Scotia Group Jamaica put in a good performance for the nine months ended July 31, 2026, posting net income of J$16.2 billion with its asset base expanding by $100.4 billion or 13 per cent to $853.2 billion.

The Group recorded total revenues of $56.4 billion, reflecting an 11 per cent increase over last year. Total deposits increased to $577.5 billion.

All business lines were on the up and up.

The performance is all the more remarkable given that the Jamaican economy is contracting due to rising inflation, higher energy costs, global political tensions, the Iran/US conflict, and Jamaica recovering from the ravages of Hurricane Melissa. Businesses in Jamaica have to contend with a high degree of uncertainty.

So how does Scotia Group CEO Audrey Tugwell Henry see the Jamaican economy performing for the remainder of the year?

Speaking at a media briefing held at Scotia Group Jamaica’s downtown Kingston headquarters on Friday, she replied: “ With optimism largely because the Government of Jamaica has demonstrated a lot of maturity in navigating challenging situations. We are seeing the thoughtfulness in establishing NaRRA and now JAMROC, which will oversee NaRRA. Once those infrastructure projects start to manifest, that will create a significant investment into the economy.

“Then there is going to be a liquidity event that will be created by our buyback offer of minority shares. That will be somewhere in the region of J$54 billion of liquidity that will enter the market for persons to determine how they want to redeploy those assets.

“I am very optimistic that we have navigated the worst of the disastrous part of the hurricane over the last ten months. As we go into the last quarter of the year, the macroeconomic level of the country should pick up. Already, there are several plans for rebuilding, which will stimulate the economy and create growth

“The last part of the year kicks off with the winter tourist season, and there is a lot of preparation to make that successful. For Scotia, we have great expectations for 2027.