Best bank: Scotiabank
Scotiabank delivered the highest earnings in its history in 2025, with net income up 6% year-on-year at TTD696 million ($102 million). Improvements to the bank’s digital capabilities, relationship management and merchant payments were key to this success.
By the end of the 2025 financial year, 74% of clients were enrolled on digital platforms, with branch transactions falling to just 2.4% of total activity. The Scotia Caribbean app and Scotia OnLine provide a broad feature set, including biometric login, Scotia SelectPay instalment conversion, digital insurance purchase, digital deposit onboarding for new clients, and digital credit onboarding for existing clients.
In 2025, the bank added further functionality, including foreign currency limit and balance visibility, credit and debit card lock/unlock, wealth account visibility, one-time password via SMS, and enhanced online credit card dispute submission. These improvements have helped make digital channels a core service and sales platform.
Scotiabank has combined digital migration with relationship-led banking rather than replacing personal support entirely. Its model assigns personal bankers and relationship officers across retail and commercial segments, creating a single point of contact and improving issue resolution.
The Digital Collaboration Tool reinforces this model by allowing assigned clients to chat, call, or video-call their banking, insurance and investment advisers securely through Scotia OnLine or the Scotia Caribbean App. This relationship focus is visible in client experience outcomes: the net promoter score for the Priority segment reached 70% NPS in October 2025.
On the corporate and SME side, Scotiabank’s strongest digital differentiator is its proprietary payment gateway, Scotia eCOM+. Scotiabank is the only local bank that has invested in and developed its own gateway solution, allowing merchants to integrate payment acceptance directly into their websites and accept payments from customers globally.
The bank’s Virtual Terminal solution is also important for businesses without a physical storefront, including home-based entrepreneurs, mobile service providers and remote operators. It allows secure card-not-present processing through an online portal, removing the need for a physical card reader. Together, these platforms broaden digital commerce access for businesses of different sizes and operating models.
