Scotia Group Reports Strong Financial Performance for First Half of 2024
Scotia Group has announced a net income of $8.54 billion for the six months ending April 30, 2024, reflecting a substantial increase of $1.1 billion, or 14%, compared to the same period last year.
For the second quarter, the bank reported a net income of $5.4 billion, marking a significant rise of $2.3 billion from the previous quarter.
Scotia Group attributes this strong performance to robust growth across its business lines, prudent risk management, and efficient operations management.
The bank highlighted the exceptional performance of its loan portfolio as a key factor in its growth.
Additionally, deposits grew by $26.9 billion, or 6.1%, reaching a total of $464.4 billion.
The Board of Directors has approved a dividend of 40 cents per stock unit for the second quarter.
This dividend will be payable on July 18 to stockholders of record as of June 26.
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