Scotiabank Q4 Results Rise, But Miss Estimates; Declares Dividend - Quick Facts

(RTTNews) - Canadian lender Bank of Nova Scotia, called as Scotiabank, (BNS.TO, BNS) reported Tuesday that its fourth-quarter net income attributable to common shareholders increased to C$1.99 billion from last year's C$1.93 billion.

Earnings per share of C$1.64 grew 4 percent from C$1.57 last year.

Adjusted attributable net income was C$2.01 billion, compared to C$1.94 billion a year ago. Adjusted earnings per share were C$1.65, compared to C$1.58 last year.

Total revenue was C$6.81 billion, higher than C$6.75 billion last year.

On average, analysts polled by Thomson Reuters expected earnings of C$1.66 per share on revenues of C$7.08 billion for the quarter. Analysts' estimates typically exclude special items.

Net interest income was C$3.83 billion, up from C$3.65 billion a year ago. Non-interest income, meanwhile, declined to C$2.98 billion from C$3.10 billion a year ago.

Brian Porter, President and CEO, said, "During 2017, we delivered strong results in all three of our businesses. As well, the Bank is making good progress on its digital strategy, with our Digital Factory Network fully operational across our five key markets of Canada, Mexico, Peru, Chile and Colombia to collaborate, innovate and strengthen our customer experience and efficiency levels."

Separately, Scotiabank announced a dividend of C$0.79 per share for the quarter ending January 31, 2018, payable January 29, to shareholders of record at the close of business on January 2, 2018.