(Toronto) Scotiabank’s first-quarter fiscal 2022 net income was $2.74 billion compared to $2.398 billion in the same quarter last year. Diluted earnings per share increased during the same period from $1.86 to $2.14.
Posted at 8:08
Adjusted net earnings rose from $2.418 billion to $2.758 billion while diluted earnings per share rose from $1.88 to $2.15.
The institution specifies that the adjusted net income generated during the quarter by the Canadian Network increased by 32% compared to the previous year, thanks, in particular, to the increase in income.
Adjusted net income from International Operations increased by 38% compared to the previous year.
Scotiabank President and CEO Brian Porter attributes the strong start to 2022 to the four lines of business that have delivered very strong operating results. He observed that the quarter was marked by strong growth in loans and fee income.