Shamille Scott
Scotia Group Jamaica President and CEO Audrey Tugwell .
Scotia Group Jamaica is moving to increase its market share in the investments and insurance sectors to further ramp up earnings in wake of lower net fees and commissions due to its digital adoption strategy that has intensified as a result of the coronavirus pandemic.
The group recorded net profits of $4.5 billion for the six months ended April 30, 2021, up $463 million from the corresponding period last year.
Meanwhile, net fee and commission income during the half-year ended April 2021 amounted to $3 billion, a reduction of $396 million or 11.5 per cent.
“Where are seeing big opportunities for our non-interest revenue is in our investment and insurance business. So that is our expectation for closing the gap there,” Scotia Group Jamaica’s President and CEO Audrey Tugwell Henry told a virtual media briefing on Thursday.