(Toronto) Scotiabank reports that in one year, its fourth-quarter net income increased from 1.899 billion or $ 1.42 per diluted share in 2020 to 2.559 billion or $ 1.97 per diluted share this year.
Adjusted net income also rose over the same period, from $ 1.938 billion, or $ 1.45 per diluted share, to $ 2.716 billion, or $ 2.10 per diluted share.
Scotiabank reports that for the full 2021 fiscal year, net income was $ 9.955 billion; it was $ 6.853 billion in 2020. Diluted earnings per share stood at $ 7.70, compared to $ 5.30 a year earlier.
Adjusted net income increased from $ 6.961 billion in 2020 to $ 10,169 billion in fiscal 2021 as diluted earnings per share stood at $ 7.87, compared to $ 5.36 in the prior year.
Scotiabank President and CEO Brian Porter observed that the institution exceeded its medium-term financial goals for fiscal year 2021. In his opinion, significant investments in digital tools place Scotiabank in a favorable position to build a bright future.
Brian Porter expects all areas of the bank’s business to experience strong growth in 2022.