Scotia Group chalks net income of $10.1 billion for 2026 half year

Dividend of 45 cents declared  for second quarter, payable on July 23

Durrant Pate/Contributor

Scotia Group has delivered a strong half-year performance with net income of $10.1 billion for the half year ending April 30, 2026.

In addition, the Group’s asset base expanded by $80.3 billion or 10.5%, to $843.9 billion. Total revenues (excluding credit losses) of $37.1 billion reflected an 11.1% increase over the prior year. 

Total deposits rose to $571.8 billion, reflecting a year-over-year growth of 11.9%, signalling sustained client confidence in the banking Group. Scotia Plan Loan portfolio expanded by 15%, while the mortgage portfolio recorded growth of 19% in 2025, demonstrating strength in meeting client needs to finance the acquisition of key assets. 

Segment performance

The Commercial segment continues to advance on our strategic objective to grow primary client relationships. This approach has delivered steady growth in deposits, which increased by 14% year-over-year, underpinned by rising transaction volumes through our secure digital channels. 

Additionally, commercial loan growth of 15% year-over-year reflects Scotia’s ongoing support for the business sector, with capital deployed to facilitate investments in the productive economy. Scotia Investments Jamaica saw a 10% increase in assets under management. 

Scotia Jamaica Life Insurance reported an increase in Gross Written Premiums of 8% over the previous year. Scotia General Insurance Agency also performed well with Gross Written Premiums increasing by 54% and policy sales increasing by 52% year over year.

Aligning with its objective to return value to shareholders, the Board of Directors has approved a dividend of 45 cents per stock unit in respect of the second quarter, which is payable on July 23, 2026, to stockholders on record as at July 1, 2026. 

Management pleased with performance

In reference to the Group’s performance, President and CEO, Audrey Tugwell Henry, remarked, “We delivered a solid performance during the quarter, reflecting the strength of our strategy, the resilience of our team, and the continued confidence of our clients. While we are pleased with the Group’s financial results, we remain equally focused on the role we play in supporting the communities we serve. Through the work of the Scotia Foundation, our employee volunteers, and strategic partnerships, we continue to support recovery and rebuilding efforts in communities impacted by Hurricane Melissa, particularly across Western Jamaica.”

As an institution deeply rooted in Jamaica, Scotia Group remains committed to creating lasting economic and social impact. During the period, Scotia was marked with several achievements: 

• Best Private Bank Awards 2026 – Caribbean and Central America – Regional Winners – Scotia Wealth Management 
• World’s Best Bank Awards 2026 – Latin America Regional Winners – Caribbean Scotiabank 
• Euromoney Private Banking Awards 2026 – Best International Private Bank – Scotia Wealth Management 

These recognitions reinforce Scotia’s commitment to the Caribbean and to supporting its clients throughout their entire financial journey.