Bank of Nova Scotia had $2.01 billion of net income during the first quarter, up 10% from the same period last year on strong results from its Canadian and international banking operations.
The earnings amounted to $1.57 per diluted share, up from $1.43 per diluted share a year ago, when Scotiabank had had $1.81 billion of net income during the first quarter.
After adjustments, Scotiabank had $1.58 of earnings per diluted share — 1¢ higher than analyst estimates, according to Thomson Reuters data.
The Toronto-based bank also announced it had $6.87 billion of revenue during the quarter, up $500 million from $6.37 billion during the first period of last year.
Scotiabank says its dividend will go up by 2¢ to 76¢ per share, payable on April 26.
“Canadian banking had another strong quarter, achieving solid results while investing in digital capabilities to improve customer experience,” Brian Porter, Scotiabank president and CEO, says in a statement.
“International banking continues to generate momentum with record quarterly results reflecting the sixth consecutive quarter of earnings exceeding $500 million. The results were underpinned by solid growth in our key Pacific Alliance countries where we continue to see great potential.”