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Scotiabank posts higher second quarter net profit of $1.8B on increased revenues
TORONTO – Scotiabank (TSX:BNS) is reporting a higher second-quarter net income of $1.8 billion, helped by its Canadian banking and global wealth and insurance segments.
That’s up 14 per cent from $1.58 billion in the same quarter of 2013.
Earnings per share diluted were $1.39 compared with $1.22 year-over-year.
Adjusted diluted earnings per share were $1.40, beating analysts’ estimates of $1.31.
Total revenue was $5.7 billion compared with $5.3 billion in the same quarter last year and return on equity was 16.3 per cent, up from 16.5 per cent.
Scotiabank is the third of the big banks to report second-quarter earnings after Royal Bank (TSX:RY) and TD Bank (TSX:TD), which also posted healthy profits.
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