Mon | Jan 21, 2019

Billions on loan for Scotia anniversary celebrations

Published:Monday | October 6, 2014 | 12:00 AM
Leighton McKnight greets Paula Brown, relationship manager of Scotia Private Client Group.
Dr Nigel Clarke (left) and Jacqueline Sharp (right), president and chief executive officer, Scotia Group, are engrossed in conversation just prior to a special luncheon hosted by Scotiabank for some of their corporate clients. Contributed Photos

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

According to Jacqueline Sharp, president and chief executive officer the 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."

Intense honour

Sharp thanked Jamaicans across the island that 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".