ext. 229<\/span><\/i><\/p>\n<p style=\"margin-bottom: 0cm; line-height: normal;\"><i><span style=\"font-size: 7.5pt; font-family: 'Book Antiqua', serif;\">E-mail: <a href=\"mailto:nsanchez@caricris.com\">nsanchez@caricris.com<\/a><\/span><\/i><\/p>\n<p><span style=\"font-family: 'Book Antiqua', serif; color: black;\">Anelia Oudit<\/span><\/p>\n<p style=\"margin-bottom: 0cm; line-height: normal;\"><i><span style=\"font-size: 8pt; font-family: 'Book Antiqua', serif;\">Tel: 1-868-627-8879 Ext. 226<\/span><\/i><\/p>\n<p style=\"margin-bottom: 0cm; line-height: normal;\"><i><span style=\"font-size: 8pt; font-family: 'Book Antiqua', serif;\">Mobile: 1-868-487-8364<\/span><\/i><\/p>\n<p style=\"margin-bottom: 0cm; line-height: normal;\"><i><span style=\"font-size: 7.5pt; font-family: 'Book Antiqua', serif;\">E-mail: <\/span><\/i><a href=\"mailto:aoudit@caricris.com\"><i><span style=\"font-size: 7.5pt; font-family: 'Book Antiqua', serif;\">aoudit@caricris.com<\/span><\/i><\/a><i><\/i><\/p>\n<p style=\"margin-bottom: 0cm; line-height: normal;\"><span style=\"font-size: 8pt; font-family: 'Book Antiqua', serif;\">Website: <\/span><a href=\"http:\/\/www.caricris.com\"><span style=\"font-size: 8pt; font-family: 'Book Antiqua', serif;\">www.caricris.com<\/span><\/a><\/p>\n<p style=\"margin-bottom: 0cm; line-height: normal;\"><span style=\"font-size: 8pt; font-family: 'Book Antiqua', serif;\">Email: <a href=\"mailto:info@caricris.com\">info@caricris.com<\/a><\/span><\/p>\n<p style=\"text-align: justify;\"><b><span style=\"font-size: 8pt; line-height: 115%; font-family: 'Book Antiqua', serif;\">Disclaimer<\/span><\/b><b><span style=\"font-size: 8pt; line-height: 115%; font-family: 'Book Antiqua', serif;\">:<\/span><\/b><span style=\"font-size: 8pt; line-height: 115%; font-family: 'Book Antiqua', serif;\"> CariCRIS has taken due care and caution in compilation of data for this product. Information has been obtained by CariCRIS from sources which it considers reliable. However, CariCRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. No part of this report may be published \/ reproduced in any form without CariCRIS\u2019 prior written approval. CariCRIS is also not responsible for any errors in transmission and especially states that it has no financial liability whatsoever to the subscribers\/ users\/ transmitters\/ distributors of this product.<\/span><\/p>\n<p style=\"margin-bottom: 0cm; text-align: center; line-height: 150%;\">\n<p style=\"margin-bottom: 0cm; text-align: justify; line-height: 120%;\">\n<p style=\"margin-bottom: 0cm; line-height: normal;\">\n","protected":false},"excerpt":{"rendered":"<p>RATING DRIVERS Supporting Factors Strategic importance to the Government of Jamaica in the divestment of state assets and the allocation of capital to strategic investments Strong capital base supported by healthy capital adequacy ratio and good liquidity metrics Sound risk management framework supports strategic planning and business processes Comfortable financial performance as evidenced by continued [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46],"tags":[],"table_tags":[],"class_list":["post-2904","post","type-post","status-publish","format-standard","hentry","category-rating-releases"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Development Bank of Jamaica Limited - CariCRIS<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/development-bank-of-jamaica-limited-7\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Development Bank of Jamaica Limited - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"RATING DRIVERS Supporting Factors Strategic importance to the Government of Jamaica in the divestment of state assets and the allocation of capital to strategic investments Strong capital base supported by healthy capital adequacy ratio and good liquidity metrics Sound risk management framework supports strategic planning and business processes Comfortable financial performance as evidenced by continued [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/development-bank-of-jamaica-limited-7\/\" \/>\n<meta property=\"og:site_name\" content=\"CariCRIS\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-02T01:06:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-02T01:06:52+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/development-bank-of-jamaica-limited-7\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/development-bank-of-jamaica-limited-7\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/#\\\/schema\\\/person\\\/510bfdfe41fce6bedbec995f62a44967\"},\"headline\":\"Development Bank of Jamaica Limited\",\"datePublished\":\"2021-07-02T01:06:11+00:00\",\"dateModified\":\"2025-07-02T01:06:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/development-bank-of-jamaica-limited-7\\\/\"},\"wordCount\":500,\"commentCount\":0,\"articleSection\":[\"Rating Releases\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/development-bank-of-jamaica-limited-7\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/development-bank-of-jamaica-limited-7\\\/\",\"url\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/development-bank-of-jamaica-limited-7\\\/\",\"name\":\"Development Bank of Jamaica Limited - CariCRIS\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/#website\"},\"datePublished\":\"2021-07-02T01:06:11+00:00\",\"dateModified\":\"2025-07-02T01:06:52+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/#\\\/schema\\\/person\\\/510bfdfe41fce6bedbec995f62a44967\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/development-bank-of-jamaica-limited-7\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/development-bank-of-jamaica-limited-7\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/development-bank-of-jamaica-limited-7\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Development Bank of Jamaica Limited\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/#website\",\"url\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/\",\"name\":\"CariCRIS\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/#\\\/schema\\\/person\\\/510bfdfe41fce6bedbec995f62a44967\",\"name\":\"admin\",\"sameAs\":[\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\"],\"url\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Development Bank of Jamaica Limited - CariCRIS","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/development-bank-of-jamaica-limited-7\/","og_locale":"en_US","og_type":"article","og_title":"Development Bank of Jamaica Limited - CariCRIS","og_description":"RATING DRIVERS Supporting Factors Strategic importance to the Government of Jamaica in the divestment of state assets and the allocation of capital to strategic investments Strong capital base supported by healthy capital adequacy ratio and good liquidity metrics Sound risk management framework supports strategic planning and business processes Comfortable financial performance as evidenced by continued [&hellip;]","og_url":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/development-bank-of-jamaica-limited-7\/","og_site_name":"CariCRIS","article_published_time":"2021-07-02T01:06:11+00:00","article_modified_time":"2025-07-02T01:06:52+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/development-bank-of-jamaica-limited-7\/#article","isPartOf":{"@id":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/development-bank-of-jamaica-limited-7\/"},"author":{"name":"admin","@id":"https:\/\/craftedcaribbean.com\/caricris\/#\/schema\/person\/510bfdfe41fce6bedbec995f62a44967"},"headline":"Development Bank of Jamaica Limited","datePublished":"2021-07-02T01:06:11+00:00","dateModified":"2025-07-02T01:06:52+00:00","mainEntityOfPage":{"@id":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/development-bank-of-jamaica-limited-7\/"},"wordCount":500,"commentCount":0,"articleSection":["Rating Releases"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/development-bank-of-jamaica-limited-7\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/development-bank-of-jamaica-limited-7\/","url":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/development-bank-of-jamaica-limited-7\/","name":"Development Bank of Jamaica Limited - CariCRIS","isPartOf":{"@id":"https:\/\/craftedcaribbean.com\/caricris\/#website"},"datePublished":"2021-07-02T01:06:11+00:00","dateModified":"2025-07-02T01:06:52+00:00","author":{"@id":"https:\/\/craftedcaribbean.com\/caricris\/#\/schema\/person\/510bfdfe41fce6bedbec995f62a44967"},"breadcrumb":{"@id":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/development-bank-of-jamaica-limited-7\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/development-bank-of-jamaica-limited-7\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/development-bank-of-jamaica-limited-7\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/craftedcaribbean.com\/caricris\/"},{"@type":"ListItem","position":2,"name":"Development Bank of Jamaica Limited"}]},{"@type":"WebSite","@id":"https:\/\/craftedcaribbean.com\/caricris\/#website","url":"https:\/\/craftedcaribbean.com\/caricris\/","name":"CariCRIS","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/craftedcaribbean.com\/caricris\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/craftedcaribbean.com\/caricris\/#\/schema\/person\/510bfdfe41fce6bedbec995f62a44967","name":"admin","sameAs":["https:\/\/craftedcaribbean.com\/caricris"],"url":"https:\/\/craftedcaribbean.com\/caricris\/author\/admin\/"}]}},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/craftedcaribbean.com\/caricris\/wp-json\/wp\/v2\/posts\/2904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/craftedcaribbean.com\/caricris\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/craftedcaribbean.com\/caricris\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/craftedcaribbean.com\/caricris\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/craftedcaribbean.com\/caricris\/wp-json\/wp\/v2\/comments?post=2904"}],"version-history":[{"count":1,"href":"https:\/\/craftedcaribbean.com\/caricris\/wp-json\/wp\/v2\/posts\/2904\/revisions"}],"predecessor-version":[{"id":2906,"href":"https:\/\/craftedcaribbean.com\/caricris\/wp-json\/wp\/v2\/posts\/2904\/revisions\/2906"}],"wp:attachment":[{"href":"https:\/\/craftedcaribbean.com\/caricris\/wp-json\/wp\/v2\/media?parent=2904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/craftedcaribbean.com\/caricris\/wp-json\/wp\/v2\/categories?post=2904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/craftedcaribbean.com\/caricris\/wp-json\/wp\/v2\/tags?post=2904"},{"taxonomy":"table_tags","embeddable":true,"href":"https:\/\/craftedcaribbean.com\/caricris\/wp-json\/wp\/v2\/table_tags?post=2904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}