Scotiabank’s third-quarter net income rose to 2.95 billion Canadian dollars (US$2.13 billion), or C$2.27 a share, from C$2.53 billion, or C$2, a year earlier. Adjusted earnings of C$2.28 a share exceeded the C$2.10 mean analyst forecast. Revenue increased 11% to C$10.54 billion, driven by strong results in global wealth management and global banking and markets.

Net interest income rose 6.8% to C$5.87 billion, while noninterest revenue increased 17% to C$4.67 billion. Return on equity widened to 14.1% from 13.1% the prior quarter and 12.2% a year ago. Provisions for credit losses totaled C$1.08 billion, down from C$1.22 billion the prior quarter but above last year’s C$1.04 billion.

Common equity tier 1 ratio narrowed to 13.1% from 13.3%, remaining above the 11% regulatory minimum. Scotiabank cited ongoing trade and geopolitical tensions, including U.S. tariffs on Canadian imports, as headwinds, though noted strong domestic conditions and fiscal support may offset impacts. The bank has refocused on core North American operations, including its $2.8 billion investment in Key Corp for a ~15% stake, the sale of Latin American businesses to Banco Davivienda, the agreed purchase of Texas-based Maple Financial, and a proposal to acquire full control of Scotia Group Jamaica for about C$500 million.