Canadian lender Scotiabank's profit jumps in first quarter

Canada's Bank of Nova Scotia on Tuesday reported higher first-quarter profit, as interest rates helped the lender earn more on its loans. Last year, the bank had reported a profit of C$1.76 billion or C$1.35 per share. ($1 = 1.3507 Canadian dollars)

Canada's Bank of Nova Scotia on Tuesday reported higher first-quarter profit, as interest rates helped the lender earn more on its loans. Profit for the three months ended Jan. 31 was C$2.2 billion ($1.6 billion) or C$1.68 per share. Last year, the bank had reported a profit of C$1.76 billion or C$1.35 per share.

($1 = 1.3507 Canadian dollars)