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[…] 22,256 units at $95. Sagicor Group rose 4 cents with 584,105 shares changing hands at $23.55, Scotia Group had 1,633,165 shares changing hands to close with a gain of $1.25 at $32, Scotia Investments rose $2 […]
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[…] Real Estate Fund gained 50 cents to close at a 52 weeks’ high of $12 while trading 43,900 shares, Scotia Group had 91,317 shares changing hands to close with a loss of $3 at $34, Seprod added 38,921 units and […]
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[…] year ever, in terms of earnings last year, as they picked up close to $120 million in fees, when Scotiabank switched their direct share ownership from Canada, to a company set up in the Caribbean, to hold […]
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[…] cents to $4.20, Sagicor Group rose by $1.25 to close at $23.25 with 240,545 units changing hands, Scotia Group had 286,042 shares changing hands to close at $30.41, Supreme Ventures traded at an intraday 52 […]
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[…] continued seesaw movement in the price of Scotia Group continued in the morning session with the stock trading at $34.99, helping to push the main stock […]
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[…] and accounted for 1,814,132,574,092 units changed hands with 12 stocks rising and 10 falling. Scotia Group traded at $30.09 compared to nearly $34.99, the last traded price with 81,528 shares Barita […]
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[…] stock market pulled back with the indices falling in junior and the main markets. Scotia Group traded at $31 compared to nearly $35 on which the main market indices were based on Wednesday but […]
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[…] Jamaica Stock Exchange main market fell on Tuesday as Grace Kennedy, Scotia Group and Scotia Investments fell by more than $2, while JMMB Group an Pan Jam fell by nearly $1 but the […]
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[…] Sagicor Group gained $1.50 and closed at $20 for 52 weeks’ high with 37,610 units changing hands, Scotia Group had 163,055 shares changing hands at $30.01 after falling by $1.48. Scotia Investments closed at $30 […]
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[…] Sagicor Real Estate Fund traded 124,100 shares to close with an increase of 80 cents at $11, Scotia Group had 54,846 shares changing hands at $30, Sterling Investments had 17,049 units trading at $13, […]
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[…] Stock Exchange recorded early gains in the morning session on Tuesday in the two local markets with Scotia Group rising to $31 with 60,000 shares trading but the stock fell back to and pulled the main market index […]
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[…] trades, with 75 minutes having elapsed, National Commercial Bank traded 150,000 shares at $38..37, Scotia Group traded as high as $30.99 but fell back to $29 as the price rose by 50 cents, Lasco Manufacturing […]
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[…] ended at $16.70, Sagicor Real Estate X Fund ended with 22,365 shares trading to finish at $10.25. Scotia Group had 21,181 shares changing hands at $27.50 to record a 32 cents gain, Supreme Ventures closed with […]
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[…] lost 31 cents in trading 16,886 units at $4.50, Sagicor Group with 227,120 units ended at $16.70, Scotia Group had 885,356 shares changing hands at $27.18 to record an 18 cents gain. Scotia Investments had 5,400 […]
[…] Scotia Group profit jumped 33 percent to $1.96 billion after increased taxation of $1.26 billion for the quarter ending January. The improvement is due primarily to falling cost as income declined moderately by 2 percent to $10.37 billion.Net interest income for the period was $6.23 billion, up from $6.08 billion generated in similar quarter in 2015. This was primarily due to a fall in interest expenses of $239 million. The Group saw a slight dip in interest income of $89 million even as loans grew 6.9 percent to $156.35 billion while investments rose by 28.5 percent to $112 billion. Customer deposits grew 10.7 percent to $219 billion. The group enjoyed better loan losses experience with a reduction of $87 million to $257 million, a 25 percent reduction compared with the prior year outturn, aided by what management stated as “enhanced adjudication, monitoring and recovery efforts.” Other revenue for the quarter amounted to $2.8 billion, a decrease of $95 million compared to the quarter ended January, 2015. The reduction was due “to net losses on financial assets resulting from marked-to-market movements on securities, lower foreign currency gains, offset by the growth in net fee and commission income from increased transaction volumes on our credit card and merchant service business segments. Other revenue was $1.1 billion below the previous quarter, due primarily to the one-time actuarial release of $1 billion booked in the October quarter of 2015, resulting from the changes to the income tax regime for insurance companies in 2015” the banking group’s management stated in their report accompanying the financials. Operating Expenses for the three months amounted to $5.6 billion, a decrease of $733 billion or 11.61 percent compared to prior year. Asset tax fell by $339 million as the rate for regulated insurance companies moved from 100bps to 25bps; correspondingly, the corporate income tax rate for these entities was increased from 15 percent to 25 percent. Salary related and other operating expenses were down $394 million, flowing from the benefits of efficiency initiatives including closure of some branches implemented in 2015. Earnings per share for the quarter, came in at 62 cents compared with 47 cents in 2015 and seem poised to hit the $4 mark for the fiscal year ending in October. The stock traded at $32 on the Jamaica Stock exchange on Friday. […]