Bank of Nova Scotia, now Scotiabank Guyana Inc

– says no impact on customers

Effective November 1, 2025, The Bank of Nova Scotia (BNS) will transfer its Guyana banking operations to Scotiabank Guyana Inc (SGI), a locally registered company which is a direct, wholly owned subsidiary of Bank of Nova Scotia Canada.
A media release from the bank on Wednesday advised that SGI has already been incorporated in Guyana and has been granted a licence to conduct banking business and provide financial services under the Financial Institutions Act.
This transfer will have no impact on customers, employees, suppliers, or any other stakeholder, it added.
The Bank of Nova Scotia has been operating as a branch in Guyana since 1968 but has taken the decision to reorganise its business for greater efficiency and capital management. This structure is in alignment with Scotiabank’s other global operations, including those in the Caribbean region (The Bahamas, Barbados, Cayman, Dominican Republic, Jamaica, Trinidad & Tobago and Turks & Caicos) and Latin America (Brazil, Chile, Mexico, Peru), which operate as subsidiaries.
The main change resulting from this reorganisation is the new name of the company, the release pointed out. Clients and suppliers already know the bank as Scotiabank but will now start to see the new name of “Scotiabank Guyana Inc.” as its legal name, as opposed to the previous name “The Bank of Nova Scotia”.
Jabar Singh, President & CEO, Scotiabank Colpatria (Colombia), Head, Scotiabank Caribbean and Central America, reinforced the Bank’s commitment to growing its business in Guyana under the new legal structure, indicating, “We have made several recent investments, including technology enhancements to our mobile app, the introduction of payment solutions for retail self-checkout kiosks, the digitisation of our client onboarding process, expansion of our ABM footprint, and incremental bandwidth upgrades. The Bank also plans to expand its client coverage and business portfolio in Guyana. This includes enhancements to Global Transaction Banking (GTB) products and services and Global Banking and Markets (GBM) services such as investment banking, cash management and trade finance.”