Scotia adds new security features with faceless cards

 


Scotia Group indicates that Scotiabank has begun issuing bank cards made from 85 recycled plastic and has introduced a new design with fresh security features including the removal of all personal information from the front of the card.

The banking division for the first quarter ended January 31, saw deposits increase by $34.4 billion or 7.5 per cent versus the corresponding period last year.

Total loans increased from $275.7 billion to $312.5 billion representing an increase of 13.3 per cent. This includes a 12 per cent increase in Scotia Plan personal banking loans and a 24 per cent increase in mortgage loans. Commercial loans also increased by 5 per cent over the prior year period.

Scotia Group overall reported net income of $4.2 billion for the quarter ended January 31, 2025, representing an increase of $1.1 billion or 34.5 per cent over the comparative prior period. The Group’s asset base grew by $73.3 billion or 11 per cent to $739.2 billion as at January 2025.

Directors approved a dividend of 45 cents per stock unit in respect of the first quarter, which is payable on April 17, 2025, to stockholders on record as at March 26, 2025.

Net Insurance Revenues at Scotia Insurance increased by $504 million or 96 per cent year over year and Gross Written Premiums grew by 5 per cent.

Sales at the general insurance business, Scotia Protect, increased by 53 per cent while Gross written Premiums increased by 71 per cent when compared to the previous period.

Scotia Investments reported Assets Under Management, which increased by 13.3 per cent over the comparative period.

Caribbean Money Daily

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