Mon | Oct 22, 2018

Scotiabank sets up $500m loan facility

Published:Monday | September 1, 2014 | 12:00 AM
Jacqueline Sharp (left), president and chief executive officer, Scotia Group, chats with Joyce Bolton, customer since 1952, during the 125th anniversary celebratory launch. The event took place at the Scotiabank Centre on August 21.-Contributed

Scotiabank has set up a $500 million loan facility as part of its 125th anniversary celebration activities. The fund, which targets small- and medium-size business customers, will offer specially discounted rates. The company which provides financial services for more than 50 per cent of Jamaicans, has in excess of $404 billion in assets. The bank, which originally opened as a small office in 1889, has since evolved to become one of Jamaica's premier financial institutions, with a network of 38 branches across the island and more than 2,300 employees.

According to Jacqueline Sharp, president and CEO of Scotia Group, "We feel this loan facility is critical to get Jamaica growing again and will provide discounted financing to companies seeking to expand their company or purchase new equipment as they look to heighten operational efficiencies and competitiveness."

Sharp thanked Jamaicans across the island who have invested in, and trusted Scotiabank with their financial future and security. According to Sharp, "It is an intense honour and privilege to serve you. As we look forward to the next 125 years, Scotiabank will continue on its aggressive path to build its customers networks and grow segments that need financial services. We are always seeking new and more efficient platforms for customer engagement that will, ultimately, allow better pricing for our customers."