Our Annual General Meeting was held on July 31, 2014 to discuss the Group’s performance in 2013 and the plans for 2014. For Members who missed it, here are a quick summary and some photos:
Despite the challenges of our nation’s economy in 2013, the Victoria Mutual Group’s surplus, after taxes, came in at J$960 million; with income boosted by the acquisition of Prime Pensions Limited.
And we’re looking forward to an even more successful future, “The Group will continue to place emphasis on growing the business,” said Chairman McMorris. “Internally, 2014 will see the continuation of a number of projects and initiatives geared towards improving efficiency and service delivery throughout the Group.”
Our goal is to maintain mortgage rates among the lowest in the nation, as well as continued #NoOrLowFees for our Members, by reducing administrative costs. We also have plans to expand the services of VM Money Transfer Services Limited, both locally and overseas, as well as those of VM Wealth Management Limited, which has new products and more locations on the horizon, as well as customizable investment portfolios for our clients.
“Significant rewards are already being realized from the projects that have already been rolled out and, as others are executed, further benefits are expected to follow.” These expansion plans should drive revenue growth in 2014 and beyond, for our Mutual and all of its Members.