Scotia Group Jamaica Limited Reports slight increase in year-end profit

(SGJ’s Financials)  For the financial year ended October 31, 2018, SGJ reported a net profit of $12.77Bn (EPS: $4.10), representing an increase of 3% over the $12.41Bn (EPS: $3.91) reported a year prior. This performance was attributed to strong growth in its loan portfolio and increased revenue flow from foreign exchange activities coupled with improved expense management. SGJ’s main priority for the current financial year is restructuring its operations to focus on its core business lines to achieve greater operational efficiency and customer satisfaction. The Company’s Board of Directors approved a dividend $0.51/share payable on January 18, 2019, to stockholders on record as at December 27, 2018.