Scotiabank on Tuesday announced slightly higher dividends and earnings in the third quarter ended July 31.
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Net profit rose in one year from $2.542 billion to $2.594 billion, while diluted earnings per share stood at $2.09 compared to $1.99 in the corresponding quarter of 2021.
For its part, adjusted net earnings also increased, from $2.56 billion to $2.611 billion between the two comparison periods. Adjusted diluted earnings per share reached $2.10 from $2.01 a year earlier.
Revenues rose from $7.757 billion to $7.799 billion in the space of a year.
Canadian Banking earnings rose 12% on strong growth in net interest income, while International Operations earnings jumped $28.
“Strong credit quality despite loan portfolio growth across all lines of business, prudent expense management and customer resilience were the highlights of the quarter, despite the less favorable macroeconomic backdrop,” said said Brian Porter, President and CEO of Scotiabank.