Scotiabank reported first-quarter fiscal 2025 adjusted net income of $2.362 billion, a 7% increase year-on-year, with adjusted earnings per share of $1.76 and an adjusted return on equity of 11.8%. The results were released on 25 February 2025.
Reported net income for the quarter was $993 million, or $0.66 per share, after the bank recognised a $1.355 billion impairment charge linked to the agreed sale of its banking operations in Colombia, Costa Rica and Panama to Davivienda. Total revenue for the quarter reached $9.372 billion.
INTERNATIONAL BANKING
International Banking generated adjusted earnings of $692 million in the quarter, a 7% decline year-on-year, reflecting more normalised business banking and capital markets performance relative to record results a year earlier.
CANADIAN BANKING
Canadian Banking adjusted earnings fell 6% to $914 million, as solid loan and deposit growth was more than offset by higher provisions for credit losses and expenses. The group adjusted result of $2.362 billion excludes the impairment and other non-recurring items; adjusted return on equity was 11.8% compared with 11.9% a year earlier.
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