RATING ACTION:
On June 18, 2026, CariCRIS reaffirmed the Issuer/Corporate Credit ratings assigned to Development Bank of Jamaica Limited at CariA- (Foreign Currency Rating) and CariA (Local Currency Rating) on the regional scale and jmAA- (Foreign Currency Rating) and jmAA (Local Currency Rating on the Jamaica national scale. A stable outlook was assigned.
RATING SENSITIVITY FACTORS:
Factors that could, individually or collectively, lead to an improvement in the ratings and/or outlook include:
- An uplift in the creditworthiness of Jamaica, where DBJ derives 100% of its revenue
- Improving business conditions over the next 12-15 months, thereby leading to growth in client base and sustained earnings growth as evidenced by PBT margin of 15% or more and/or PAT margin of 30% or more.
Factors that could, individually or collectively, lead to a lowering of the ratings and/or outlook include:
- A reduction in funding by more than 25% over the next 12 to 15 months
- Interest rate spread falls by more than 150 basis points (bps) over the next 12 to 15 months
- CAR falls below the Bank’s internal minimum requirement of 20%
- A lowering of the creditworthiness of Jamaica
Analysts’ Contact Info:
Anelia Oudit
Tel: 1-868-487-8364
E-mail: aoudit@caricris.com
Kyla Balwant
Tel: 1-868-682-9919
E-mail: kbalwant@caricris.com
Disclaimer: 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’ 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.