Maroc - NEWSDAY.CO.TT - A la Une - 16/12/2025 18:28

Scotiabank earns record $2b revenue

FOR the first time, Scotiabank Trinidad and Tobago Ltd has earned over $2 billion in revenue. The company also declared a profit after tax of $696 million for the year ended October 2025, surpassing October 2024 numbers by $38 million. The subsidiary of the Canada-based Bank of Nova Scotia also recorded its highest ever earnings per share, which increased to 395 cents with a dividend yield of 6.26 per cent. Dividends also stood at 90 cents per share for the fourth quarter, totalling 300 cents for 2025. Managing director Gayle Pazos said, “I am pleased to report another successful year for our group. This strong financial performance reflects the success of our strategic initiatives, deliberate investment in digital technologies, delivering product and payment capability coupled with customer-focused execution. “For the first time in our history, total revenue exceeded $2 billion, with year-on-year growth of seven per cent, with strong retail loan growth. Our investment portfolio also grew by $522 million or eight per cent, and deposits with customers grew by $1.4 billion or six per cent, demonstrating our customers’ confidence in our portfolio of products. “The company’s digital adaptation increased to 57 per cent as it continues to modernise daily transitions. He said only two per cent of all transactions are processed over the counter at the bank’s branches. “The company’s net interest income also increased by over $100 million to $1.5 billion in 2025. Interest income on loans to customers rose by $58 million, with retail loan income growing by four per cent and commercial by six per cent. “Apart from leveraging digital advancements within the retail and corporate/commercial segments, we have committed to working alongside our customers, understanding their needs and providing better opportunities for our clients. In closing, I want to extend heartfelt thanks to all Scotiabankers for their hard work and commitment over the last year. Your lean in ensured another year of outstanding achievement for our bank.” The post Scotiabank earns record $2b revenue appeared first on Trinidad and Tobago Newsday.