Scotiabank fourth-quarter profit rises on asset growth

Tue Dec 1, 2015 6:27am EST
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TORONTO Dec 1 (Reuters) - Bank of Nova Scotia, Canada's third-largest bank, reported a higher quarterly profit that beat market expectations on Tuesday, driven by robust asset growth and a benefit from favorable foreign exchange moves.

Net income for the quarter ended October 31 was C$1.84 billion, or C$1.45 per share, compared with C$1.44 billion, or C$1.10 per share, in the fourth quarter of 2014.

Analysts on average had expected earnings of C$1.43 a share, according to Thomson Reuters I/B/E/S. (Reporting by John Tilak; editing by Jason Neely)