The Bank of Nova Scotia reports significant increase to service revenue

The bank of Nova Scotia has released first quarter financial statements for accounting period ended January 31, 2022. The charted bank's first quarter total revenue is $8049 million, 5% more than last quarters total revenue. The net income and EPS is $2758 million and $2.15, respectively. The reported EPS is significantly higher than Wall Street's analysts consensus EPS of $2.05 for the first quarter. The increase in the banking institutions bottom line comes on the heels of the a recent accomplishment. In December, the Bank of Nova Scotia was named the Bank of the Year in Canada by The Banker magazine for the third consecutive year, further solidifying its role as a leading bank in the Americas. During a recent press conference, Brian Porter, the president and CEO of the Bank of Nova Scotia said, "2022 has started well reflecting the full earnings power of the Bank, with very strong operating results in all our four business lines. This quarter had strong loan growth, along with good fee income growth."