NY magazine: Scotiabank is Trinidad and Tobago's best bank in 2024

SCOTIABANK was recognised as the best bank in Trinidad and Tobago in 2024 by Global Finance Magazine.

"The New York magazine selects the best financial institutions around the world annually and is a trusted standard of excellence," Scotiabank stated in a news release on May 16.

Global Finance publisher and editorial director Joseph Giarraputo said, “In this ever-changing environment, the Best Bank Awards recognise the financial institutions that offer the broadest range of services, long-term reliability, and technological innovation.”

The release stated, "The highlights of Scotiabank’s recognition were based on strong financial performance, outperforming the market in key ratios such as return on assets, return on equity, and operational efficiency recorded at 2.04, 14.95 and 44.7 per cent respectively.

"Scotiabank was also progressive in digital transformation, with 72 per cent of clients enrolled in digital platforms and a 54 per cent digital adoption rate."

It added, "Scotiabank also had a range of digital enhancements such as the introduction of digital account opening, new accessibility features added to the Scotia Caribbean Mobile App and Scotia eCOM+ - Scotiabank’s Inter-Payment Gateway Solution which allows clients to seamlessly integrate transaction capabilities into their websites to immediately accept payments from anywhere in the world.

"Lastly, Scotiabank’s environmental, social, governance agenda, making an impact through sustainable investments and strong employee volunteerism in the communities in Trinidad and Tobago."

Scotiabank Trinidad and Tobago senior vice president and managing director Gayle Pazos thanked the bank’s clients and employees for their dedication, confidence and trust.

“This award would not be possible without the continued loyalty of our clients and passion of our employees.

“We remain committed to supporting our clients in achieving their goals and strengthening the communities we serve, through innovative products and providing a best-in-class client experience.”