Focus on Indigenous Communities

Scotiabank’s CSR principles are built on the philosophical belief that every customer has the right to become better off. The Bank’s CSR strategy is encapsulated in this phrase, “Better Future, Better Off. By action through our priorities, we aim to create a better future for both society and Scotiabank.” This shared-value concept of mutuality is reflected in a corporate catch phrase – Building the Economy of Everyone.

Scotiabank’s social engagement is built around five strategic commitments. In actualizing the Company’s commitments, it seeks to address the priorities that are most important to the success of its customers, its business, and the communities in which it operates. The five strategic CSR commitments are to: Customers, Employees, Community, Environment and Corporate Governance – which requires the institution to act with integrity as it responds to the diverse and complex challenges, opportunities and interests it faces.

Scotia is a signatory to the UN millennium goals. At Scotiabank, investing in communities has been a focus for decades. In 2016, Scotiabank contributed over $70 million to help our communities around the world. In addition, Scotiabank employees dedicated more than 400,000 hours of volunteering and fundraising time to local causes.

Primary social investment targets are young people. This is consistent with the bank’s belief that investing in young people is the path to achieving long-term security, stability and prosperity for both communities and business.

Scotiabank supports organisations and programmes that are committed to helping young people reach their full potential, particularly in the areas of health, social well-being and education.

Scotiabank Guyana complies with corporate global guidelines for administering and deployment of CSR funding. Under the guidelines, the Bank will consider support for organisations that are either registered charities or non- profit organisations in their jurisdictions, organisations with a sustained record of achievement, and in programmes that have measurable impact.

Scotiabank Guyana’s CSR focus is in sports, education, arts and culture as well as health specific to HIV/AIDS and cancer. Funding is received from the corporate office under the Scotiabank Community Programme, where an established committee reviews CSR project submissions for financing. Under the Community Programme, employee volunteers raise funds through various activities and these are matched by the bank and gifted to successful organisations or charities.

Scotiabank’s community investment strategy relies on employee volunteerism and partnership with NGOs and CBOs to deliver approved programmes. Scotiabank Guyana employees through its branches, engage in fund-raising activities that further benefit from Scotiabank’s matching programmes and annual corporate donations. Scotiabank will match programmes up to the value of CAN $10,000.

Apart from Kiddy Cricket which aims to help primary school children develop a life-long passion for the game and has defined the Scotia brand in Guyana and the Caribbean since 2000, Scotiabank Guyana’s Community Programme is the main mechanism for stakeholder engagement and CSR investment and satisfies UN Sustainable Development Goals in health, education and inequality. The Bank has a rigorous monitoring and reporting system – especially for multi-year commitment and does due diligence on every project it supports.

Beneficiary organisations must be focused on improving the well‐being of youth and making a measurable impact on helping to develop children and young people under the age of 18 or young adult dependents up to the age of 25 years old who are enrolled in school.

Some programmes which have benefitted from the Scotiabank Community Programme are:- The Guyana Foundation which is focused on suicide prevention; the Tina Insanally Foundation which teaches music to under-privileged children; NGOs dedicated to cancer prevention programmes; Education and Health programmes through the local Lions or Rotary organisations; Habitat for Humanity; and Youth Entrepreneurship through a partnership with the Georgetown Chamber of Commerce. The Scotiabank Vision Achiever Programme LivePitch Business Plan competition which provides winners with GUY 500Kand a $250Kstart-up business account and business training through ActionCoach Guyana.

International Women’s Day (IWD) is big for the branches, which often support sponsorship of programmes, lectures and forums on issues affecting, or of interest, to women. The bank uses the opportunity to educate women in prudent financial management.

In recent years, the bank has focussed its attention on the country’s rural communities where issues of alcoholism, lack of educational and entertainment resources and unemployment drive some of the highest suicide rates per capita in the world. Through the Guyana Foundation Sunrise Centre, at risk persons are targeted with skills development programmes and counselling.

Through the Rotary Club of Georgetown, the Bank contributed to the production of a film focused on building awareness of suicide and mental health issues through public education. Film is used as a teaching tool, by interviewing survivors, affected families and community members to get perspectives and deepen understanding of causes and triggers and how to avoid or manage them. The film is scheduled for release by the end of 2017.

Business Profile 

Scotiabank is a leading multinational financial services provider and Canada’s most international bank. The bank provides innovative financial products and services to individuals, small and medium-size businesses, corporations and governments across Canada and around the world. 

Scotiabank employs some 90,000 persons. With over 23 million customers, Scotiabank is a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. 

In 2016 Scotiabank delivered strong operating and financial results, earning $7.4 billion in revenue. Growth was driven by steady performances in personal and commercial banking in Canada and internationally – approximately 80% of which was generated by Canada  alone. 

The bank’s strategy of diversification underpins our potential for sustainable earnings’ growth in each of our business lines: Canada Banking, International Banking and Global Banking and Markets, over the long term. 

Scotiabank has been operating in Guyana since 1968. The bank has five branches across the country and offers a complete range of retail and commercial banking services – including online banking and electronic cash management and Merchant Services. The Bank also offers business banking services to small and medium-sized businesses.