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Scotiabank to close two locations, more branches transition to digital model

Scotiabank on Tuesday (October 27) announced that it would be closing its Black River and Old Harbour locations.

The closure of the locations means that Black River customers will now conduct business at the Santa Cruz branch, as for Old Harbour,  services will be move to the Scotiabank in May Pen, Clarendon.

In addition, the financial institution noted that just like its King Street branch, more locations would be converted to their new digital operating model.

Earlier this week, the bank revealed that its Junction, St. Elizabeth branch would be converted into a  cashless service centre; meaning that the bank would no longer offer any cash transactions in branch.

Former President and CEO of Scotiabank, David Noel, in September 2020 announced several enhancements made by the bank to provide greater convenience to customers using its automated banking machines, mobile and online banking systems.

Noel further said that in order to assist customers with the ongoing transition to digital banking, Scotiabank  would be conducting a series of direct and online customer engagements aimed at providing education on digital banking, including safety tips.

Scotia Group Jamaica this year reported a decline in profits linked to the unexpected economic slowdown.

For the nine months ended July 31, Scotiabank recorded a net income of $5.5 billion down from $9.7 billion during the same period last year.

Total revenues amounted to $32.1 billion a reduction of $1.7 billion when compared to 2019.

 

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