Scotiabank Guyana registered a profit after tax of $1.335b for the financial year ended October 31, 2020, down 40.86% over the previous year.
In what might reflect the impact of the COVID-19 pandemic, the bank also saw a huge rise in the net impairment loss on financial assets.
According to its financials published in yesterday’s Sunday Stabroek, Scotia’s interest income fell from $5.2b in 2019 to $4.8B last year while its net interest expense climbed from 217.8m in 2019 to 229.9m last year. Its total revenue for 2020 was $6.89b compared to $7.38b in 2019.
