Scotiabank has posted a net income of C$1.85bn for the third quarter of 2015, a fall of 21.43% compared to C$2.35bn in the year ago quarter.

For the quarter ended 31 July 2015, the bank’s net interest income was C$3.35bn, up 6.47% compared to C$3.15bn a year earlier.

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Total revenue decreased by 5.59% to C$6.12bn from C$6.49bn in the year ago period.

The Canadian arm of the bank registered a net income attributable to equity holders of C$863m for the third quarter, down 34.9% from C$1.33bn a year ago.

The international banking division recorded a net income attributable to equity holders of C$485m, up 11.23% from C$436m in the third quarter of 2015.

Net income attributable to equity holders in the global banking and markets unit stood at C$375m, a fall of 19.7% from C$467 in the prior year.

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Scotiabank president and CEO Brian Porter said: "We delivered solid third quarter results for shareholders, with strong earnings in our personal and commercial businesses in Canadian and International Banking. Our focus on customers across our diversified businesses contributed to our growth despite some challenging economic conditions.

"Canadian Banking had a strong quarter with underlying performance up 15%. All of its key business segments – retail and small business banking, commercial banking and wealth management – delivered very good growth. We continue to make investments to enhance customer experience and drive sustainable earnings growth."