Scotiabank Named Caribbean’s Best Bank for 2025 by Global Finance

Scotiabank has been honored as the Caribbean’s Best Bank for 2025 by Global Finance Magazine, receiving top recognition across several countries.

The prestigious Global Finance Best Bank Awards, issued annually from New York, spotlight financial institutions that demonstrate excellence in service, stability, and innovation. According to Joseph D. Giarraputo, Publisher and Editorial Director of Global Finance, this year’s winners stood out for meeting customer needs in challenging environments while delivering strong performance and investing in future-ready solutions.

Regional Winner

Against this backdrop, Scotiabank, our Best Bank in the Caribbean, de-risked out of its Central and South American operations to focus on unlocking potential in the Caribbean. As a result, the Canadian giant posted significant growth in its International Banking segment, which generated adjusted earnings of nearly $2.9 billion in 2024, up 11% year over year (YoY). This increased regional focus also enabled the bank to take home awards in several geographies.

Highlights of Scotiabank’s 2025 Performance:

• Leading the market with above-industry returns:
  • Return on Assets (ROA): 1.89%
  • Return on Equity (ROE): 14.24%
  • Operational Efficiency: 46.6%
• Key Digital Innovations include:
  • A fully digital onboarding process for deposit accounts, now being piloted for loans and credit cards.
  • A client-advisor chat and call tool integrated within the Scotia Caribbean App.
  • Digital access to Solace Insurance solutions via the app.
  • A virtual terminal payment solution for businesses, eliminating the need for physical card readers.
  • Upgrades to merchant services, including the launch of a proprietary application to support unmanned kiosks.

Scotiabank also received Best Bank 2025 honors in Bahamas, Barbados, Trinidad & Tobago, Guyana, Jamaica, and Turks & Caicos, further cementing its leadership across the region.

To learn more about the 2025 Global Finance Best Bank Awards, click here.