Scotiabank Jamaica closes two branches; six going digital

Scotiabank said six of its branches will be moving to its digital model come the New Year.

Scotiabank Jamaica has announced the coming closure of two of its branches and the conversion of another six to its digital model come 2021.

Scotiabank said its Black River and Old Harbour locations will be cut as it makes changes to its branch network in keeping with organisational needs and customer preferences.

“Branch traffic in some locations have been reduced by as much as 50 per cent as customers continue to utilise digital banking platforms.”

– Scotia Group Jamaica President and CEO David Noel

The institution said the operations of the Black River and Old Harbour branches will be consolidated into the Santa Cruz and May Pen branches, respectively. Black River’s branch will close in February 2021, with Old Harbour to follow in April.

Six branches — Christiana, Falmouth, Portmore, Port Antonio, Port Maria, and St Ann’s Bay — will  move to the company’s digital operating model come January.

Scotia Group Jamaica President and CEO David Noel the changes are in keeping with customer changes accelerated by the coronavirus pandemic.

Noel shared, “Branch traffic in some locations have been reduced by as much as 50 per cent as customers continue to utilise digital banking platforms. As at September 2020, branch transactions represented less than six per cent of total transactions while online and mobile transactions accounted for over 30 per cent…”