DESPITE high interest rate challenges and other headwinds impacting the financial environment, Scotia Group continued to witness strong results, delivering solid profit out-turns and commendable segment performances up to the end of its nine-month period in July.

The 134-year-old entity’s profit jumped 74.2 per cent to $12.8 billion for the nine months when compared to the same period last year. Its third-quarter results, which also registered profits of $5.2 billion, reflected an increase of $952 million or 22.6 per cent above that in 2022, and this ably backed by group revenues of $41.5 billion — a 31.5 per cent increase year on year.

“The Scotia Group year-to-date performance is a result of an execution of our strategy of prudent risk management, efficient management of our operations, seamless execution of our digital transformation agenda, focus on our customer experience, along with our delivery of a wide range of products and services through a team of highly trained professional bankers,” president and CEO Audrey Tugwell Henry said at a media briefing on Monday.

https://www.jamaicaobserver.com/business/scotia-profits-swell-amid-strong-segment-performances/https://www.jamaicaobserver.com/business/scotia-profits-swell-amid-strong-segment-performances/