Bank of Nova Scotia profit rises 14 percent
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)
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.