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Saturday, 10 September 2022 15:18

Scotia Group reports improved financials

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Financial company Scotia Group Jamaica saw another quarter of improved financial results.
Post tax earnings for the three months amounted to $4 billion compared with $2.8 billion for the same period last year.
 
Scotia's President and CEO Audrey Tugwell Henry says the results positively impacted the group's nine-month profit.
 
Its net profit was $8.4 billion for the nine months ended July. 
 
Mrs Tugwell Henry said this represents a 15 per cent year-over-year increase in the company's net profit and a 55.1 per cent increase over the second quarter. 
 
Scotia's income also improved, amounting to $11.5 billion.
 
For the same period last year, the company made $9.6 billion.
 
The improved performance was driven by higher transaction volumes and an increase in the company's loan and mortgage book.
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