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Scotia makes $142m for first quarter

Scotiabank Trinidad and Tobago Ltd has reported net income of $142.4 million for its first quarter ended January 31.

This was $0.8 million or one per cent above the quarter ended January 31 last year, the bank said in a statement yesterday.

Earnings per share for the quarter stood at 80.8 cents compared to 80.3 cents for the same period last year.

The board of directors yesterday approved a first interim dividend of 40 cents per stock unit payable on April 17 to stockholders on record as at March 19, 2013.

Scotiabank managing director Anya Schnoor said: "Scotiabank recorded consistent earnings during the first quarter led by loan growth in residential mortgages and consumer loans of seven per cent each relative to prior year as we continued our focus on growing market share."

The bank's total operating income, comprising net interest income and other income was $347.9 million for the three months ended January 31.

This represented improved earnings of 5.6 per cent or $18.3 million when compared to January 31, 2012.

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