Scotia Group Jamaica is reporting net income of just under $20 billion for the financial year ended October 31, 2025 a slight decline of about 1.3% compared to last year.
Despite a dip in profit, the group's asset base continues to strengthen, climbing nearly 10% to $773.8 billion, driven largely by a strong performing loan portfolio.
In line with its commitment to shareholder returns, the board has approved a fourth quarter dividend of 45 cents per share payable on January 21 to stockholders on record as at December 30.
The group says its 2025 performance reflects consistent results across all business lines, with total revenues rising almost 7% to $76.6 billion as it continued to streamline operations and focus on client service.
However, fourth quarter results were affected by non-recurring charges of $817 million related to efficiency initiatives, asset write downs and additional credit provisions tied to Hurricane Melissa.
Scotia says it was prudent to increase those provisions given the scale of the storm's impact.
Deposits grew strongly to $529.8 billion, up more than 11% year over year, while the Scotia Plan loan portfolio jumped 16% and mortgage lending surged 20%.
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