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Scotiabank . Second Quarter 2021 Earnings Release Scotiabank reports second quarter results All amounts are in Canadian dollars and are based on our unaudited Interim Condensed Consolidated Financial Statements for the quarter ended April 30 , 2021 and related notes prepared in accordance with International Financial Reporting Standards ( IFRS ) , unless otherwise noted . Our complete Second Quarter 2021 Report to Shareholders , including our unaudited interim financial statements for the period ended April 30 , 2021 , can also be found on the SEDAR website at www.sedar.com and on the EDGAR section of the SEC's website at www.sec.gov . Supplementary Financial Information is also available , together with the Second Quarter 2021 Report to Shareholders on the Investor Relations page of www.scotiabank.com Second Quarter Highlights on a Reported basis ( versus Q2 2020 ) Net income of $ 2,456 million , compared to $ 1,324 million • Earnings per share ( diluted ) of $ 1.88 , compared to $ 1.00 Return on equity of 14.8 % , compared to 7.9 % Second Quarter Highlights on an Adjusted basis ( 1 ) ( versus Q2 2020 ) Net income of $ 2,475 million , compared to $ 1,371 million Earnings per share ( diluted ) of $ 1.90 , compared to $ 1.04 Return on equity of 14.9 % , compared to 8.2 % TORONTO , June 1 , 2021 - Scotiabank reported second quarter net income of $ 2,456 million compared to $ 1,324 million in the same period last year . Diluted earnings per share ( EPS ) was $ 1.88 , up 88 % from $ 1.00 in the previous year . Return on equity was 14.8 % , up from 7.9 % in the previous year . Adjusted net income ( 1 ) increased 81 % to $ 2,475 million and EPS of $ 1.90 , increased 83 % compared to the prior year . Return on equity was 14.9 % compared to 8.2 % a year ago . " We delivered another quarter of strong results reflecting the strength of our diversified business platform , and the solid economic recovery underway in our core markets , " said Brian Porter , President and CEO , Scotiabank . " Our commitment to superior customer service was recognized in the J.D. Power 2021 Canada Retail Banking Satisfaction Study where the Bank rose to # 2 among large banks and Tangerine was recognized as number one for the tenth consecutive year among mid - sized retail banks . Our commitment to strong ESG practices was also recognized with a rating of " AAA " in the MSCI ESG Ratings ( 2 ) assessment , a rating held by only 2 % of banks globally . We are very proud of these accomplishments . " Canadian Banking generated earnings of $ 931 million with a strong rebound in fee income , lower provision for credit losses , as well as solid asset and deposit growth . Global Wealth Management's earnings of $ 378 million were supported by strong revenue growth , positive operating leverage for the sixth consecutive quarter , and strong net sales . AUM and AUA increased 19 % and 20 % from the prior year , respectively . Global Banking and Markets reported earnings of $ 517 million , driven by continued solid performance in the capital markets business , particularly equities , good deposit growth and lower provision for credit losses . The advisory pipeline remains strong for the balance of the year . International Banking generated earnings of $ 429 million , trending positively from the prior quarter , aided by strong economic recovery across the Pacific Alliance . The Bank reported a Common Equity Tier 1 capital ratio of 12.3 % , and remains very well capitalized to support its strategic growth plans . ( 1 ) Refer to Non - GAAP Measures section on page 2 . ( 2 ) The use by Scotiabank of any MSCI ESG Research LLC or its affiliates ( " MSCI " ) data , and the use of MSCI logos , trademarks , service marks or index names herein , do not constitute a sponsorship , endorsement , recommendation , or promotion of Scotiabank by MSCI . MSCI services and data are the property of MSCI or its information providers , and are provided ' as - is ' and without warranty . MSCI names and logos are trademarks or service marks of MSCI . Scotiabank Second Quarter Press Release 2021 1