Scotiabank’s Caribbean operations delivered exceptional financial growth, market‑leading credit expansion and cutting‑edge digital transformation.
In Jamaica, Scotiabank has demonstrated robust topline growth and strategic innovation over the review period. The bank recorded a net profit of J$20.2 billion ($126 million) – a 17% increase year-on-year – fuelled by a 16% expansion in its loan portfolio, including a 27% rise in residential mortgages and a 12% uptick in commercial lending. This surge not only boosted credit market activity but also drove a notable improvement in efficiency, as the cost-to-income ratio fell from 52.06%
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