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Best bank: Scotiabank Jamaica |
Scotiabank Jamaica has actively pushed its small business banking unit, launched in May 2007. Four products have now been introduced – two credit cards, a non-revolving loan and a credit line for small businesses. As of March 2008 a total of 3,172 credit cards from across the banks’ businesses were in circulation.
Across the retail bank, an increase in gross profitability of 8.8% was realized between January 2007 and 2008, with an increase in total assets of 25.1% to $3.8 billion.
In April 2008, Scotiabank Jamaica launched Scotia DBG Investments Limited (formerly Dehring Bunting and Golding), a newly merged business that aims to strengthen the investment capabilities of the bank.