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Scotiabank named as Guyana’s Bank of the year
(Kaieteur News) – Scotiabank Guyana has been awarded the prestigious title of Bank of the Year 2025 by The Banker magazine; a Financial Times publication recognised globally as the benchmark for banking excellence.
This accolade celebrates institutions that demonstrate strong financial performance, invest in technology, and deliver exceptional service while supporting their communities, Scotiabank said in a press release. Earlier this year, Scotiabank Guyana also received Best Bank 2025 from Global Finance, reinforcing its leadership in the financial sector.
Nafeeza Gaffoor, Country Manager, Scotiabank Guyana
Nafeeza Gaffoor, Country Manager, Scotiabank Guyana, shared her excitement about the achievement. “This recognition is a testament to our relentless focus on making banking easier, faster, and more secure for our clients. We are committed to putting clients first, leading with advice and delivering innovative, secure, and convenient banking solutions. Over the past year, we have accelerated our digital transformation through the continued introduction of innovative tools and services that empower clients to manage their finances conveniently and confidently. I am deeply grateful to our clients for their trust and to our employees for their passion and commitment to delivering a truly client-centric experience.”
Key Innovations Driving This Recognition:
- Redesigned Mobile Banking: A fully enhanced way for clients to bank 24/7 from their mobile phones via the Scotia Caribbean App, offering a secure and intuitive experience.
- Upgraded Online Banking: The Scotia OnLine Banking platform now includes one-time password protection and expanded bill payment options for greater convenience.
- Launched Online Account Opening: digital onboarding process via the Scotia Caribbean App and Scotia OnLine Banking enabling clients to open accounts seamlessly anytime, anywhere.
- Expanded ATM Network: A broader and more accessible ATM footprint to improve client access to cash and banking services.
- Innovative Merchant Solutions: Introduction of secure and advanced payment options, including a proprietary application that integrates unmanned kiosks for effortless, secure transactions.
Scotiabank also earned Bank of the Year 2025 titles in Bahamas, Barbados, Jamaica, Trinidad & Tobago, and Turks & Caicos, reinforcing its position as a leading financial institution across the region.
In the citation for the award, The Banker magazine said that in October 2025, the Guyana government called on the country’s banks to accelerate digitalisation and modernise their services to improve access to financial products and promote greater inclusion.
In this context, Scotiabank Guyana stands out for the progress it has already made, driven by a combination of digital innovation and sustainability-focused community initiatives. The bank is investing heavily in its ATM network nationwide, rolling out a new generation of intelligent deposit machines with touch screen interfaces and expanded functionality. These upgraded machines allow customers to complete more transactions independently, migrating routine teller activity to the digital channel and delivering a readily available and more convenient service.
According to Scotiabank Guyana, the initiative also enables branch staff to focus on higher value interactions, combining technology with personal service to modernise the bank’s operations and improve access for clients.
Meanwhile, the bank says its Scotia Caribbean app and Scotia Online platform offer multiple distinct digital banking features, including biometric sign-in, enhanced fraud detection and online account opening. “Scotiabank Guyana is committed to putting clients first, leading with advice and delivering innovative, secure and convenient banking solutions,” says Nafeeza Gaffoor, the bank’s country manager. “Over the past year, we’ve accelerated our digital transformation by enhancing our mobile app, expanding digital and merchant services, upgrading ATMs and strengthening security features, ensuring our clients enjoy seamless access to financial services anytime, anywhere.”
These and other efforts have translated into a strong set of financial results. The lender’s net profits grew by 32 per cent in 2024, while its return on equity climbed from 8.9 per cent to 11.4 per cent over the same period. Total assets and Tier 1 capital increased by 24 per cent and 6 per cent, respectively.
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