Scotia Group Jamaica reported a net profit of $10.1 billion for the half year period ended April 30, 2026.
Its asset base expanded by $80.3 billion to $843.9 billion. Total revenues grew by 11 per cent to $39.1 billion while total deposits increased to $371.8 billion, a year-on-year growth of 12 per cent.

The loan portfolio increased by 16.8 per cent to $38. 3 billion with mortgages increasing by 19 per cent. Consumer loans rose by 15 per cent, commercial loans went up 15 per cent and credit cards jumped by 15 per cent.

Scotia Group Jamaica, led by Audrey Tugwell Henry, performed particularly well compared with its competitors and other financial services players in Jamaica.

Its parent also had a lot to smile about with the Bank of Nova Scotia reporting a second-quarter net income of Cdn$2.63 billion compared to $2 billion in the same period last year. Adjusted diluted EPS was $2.01 up from $ 1.52 last year. Adjusted return on equity was 13.2 per cent compared to 10.4 per cent a year ago.

Canadian Banking generated earnings of Cdn$975 million, up 53 per cent compared to the prior year driven by double-digit pre-tax, pre-provision earnings growth and lower performing provision for credit losses. 

International Banking generated earnings of $736 million up 3 per cent year-over-year. Global Wealth Management delivered earnings of $476 million up 19 per cent year-over-year, driven by strong revenue growth from higher mutual fund fees, brokerage revenues and net interest income.

Global Banking and Markets reported earnings of $437 million up 11 per cent year-over-year. Results were driven by strong performance in Scotia’s capital markets business Scott Thomson, President and CEO of Scotiabank, commenting on the Canadian financial services giant’s financial performance, said: ” The bank delivered another strong quarter as we continue to execute on our strong revenue growth coupled with expanding margins and another quarter of positive operating leverage. The Bank remains on track to achieve its financial objectives for fiscal 2026 and its 14 per cent + ROE objective in fiscal 2027. Our focus on evolving our business mix drove strong fee income and wealth management revenues along with sequential Canadian commercial and small business loan growth.

In its home market Canada, Jamaica and across its global operations, Scotia performed well during the review period, which supports Audrey Tugwell Henry’s declaration of creating an impregnable financial fortress.

So how does the Jamaica operations boss see the outlook for the remainder of the year for both Jamaica and the Scotia Group?

“We are very optimistic about the economic outlook for the remainder of the year for the country. We want to congratulate the Government of Jamaiaca for the work that it jhas been doing particularly with handling the post Hurricane Melissa period and maintaining stability in the economy.

“Yes, there has been som impact on GDP but with regulation supporting NaRRA and the establishment of NaRRA together with the focus on rebuilding, we believe that the future of Jamaica continues to be bright. Jamaica is a very friendly country and is welcoming to the world.. We saw that repaid when many countries reached out with direct financial and non-financial support for Jamaica in the aftermath of Hurricane Melissa.

This has augured well for the way we have navigated the Hurricane Melissa recovery efforts.

“From a Scotiabank standpoint, we are very committed to supporting the economic development of Jamaica. Scotiabank is very optimistic about the outlook for Jamaica and will continue to make direct investments here. We will meet the needs of our corporate clients as well as our retail clients in the country.

“Our performance for the first half of the year has been robust. We are very pleased with our financial results, very pleased with the implementation of new technology, new processes to support our clients and make it easy for them to do business with us. We are very pleased with the response by our clients to the financial services we have offered them.

“The outlook for us as a financial services Group is very bright and we are very pleased to continue to serve our clients.”