Scotiabank

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%.

Scotiabank's half-year profit drops to $309 million

Scotiabank Trinidad and Tobago Ltd (Scotiabank) today reported income after taxation of $309 million for the six months ended 30 April 2018, a decrease of $24 million or 7% over the comparative period last year.

The bank says this reduction in profitability was mainly due to increased corporation tax rates levied on commercial banks at 35%, combined with higher levels of loan loss provisioning.

Scotiabank T&T appoints new Managing Director

Scotiabank announced today that Stephen Bagnarol has been appointed as the Managing Director of Scotiabank Trinidad and Tobago Limited and the Senior Vice President & Head of the Caribbean South & East, effective November 1st, 2017.

This follows the bank’s announcement on September 19th, 2017 that Anya Schnoor has been promoted to Executive Vice President, Retail Payments, Deposits and Unsecured Lending for Canadian Banking from November 1st, 2017

Bagnarol joined Scotiabank in 1998.

Schnoor moves up in Scotiabank

Scotiabank today announced that Anya Schnoor, Managing Director of Scotiabank Trinidad and Tobago Limited, and Senior Vice President and Head of the Caribbean South and East has been promoted to Executive Vice President, Retail Payments, Deposits and Unsecured Lending for Canadian Banking.

Schnoor’s appointment will take effect after November 1, 2017 and once a successor has been named to the role.

The bank says it will announce her successor shortly.

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