Dolla Financial completes acquisition of Evolve loan portfolio in Jamaica

Dolla Financial Services Limited has successfully completed the acquisition of Evolve Loan Co Limited's lending portfolio, a strategic move that significantly expands its operations in Jamaica. The transaction, effective June 30, 2026, integrates approximately $700 million in loans and adds about 1,800 new customer relationships to Dolla's existing business.

This acquisition is a key component of Dolla's broader strategy to scale its operations, boost its earnings capacity, and solidify its presence within Jamaica's microfinance sector. The purchase price was determined based on the gross nominal value of the portfolio, adjusted for agreed-upon expected credit loss provisions. The deal also incorporates post-closing adjustments designed to offer downside protection and ensure the alignment of interests between both parties.

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This acquisition represents an important milestone for Dolla. It expands our customer base, strengthens our presence in the Jamaican market and reflects our disciplined approach to growth.

Dolla stated that the integration of the Evolve portfolio will bring it under Dolla's established governance, compliance, and risk management framework. Importantly, the terms of the customers' existing loan agreements will be preserved. Affected customers will be contacted directly with updated payment instructions and servicing arrangements.

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We have been deliberate in structuring a transaction that creates value for our shareholders while maintaining our focus on prudent risk management.

Kenroy Kerr, Chief Executive Officer of Dolla Financial Services Limited, described the acquisition as a significant milestone, reflecting the company's disciplined growth approach. "This acquisition represents an important milestone for Dolla. It expands our customer base, strengthens our presence in the Jamaican market and reflects our disciplined approach to growth," Kerr said. He emphasized that the transaction was structured to create shareholder value while maintaining a focus on prudent risk management.

Delroy Anderson, general manager of Evolve Loan Co Limited, viewed the transaction as a positive outcome for Evolve's customers and the business. "Dolla has established itself as a strong and responsible lender, and we are confident our customers will continue to receive excellent service while Evolve sharpens its strategic focus," Anderson commented. Dolla indicated that this deal further supports its growth agenda, building on years of portfolio expansion, improved financial performance, and ongoing investment in its operational platform. The company also noted that the acquisition reflects the ongoing development of Jamaica's microcredit industry, suggesting that consolidation among well-governed lenders can enhance consumer confidence and service standards.

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Dolla has established itself as a strong and responsible lender, and we are confident our customers will continue to receive excellent service while Evolve sharpens its strategic focus.