Quarterly Profit For Scotiabank Increased by 9 Per Cent

A report was made by Scotiabank concerning the net income, which has gone up by nine percent in the fourth-quarter, likened to that of last year’s own during the same period.

For three consecutive months that ended in October, the bank disclosed $2.01 billion of net income during that time, which increased from $1.84 in the previous year. The share totaled to $1.57 each, with an increase of eight per cent $1.45 per share in the fourth quarter.

The revenue for Scotiabank went up from $6.13 billion to $6.75 million for the quarter. The provision that was made for the loss of credit decreased by $1 million from the previous year to $550 million. The Scotiabank’s net income amounted to $7.37 billion for the whole 2016 fiscal year, which completed in October. Each diluted share was $5.77, which increased from $7.21 billion from the previous $5.67 share in the financial year of 2015.


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