Scotiabank is one of North America's leading financial institutions and Canada's most international bank, operating in some 50 countries around the world.
The operations of Scotiabank in Guyana are considered a "branch" of Scotiabank, which is headquartered in Canada and which provides the Guyana operations with financial and other related support.
Scotiabank Guyana Branch is committed to providing timely, accurate and balanced disclosure of all material information about the Branch and to providing fair and equal access to such information.
There is no direct market participation in Scotiabank Guyana Branch. Market participants or potential investors are therefore asked to visit the Scotiabank website for market information.
In accordance with the requirements of Bank of Guyana's Supervision Guideline #10 – Public Disclosure of Information - which came into effect on April 1, 2013, the financial information contained herein represents Scotiabank Guyana Branch's financial position and financial performance.
These quarterly condensed financial statements have been prepared to comply with Bank of Guyana's Supervision Guideline #10 – Public Disclosure of Information, which requires the condensed financial statements of Scotiabank Guyana Branch to be prepared on a quarterly calendar basis which differs from Scotiabank's fiscal quarterly periods.
The accounting policies used in the preparation of the quarterly condensed financial statements are the same as per the annual financial statements as at October 31, 2013.
These quarterly financial indicators are prepared on a calendar period basis as required by Bank of Guyana.
Please read the following notes as part of your review of the Quarterly Financial Indicators as they will aid the interpretation of Scotiabank Guyana Branch's performance as compared to other commercial banks operating in Guyana.
- Capital for the Guyana operation is established to satisfy local regulatory requirements and all ratios are computed on levels of capital maintained only in Guyana
- Related Party ratios are not applicable to Scotiabank Guyana in view of the definition of Related Parties - Related Parties include directors, senior officers and shareholders with 20% or more shares who are accorded lending facilities as stipulated under Section 14 of the Financial Institution Act 1995
Our corporate governance policies are designed to ensure the independence of the Board of Directors and its ability to effectively supervise management's operation of the Bank.