Scotiabank

Scotiabank records half a billion in income

Sco­tia­bank Trinidad and To­ba­go has so far record­ed an in­come af­ter tax­a­tion of over half a bil­lion dol­lars for the fi­nan­cial year 2019, the com­pa­ny’s unau­dit­ed fi­nan­cial re­sults have stat­ed.

“Year to date in­come af­ter tax­a­tion was $524 mil­lion, an in­crease of $40 mil­lion or eight per cent over the same pe­ri­od last year.

Scotiabank reports 1st quarter profit of $184 million

Scotiabank Trinidad and Tobago Ltd (Scotiabank) has reported income after taxation of $184 million for the quarter ended 31 January 2019, an increase of $39 million or 27% over the comparative period last year.

A statement by Scotiabank says that the increase over the prior year was driven by growth in the retail and commercial loan portfolios together with a tax credit and lower impairment losses on financial assets. Scotiabank continues to highlight its financial strength with Return on Equity at 18.47% and Return on Assets at 3.06%.

Scotiabank reports $644 million after-tax income

Scotiabank Trinidad and Tobago Ltd (Scotiabank) today reported income after taxation of $644 million for year ended 31 October 2018, a decrease of $13 million or 2% over the comparative period last year.

Scotiabank says this reduction in profitability was driven by the increased corporation tax rate levied on commercial banks at 35%, combined with higher levels of loan loss provisioning.

It says it continues to highlight its financial strength with Return on Equity at 16.05% and Return on Assets at 2.69%.

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