Bank of Nova Scotia said today that its third-quarter profit rose 7%, boosted by the strong performance at each of the bank’s three main divisions.
Net income rose to $784 million, or 77¢ a share, in the three months ended July 31, up from $731 million, or 71¢, in the year before quarter.
Revenue rose to $2.69 billion from $2.53 billion.
Loan loss provisions, money set aside for bad loans, rose to $85 million in the quarter from $50 million in the prior-year period.
Return on equity climbed to 19.9% in the quarter from 19.4%.
“This quarter’s results reflect strong broad-based gains across all three of our growth platforms — Domestic Banking, Scotia Capital and International
Banking — continuing the success of our strategy of diversifying geographically across business lines,” said Rick Waugh, president and CEO, in a release.