Bank of Nova Scotia profit rises 14 percent

TORONTO Tue May 27, 2014 6:24am EDT

TORONTO May 27 (Reuters) - Bank of Nova Scotia said on Tuesday its second-quarter profit rose 14 percent, due largely to higher income at its domestic banking and global wealth management units.

Scotiabank, Canada's No. 3 bank, earned a net C$1.80 billion ($1.66 billion), or C$1.39 a share, in the second quarter ended April 30, compared with C$1.58 billion, or C$1.22 a share, a year earlier.

The bank also said it planned to buy back up to 1 percent of its outstanding shares. ($1 = 1.0854 Canadian Dollars) (Reporting by Cameron French;Editing by Sofina Mirza-Reid)


After wave of QE, onus shifts to leaders to boost economy

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