Scotiabank Trinidad and Tobago Limited (The Group) reported Income After Taxation of $167 million for the quarter ended 31 January 2025, an increase of $2 million or 1% compared to the performance for the 3 months ended 31 January 2024. Return on Equity (ROE) of 14.5% and a Return on Assets (ROA) of 2.2% were unchanged from the prior year. Based on these financial results, Scotiabank Trinidad and Tobago Limited is pleased to declare a dividend of 70 cents per share for the 1st quarter. Earnings per Share (EPS) increased to 94.4c with a solid Dividend yield of 4.98%, rewarding our shareholders for their continued trust in our organisation and strategy.

Gayle Pazos, the Managing Director of Scotiabank Trinidad and Tobago Limited, in commenting on the solid performance, remarked “The Group has embarked on the 2025 financial year with a commendable performance, reflecting the robustness of our strategy in a highly competitive market. We continue to strategically optimize our balance sheet. Our balanced mix of assets has successfully generated an additional $48 million, a notable 13% increase in Interest Income compared to the first quarter of 2024. Loans to Customers surpassed $20.9 billion, an impressive growth of $1.7 billion or 9% over the same period in 2024. We continue to be recognized by International Financial organizations and our Bank proudly earned another Bank of the Year title from The Banker Magazine, following recognitions from Global Finance and Euromoney in 2024. This award highlights not only our robust financial performance, but also our innovative approach to banking and our focus on delivering exceptional value to our clients. Looking ahead for the rest of 2025, the outlook looks positive although there are challenges. Despite the projection for continued economic growth, potential challenges exist with heightened geopolitical tensions and a shift in global political dynamics. With our continued focus on leveraging our digital banking capabilities and growing our core operating segments, the Bank is well positioned for sustained growth and I am confident that we will continue to positively respond to the changing economic conditions that impact Trinidad and Tobago.”

Revenue

Total Revenue, comprising of Net Interest Income and Other Income, was $494 million for the period ended 31 January 2025, an increase of $13 million or 3% over the prior year. Net Interest Income for the period was $382 million, an increase of $36 million or 10% compared to the corresponding period last year. The main driver was interest from Loans to Customers, increasing by $29 million or 9% based on loan growth, with Customer Deposit Interest costs also increasing by $7 million over the comparable period last year. Investment Securities Interest increased by $20 million or 36%, as our team continued to manage liquidity while securing higher earning investment opportunities to generate additional interest income. As of 31 January 2025, Other Income of $111 million decreased by $23 million primarily due to lower trading revenues, in line with industry challenges and prevailing market conditions. This was partially offset through increased Insurance and Wealth revenue streams.

Balance Sheet

Total Assets were $31.2 billion as at 31 January 2025, an increase of $1.1 billion or 4% compared to the prior year. Loans to Customers, the Bank’s largest interest earning asset, was $20.9 billion as at 31 January 2024, an increase of $1.7 billion or 9%. Our Investment portfolio (Securities and Treasury Bills) stood at $6.5 billion as at 31 January 2025, an increase of $451 million or 7%. Our portfolio return has improved over prior year, as we continue to seek opportunities both locally and internationally, to optimize current market conditions and invest in higher earning assets. Total Liabilities increased to $26.5 billion, $232 million or 1% over the same comparable period in 2024 with Deposits from Customers increasing by $932 million or 4%. Our Deposit portfolio has grown in both the retail and commercial segments and is key to providing stable funding for our credit expansion.

Dividends and Share Price

The Group continues to provide a healthy return to our shareholders. A dividend of 70c was declared for the 1st quarter, consistent with the last 3 quarters. This resulted in a payout ratio of 74% and an improved dividend yield of 4.98%, an increase of 63 bps.

Return on Equity and Return on Assets

Return on Equity of 14.48% and Return on Assets of 2.16% remain in line with the average return over the last 5 years.

Gayle Pazos Managing Director of Scotiabank Trinidad and Tobago Limited

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