SCOTIABANK Trinidad and Tobago Ltd says it remains “cautiously optimistic” about the country’s economic prospects but is mindful of potential downside risks stemming from global trade tensions and tariff concerns that could affect both trading partners and the local economy.
The bank made the statement in a note to shareholders, signed by chairman Derek Hudson and managing director Gayle Pazos, which accompanied its unaudited financial results for the period ended July 31, 2025
For the nine-month period, Scotiabank reported an after-tax profit of $531 million, up $43 million from the same period last year.
The unaudited results were posted on the T&T Stock Exchange yesterday.
“For the period, the group recorded an increase in total revenue of $120 million or 8%, driven mainly by growth in net interest income of $93 million or 9%. This increase was achieved through continued strong expansion in loan balances in both retail and commercial segments as well as an increase in investment income. Other income increased by $27 million or 7% driven by growth in core business activities across all segments,” Scotiabank stated.
“Non-interest expenses increased by $26 million or 4% over the prior year. The group has actively managed its non-interest expense base while simultaneously investing in personnel, technology and customer experience. Our productivity ratio reduced to 41% in 2025 from 43% in 2024 which remains the best in class in the local banking sector,” it stated.
Scotiabank reported a “notable increase” in total assets, which rose $1.5 billion, or 5%, during the period. The group’s largest interest-earning asset, loans to customers, increased by $0.7 billion, or 3%.
“This growth was achieved while maintaining a high level of credit quality. The ratio of non-performing loans to total loans remains below 2% of the total portfolio and our ratio of impairment losses to loans is 0.6%,” it stated.
“We continue to seek to capitalise on investing liquidity in both short and longer tenor investments. Year to date, we have invested an additional $1.5 billion in Investment Securities and Treasury Bills that has generated an additional $65 million in interest income during the year,” Scotiabank stated.
Scotiabank said the increase in total assets was mainly funded by a significant rise in customer deposits which increased by $1 billion or 4% over the prior year.
“This growth is a strong indicator of consumer confidence in our stability and the competitive rate offerings across all business segments. Our strategic focus on enhancing customer experience and offering attractive deposit rates has undoubtedly contributed to this positive outcome,” it stated.
Scotiabank said it was pleased to declare a third-quarter dividend of 70 cents per share, bringing total dividends to 210 cents for the first nine months of fiscal 2025.
Earnings per share (EPS) rose to 301 cents, with the current dividend payout generating a yield of 5.6%.
Managing director of Scotiabank T&T Ltd Gayle Pazos in a media release issued yesterday said the bank’s digital adoption increased to 57%.
“Apart from leveraging digital advancements within the retail and corporate/commercial segments, we have focused on improving our product and rate offerings in selected areas to provide better opportunities for our clients,” Pazos stated.
