June 12, 2026

Scotia Group Jamaica Limited (SGJ)
Unaudited financials for the six months ended April 30, 2026

Scotia Group Jamaica Limited (SGJ) for the six months ended April 30, 2026, reported a 11% increase in interest income totalling $27.92 billion compared to $25.19 billion in the corresponding period last year. Interest income for the second quarter had a 11% increase to close at $13.82 billion compared to $12.47 billion for the comparable quarter of 2025.

Interest expense amounted to $1.18 billion (2025: $938.36 million), representing an increase of 25% year over year. Consequently, net interest income increased by 10% to $26.74 billion compared to $24.25 billion for the six months ended April 30, 2025. The company booked net interest income of $13.27 billion for the second quarter versus $12.03 billion reported for the similar quarter of 2025.

Net interest income after expected credit losses increased by 9% to close at $25.08 billion (2025: $23.00 billion).

Total insurance finance expenses increased by less than 1% from $1.56 billion in 2025 to $1.57 billion in the period under review, while net insurance revenue for the six months ended April 30, 2026, amounted to $1.70 billion, an 8% decrease relative to $1.85 billion reported in 2025. Total other operating income for the period amounted to $10.25 billion (2025: $8.86 billion), driven by a 27% increase in net fee and commission income to $4.99 billion and a significant jump in other revenue to $493.79 million.

Consequently, total operating income for the six months ended April 30, 2026, amounted to $35.47 billion, a 10% increase relative to $32.15 billion reported in 2025. Total operating income for the second quarter amounted to $17.56 billion (2025: $15.60 billion).

Total operating expenses totalled $20.06 billion, an 11% increase from the corresponding period last year (2025: $18.02 billion).

Profit before taxation for the six months ended April 30, 2026, amounted to $15.41 billion, a 9% increase relative to $14.13 billion reported in 2025. Profit before taxation for the second quarter amounted to $8.62 billion (2025: $7.27 billion).

Taxation for the six months ended April 30, 2026, had an 8% increase to reach $5.32 billion (2025: $4.93 billion). As such, net profit for the six months amounted to $10.08 billion, a 10% increase from the $9.21 billion reported in 2025. For the second quarter, net profit was $5.96 billion (2025: $5.00 billion).

Consequently, earnings per share for the six months amounted to $3.24 (2025: EPS: $2.96), while earnings per share for the quarter totalled $1.92 (2025: EPS: $1.61). The twelve-month trailing EPS was $6.68, and the number of shares used in these calculations was 3,111,572,984.

Notably, SGJ’s stock price closed the trading period on June 12, 2026, at a price of $54.21, with a corresponding P/E ratio of 8.12x.

Balance Sheet Highlights

The company’s assets totalled $843.86 billion (2025: $763.52 billion), a 11% increase year over year. The growth in total assets was led by a $54.44 billion increase in loans to $378.32 billion, followed by a $20.14 billion increase in cash resources and an $880.13 million increase in the retirement benefit asset during the period.

Shareholders’ equity was $169.66 billion (2025: $155.91 billion), representing a book value per share of $54.53 (2025: $50.11).

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