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Scotia Group realises 10.7% asset growth in Q1

Scotia Group Jamaica says it realised a 10.7 per cent growth in assets in the first quarter ended January.
 
The Group's asset base grew by $64.2 billion, reaching $665.9 billion.
 
The financial institution says this was mainly due to growth in its loan portfolio of $40.8 billion or 17 per cent.
 
Scotia also realised higher cash resources of $36.3 billion and higher carrying value of the retirement benefit assets of $3.6 billion.
 
The group says the performance was offset by a reduction in pledged assets or assets used to secure a debt or loan of $11.3 billion.
 
There was also a 5.6 per cent reduction in securities investments.
 


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