Bank Of Nova Scotia (TSE:BNS) has released an update.
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Scotiabank showcased a robust first quarter in 2024, with a reported net income increase to $2,199 million from last year’s $1,758 million, while earnings per share (EPS) rose from $1.35 to $1.68. Despite a strong overall performance, adjusted earnings were slightly down with net income at $2,212 million and EPS at $1.69, compared to the previous year’s $1.84 EPS and a higher return on equity. The bank attributes its solid earnings to revenue growth, margin expansion, and disciplined expense management, alongside an improvement in their Common Equity Tier 1 capital ratio to 12.9%.
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