Scotiabank has reported attributable net income of C$1.86bn for the third quarter of 2016, up 5.2% compared to C$1.76bn a year ago.

For the quarter ended 31 July 2016, the bank's total revenue was C$6.64bn, a rise of 8.4% from C$6.12bn in the prior year.

Net interest income stood at C$3.6bn, an increase of 7.3% from C$3.35bn during the same period in 2015.

Non-interest income rose 9.6% to C$3.04bn from C$2.77bn a year earlier, while non-interest expenses increased 5.1% year-on-year to c$3.5bn.

The bank's provision for credit losses during the period was C$571m, up 18.9% compared to C$480m in the third quarter of 2015.

Scotiabank president and CEO Brian Porter said: “This quarter’s very good results were driven by strong operating performances in all three business lines. All of our businesses continue to grow and deepen customer relationships, which has delivered solid asset, deposit and revenue growth.

“Canadian Banking’s earnings grew to $930 million, up 8% compared to the third quarter last year. Continued focus on targeted asset and deposit growth to optimize business mix has contributed to a 13 basis point increase in margin. This combined with efforts to reduce structural costs has led to further improvements in operating leverage and the overall strong results this quarter.

“International Banking had another strong quarter with earnings of $527 million. Earnings increased 9% from last year driven principally by the Pacific Alliance countries of Mexico, Peru, Chile and Colombia. Strong volume growth, improved margins and good expense management all contributed to positive operating leverage. We are very pleased with continued strong quarterly results in International Banking and remain positive about the medium and longer term potential for these markets.”