Context: How Jamaica Stock Exchange works, and what it makes issuers disclose · Jamaica on the LatAm Power Map
Dolla Financial gives loans in minutes to people and small businesses that banks routinely turn away — and it has turned that simple promise into one of Jamaica’s fastest-growing listed companies, disbursing over nine billion Jamaican dollars in loans since it opened its doors.
| Full name | Dolla Financial Services Limited |
| Ticker / exchange | DOLLA — Junior Market, Jamaica Stock Exchange (JSE) |
| Headquarters | Kingston, Jamaica |
| Sector | Microcredit / consumer & business lending |
| Employees | ~125 (estimated) |
| Market value (market cap) | J$6.50 bn (~US$41.5 m) at J$2.60/share × 2.5 bn shares (our calculation) |
| Yearly sales (total interest income, FY2024) | J$1.52 bn (~US$9.7 m) |
| Net profit (FY2024) | J$410.6 m (~US$2.62 m) |
| Net margin (FY2024) | ~27.0% (our calculation: net profit ÷ total interest income) |
| Return on equity (FY2024) | ~39% (our calculation; Simply Wall St independently reports ~41%) |
| Price-to-earnings (trailing) | ~15.8× (our calculation) |
| Dividend yield (trailing) | ~1.8% |
| Website | dollafinancial.com |
What it is
Dolla began in 2014 offering currency exchange and remittance services, then in 2016 made a strategic shift to focus exclusively on microfinancing — extending credit to individuals and businesses that most banks overlook. It is regulated under Jamaica’s Microcredit Act 2021 and supervised directly by the Bank of Jamaica.
The company offers short-term loans, operating through its Jamaican lending arm, a Guyana subsidiary, and a premium secured-lending unit called Ultra Financier Limited. Ultra targets high-net-worth borrowers, lending between J$1 million and J$100 million against luxury assets — watches, property, investments — as collateral.
Who owns it
The current shareholding structure includes Widebase Limited at 21%, Dequity Capital Management at 20%, Supreme Ventures Limited at 15%, Mayberry Investments at 12%, and other shareholders comprising 32%. Widebase is wholly owned by Mayberry Group Limited, making Mayberry the single most influential force in the register at 21%, a stake it is seeking Bank of Jamaica approval to hold.
Mayberry Group collectively owned 33.3% of Dolla at end-March 2026 once its subsidiary Mayberry Jamaican Equities lifted its own slice to 12.3%. Dolla listed on the JSE Junior Market in June 2022 following an oversubscribed IPO.
Who runs it
Kenroy Kerr is CEO, overseeing day-to-day operations; he joined Dolla in 2018 from the Bank of Nova Scotia and built his way up through Head of Credit and Risk before reaching the top role. He has served as CEO since October 2023, having been interim from August of that year.
Trevene McKenzie serves as Chief Financial Officer. Walter Scott K.C.
was appointed Chairman of the Board effective November 15, 2024, with Ryan Reid — who had previously chaired the board — transitioning to Vice-Chairman on the same date.
The money, in plain words
For the full year ended December 31, 2024, Dolla earned total interest income of J$1.52 billion (~US$9.7 m) — up 53% from J$992 m in 2023 (our calculation from prior-year figures). Net profit for the year was J$410.6 million (~US$2.62 m), giving a net margin of about 27 cents from every dollar of interest earned — a net profit margin of ~27.0% (our calculation), robust for a small-loan lender carrying funding costs.
For every dollar of shareholders’ money invested in the business, it returned roughly 39 cents in annual profit — a return on equity of ~39% (our calculation), which is exceptional by any measure. Dolla has grown earnings at an average annual rate of 41% over five years, well above the 17% average for Jamaica’s diversified financial industry, while revenues have compounded at about 40% per year.
What it is doing now
Dolla is awaiting Bank of Jamaica approval to acquire the loan book of Supreme Ventures subsidiary Evolve Loan Co Limited — a deal CEO Kenroy Kerr says “meaningfully expands our microcredit footprint and reinforces our commitment to inclusive financing.” The company has also completed the wind-down of its Guyana loan business.
By year-end 2025, Dolla’s total assets had grown to J$5.30 billion (~US$33.8 m), with the asset base expanding further to J$6 billion by March 2026. Full-year 2025 net profit reached J$618.4 million (~US$3.95 m), a 51% jump on the 2024 figure.
What to watch
- Evolve Loan Co acquisition: regulatory clearance from the Bank of Jamaica will determine whether Dolla’s loan book gets its next significant step-change in scale.
- Credit quality: Stage 2 (underperforming) loans more than doubled and Stage 3 (non-performing) loans rose 70% in 2025, a sign that rapid growth is stretching the book — the key risk to watch.
- Mayberry’s growing grip: Mayberry Group’s collective 33.3% stake is now large enough to shape strategy; any move toward majority control would require BOJ sign-off and could reprice the stock.
- Margins: return on equity of ~41% and net margins of ~39% (on a trailing basis) are high, but the Evolve integration and rising credit-loss provisions could compress them through 2026.
Sources
- Dolla Financial Services — About Us / Investor Relations (company primary site)
- Dolla Financial Services — 2024 Annual Report page (company primary site)
- Jamaica Stock Exchange — DOLLA 2024 Annual Report filing
- Jamaica Stock Exchange — DOLLA Board Changes announcement, November 2024
- Mayberry Investments Research — DOLLA FY2025 results note (contains audited FY2024 comparative figures)
- Jamaica Observer — “Dequity sells Dolla stake for $1 billion,” June 2026
- Jamaica Gleaner — “Widebase now the largest shareholder in Dolla Financial,” June 2025
- Jamaica Observer — “Kerr assumes position as interim CEO of Dolla,” July 2023
- Market data: EODHD.
This is news, not investment advice.
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