Scotiabank and Visa have announced the signing of a seven-year agreement to support the development of innovative payment solutions and enhancing the customer experience for Visa cardholders in Central America and the Caribbean.
According to an official statement, the relationship will leverage Visa’s technology solutions and know-how to support Scotiabank’s digital transformation across different markets in Central America and the Caribbean.
Staff and customers at Scotiabank on Richmond Street in Port of Spain had a bit of a scare this morning, when a smoke alarm went off in the building.
They all were evacuated from the premises as a precaution.
In a brief statement, Scotiabank assures that business has resumed after bank officials were given the all clear by the Fire Services.
The full text of the company’s statement, follows…
At approximately 8am on Wednesday, December 18, 2019 a smoke alarm was raised at Scotiabank’s Richmond Street building.
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 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 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%.
Join us live now as Scotiabank speaks about the acquisition plans by Republic Bank Holdings Limited for nine Caribbean countries.