The Bank of Nova Scotia reported a fourth-quarter profit increase, with earnings totaling C$2.104 billion or C$1.65 per share, beating Street estimates. Excluding items, adjusted earnings were C$2.558 billion or C$1.93 per share, surpassing analyst expectations of C$1.84 per share. Revenue rose 15.0% to C$9.803 billion. The growth in earnings was driven by higher net interest and non-interest income, partially offset by increased expenses and taxes. Net interest income increased to C$5.586 billion, while non-interest income rose to C$4.217 billion, driven by various factors including wealth management revenues and underwriting fees.

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