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Bank of Jamaica profits rising

The Bank of Jamaica (BOJ) profits continue to surge amassing $7.65 billion year-to-date.

The BOJ's latest published balance sheet for last month shows that its profits increased by $300 million over the one-month period February to March 2021 . In February, the year-to-date profit was $7.35 billion.

Based on this trajectory, the BOJ seems set to record another year of profits in 2021. Profits earned by the BOJ goes to the Government of Jamaica (GOJ) as per section 9 of the BOJ Act, which states that profits earned by the bank is due to the GOJ, while losses incurred by the bank is funded by the GOJ.
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