Loans and investments boost net income for Scotia

 



Scotia Group reports net income of $9.2 billion for the six months ended April 30, 2025, representing an increase of $665.6 million or 7.8 per cent over the prior year.

Net income for the quarter of $5 billion reflected an increase of $797.9 million or 19 per cent over the previous quarter.

The Group’s asset base grew by $87 billion or 12.9 per cent to $763.5 billion as at April 2025 supported by loan and investment portfolios.

 In furtherance of our objective to continue to return value to our shareholders, the Board of Directors has approved a dividend of 45 cents per stock unit in respect of the second quarter, which is payable on July 17, 2025, to stockholders on record as at June 25, 2025.

Commenting on the Group’s performance, Tugwell Henry said “Our Scotia Plan loan portfolio grew 14 per cent over the previous year and our mortgage portfolio grew by 24 pr cent over the same period.

“The Corporate and Commercial Banking unit continues to provide significant support to the business sector. While the uncertainties of the geo-political environment remain a concern, Scotiabank is uniquely positioned to help our clients by leveraging insights from our global bank to support them in navigating the challenges in the market.

“In Q2, our commercial loan book grew by 7 per cent per cent over the previous year. Scotia Investments Jamaica Limited delivered another commendable performance with Assets Under Management increasing by 12 per cent year over year.”

 Scotia Jamaica Life Insurance Company (SJLIC) reported an increase in net insurance business revenue of 76 per cent over the previous year driven by the performance of the portfolio.

Scotia General Insurance Agency (SGIA) also made strong contributions to the quarter’s results with Gross Written Premiums increasing by 64 per cent and policy sales increasing by 55 per cent year over year. Environmental Social Governance.

 

Caribbean Money Daily

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