Scotia Group Jamaica, SGJ, the second-largest banking conglomerate, reported $2.8 billion in net profit for the July 2021 third quarter, or nearly double last year’s levels, but still down by one-third over 2019 pre-pandemic levels.

“Recovery is imminent,” said SGJ President and CEO Audrey Tugwell-Henry at a press briefing held online on Thursday. “We are not there yet, but we feel it is imminent.”

That’s due to the expected recovery in the various segments of the group within a fairly optimistic economic outlook. But the path to recovery requires the group earning billions more both on the top line and bottom line.