Scotiabank T&T Q1 Jan 2021 Profits Up 2.1%

Profit driven by decline in expenses. Income Fell

• Revenue🔻7% as both Net Interest Income and Other Income fell
• Non-Interest Expenses🔻5%
• Impairment losses🔻56%
• ROA🔻to 2.11% from 2.16%

• Profit up⬆️ to TT$146m from TT$143m

Mgmt says “The Group’s quarterly performance was driven by a reduction in net impairment losses of $29 million or 56% as the Group continues to take a prudent approach to loan loss provisioning within this economic climate” 

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