September 8, 2025
Scotia Group Jamaica Limited (SGJ)
Unaudited financials for the nine months ended July 31, 2025:
Scotia Group Jamaica Limited (SGJ) for the nine months ended July 31, 2025, reported an 8% increase in Interest income totalling $38.47 billion compared to $35.71 billion in the corresponding period last year. Interest income for the third quarter had a 7% increase to close at $13.28 billion compared to $12.40 billion for the comparable quarter of 2024.
interest expense amounted to $1.50 billion (2024: $1.51 billion), this represents a marginal decrease year over year. Consequently, net interest income increased by 8% to $36.97 billion compared to $34.20 billion for the nine months ended July 31, 2024. The company booked net interest income of $12.72 billion for the third quarter versus $11.85 billion reported for the similar quarter of 2024.
Net Interest Income after expected credit losses increased by 11% to close at $34.77 billion (2024: $31.31 billion).
Total Other operating revenue amounted to $13.37 billion, a 7% increase from $12.46 billion reported in 2024, while Total insurance finance expenses increased by 16% from $2.00 billion in 2024 to $2.32 billion in the period under review. Also, net insurance revenue for the nine months ended July 31, 2025 amounted to $2.59 billion, a 56% increase relative to $1.66 billion reported in 2024.
Consequently, Total operating income for the nine months ended July 31, 2025, amounted to $48.40 billion, a 11% increase relative to $43.42 billion reported in 2024. Total operating income for the third quarter amounted to $16.25 billion (2024: $14.95 billion). SGJ attributed the growth primarily to an increase in its loan portfolio.
Total operating expenses totalled $26.18 billion, a 16% increase from the corresponding period last year. (2024: $22.56 billion).
Profit before taxation for the nine months ended July 31, 2025, amounted to $22.23 billion, a 7% increase relative to $20.86 billion reported in 2024. Profit before taxation for the third quarter amounted to $8.09 billion (2024: $7.85 billion).
Taxation for the nine months ended July 31, 2025, had a 9% increase to reach $7.46 billion (2024: $6.86 billion). As such, Net Profit for the nine months amounted to $14.76 billion, a 5% increase from the $14.00 billion reported in 2024. For the third quarter, Net Profit was $5.55 billion (2024: $5.46 billion).
Consequently, Earnings per share for the nine months amounted to $4.74 (2024: EPS: $4.50), while Earnings per share for the quarter totaled $1.79 (2024: EPS: $1.75). The twelve-month trailing EPS was $6.72, and the number of shares used in these calculations was 3,111,572,984.
Notably, SGJ’s stock price closed the trading period on September 05, 2025, at a price of $54.55 with a corresponding P/E ratio of 8.11x.
Balance Sheet Highlights
The company’s assets totalled $752.76 billion (2024: $692.21 billion). The growth in total assets was primarily driven by a $48.94 billion or 17% increase in SGJ’s Loan Portfolio, totalling $340.57 billion at the end of the period. (2024: $291.64 billion). SGJ highlighted, “Our core loan book continues to perform well with mortgages increasing year over year by 22%, consumer loans by 17%, credit cards by 7% and commercial loans by 12%.”
Shareholder’s equity was $146.93 billion (2024: $131.96 billion), representing a book value per share of $47.22 (2024: $42.41).
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