Scotiabank profit rises 10% to $2.01B of net income

Scotiabank had $2.01 billion of net income during the first quarter, up 10 per cent from the same period last year on strong results from its Canadian and international banking operations, according to results released early Tuesday.

The earnings amounted to $1.57 per diluted share, up from $1.43 per diluted share a year ago, when Scotiabank had had $1.81 billion of net income during the first quarter.

• Scotiabank's Q4 profit up 9%, to $2.01 billion

After adjustments, Scotiabank had $1.58 of earnings per diluted share one cent higher than analyst estimates, according to Thomson Reuters data.

The bank also announced it had $6.87 billion of revenue during the quarter, up $500 million from $6.37 billion during the first period of last year.

Scotiabank said its dividend will go up by two cents to 76 cents per share, payable on April 26.

"Canadian banking had another strong quarter, achieving solid results while investing in digital capabilities to improve customer experience," Brian Porter, Scotiabank president and CEO, said in a statement.