The Bank of Nova Scotia Jamaica Ltd. (BNS) – Successful Year

News Release:

BNS and its subsidiaries completed another successful year reporting fourth quarter net profit of $339 million taking the profit for the year ended, October 31, 1997 to $1,585 million, just 4.8% below 1996’s record breaking level of $1,661 million. This quarter’s profit was $59 million below the previous quarter’s and $181 million below the same quarter of 1996.

“The results are very encouraging when viewed in the context of the challenges facing the financial sector”, said Mr. William Clarke, Managing Director of the Bank.