October 31, 2011 / 9:10 PM / in 6 years

Scotiabank earns C$56 mln from Mexico unit

TORONTO, Oct 31 (Reuters) - Bank of Nova Scotia (BNS.TO) said on Monday its wholly owned Mexican subsidiary will contribute C$56 million ($56 million) to the Canadian bank’s fourth-quarter profit.

Canada’s No. 3 lender said Grupo Scotiabank - or Scotiabank Mexico - earned a net C$59 million in the third quarter ended Sept. 30.

While Grupo Scotiabank’s fiscal year ends Dec. 31, the fiscal year for the parent company ends Oct. 31.

Grupo Scotiabank’s result compared with a year-before profit of C$44 million. The bank said the increase was due to higher non-interest revenue and lower provisions for bad loans.

Scotiabank will release its fourth-quarter results on Dec. 2.

$1=$1.00 Canadian Reporting by Cameron French; editing by Peter Galloway

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