June 30, 2022

The Queens County Citizen

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Scotia’s profits rise to $ 1.9 billion

Scotia's profits rise to $ 1.9 billion

(Toronto) Scotia Bank reported that its fourth-quarter net income rose to $ 2.559 billion in 2020 from $ 1.899 billion, or $ 1.42 billion, or $ 1.97 per share this year.


Adjusted net income also increased from $ 1.938 billion or $ 1.45 to $ 2.716 billion or $ 2.10 per diluted share over the same period.

Scotiabank net income for the full 2021 financial year was $ 9.955 billion; It was $ 6.853 billion in 2020. Diluted earnings per share were at $ 7.70 compared to $ 5.30 in the previous year.

Adjusted net income rose to $ 10,169 billion from $ 6.961 billion in 2020, as the company’s earnings per capita for the 2021 financial year were $ 7.87, up from $ 5.36 in the previous year.

Scotiabank President and CEO Brian Porter noted that the company has exceeded its medium-term financial targets for the 2021 financial year. In his view, significant investments in digital devices have put Scotiabank in a favorable position to build a brighter future.

Brian Porter hopes that by 2022 all sectors of the banking business will achieve strong growth.

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