JMMB Bank auctioning 73 cars

JMMB Bank wants to sell 73 repossessed cars valued at $250 million, the second publicised auction in a month from the banking sector.The inventory ranges from a $370,000 Mitsubishi to a $15 million Porsche."There is nothing unusual about the listing contained in the stated newspaper advertisement," said JMMB chief marketing officer Kerry-Ann Stimpson in response to Financial Gleaner queries. She declined to speculate on whether the repossessions reflected a fallout from Hurricane Melissa or individual consumer stress.

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