Scotiabank Trinidad and Tobago yesterday reported profit after tax of $340 million for the six months ended April 30 2025.
In its second quarter 2025 results, Scotia said this represents an increase of $17 million or five per cent compared to the six months ended April 30, 2024.
The group said its income after tax for the second quarter was $174 million, an increase of $14 million or nine per cent over the prior quarter’s performance.
Scotia T&T outlined that this improved profitability resulted in a Return on Equity (ROE) of 14.9 per cent and a stable Return on Assets (ROA) of 2.2 per cent over the prior year.
Based on these financial results, Scotiabank T&T declared a dividend of $0.70 per share for the second quarter, for a total of $1.40 for the first half of fiscal 2025, while earnings per Share (EPS) increased to $1.93 with a strong dividend yield of 5.35 per cent.
Managing director of Scotiabank T&T Gayle Pazos, said, “The income after tax increased by 5 per cent year on year, driven by core revenue growth. We have achieved significant asset growth of $1.8 billion or six per cent, a testament to our robust strategies and market positioning.” Pazos highlighted that loans to customers grew $716 million or four per cent, with its investment portfolio growing by $1.6 billion or 27 per cent.
“Customers’ deposits also grew by $1.6 billion or seven per cent, with digital adoption increasing to 57 per cent. By leveraging digital advancements and optimising asset allocations, the Group has set a solid foundation for future growth and resilience in an ever-evolving financial landscape.”
Scotia T&T said the total revenue, comprising net interest income and other income, was $1 billion for the period ended April 30, 2025, an increase of $55 million or six per cent over the prior year.
Net interest income for the period was $754 million, an increase of $53 million or eight per cent for the same period.
“The main drivers were investment securities interest, which increased by $46 million or 41 per cent, as our team continued to manage liquidity while securing higher earning investment opportunities to generate additional interest income. Interest income on loans to customers also increased by $31 million or five per cent, offset by an increase in customer deposit interest of $24 million over the same comparable period last year, both based on growth in their respective portfolios,” the bank said.
Total equity closed the period at $4.7 billion, an increase of $156 million or three per cent when compared to the balance as of April 30, 2024.
The bank’s capital adequacy ratio stood at 18.19 per cent as of April 30, 2025, which continues to be significantly above the 10 per cent minimum capital adequacy ratio under BASEL II regulations.