RSS   Newsletter   Contact   Advertise with us
Post Online Media

Scotiabank Q1 net income $2,009 million

Scotiabank   Return on equity was 14.3%

Scotiabank reported first quarter net income of $2,009 million compared to $1,814 million in the same period last year.

Diluted earnings per share were $1.57, compared to $1.43 in the same period a year ago. Return on equity was 14.3% compared to 13.8% last year.

"All our businesses delivered strong results, contributing to solid top line growth and a continued improvement in efficiency," said Brian Porter, Scotiabank President and CEO.

"We continue to make good progress against our strategic agenda, which will create medium, as well as long-term, value for our shareholders, and improve our customers' experience.

"For example, we have opened 'Digital Factories' in Toronto, Mexico, Peru, Chile and Colombia that are delivering solutions to reduce friction points for our customers, reduce structural costs and improve the way we deliver products and services.

"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.

"We are pleased with the results in our Global Banking and Markets business, which continues to build on the good earnings we saw in the second half of 2016. Strong performance this quarter was driven by higher contributions in our fixed income and corporate lending businesses.

"The Bank's Common Equity Tier 1 capital ratio strengthened to 11.3% this quarter.

"Our strong capital position allows us to grow and make investments in our businesses as well as return capital to our shareholders.

"This quarter we announced a 2 cent increase in the quarterly dividend to 76 cents per share – up 6% from a year ago."


What to read next


POST Online Media does not use cookies to collect information about visitors.   OK, hide this message   Third party ads may be using cookies, you can see how here.