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Bank of Nova Scotia beats quarterly profit estimates

TORONTO, Feb 23 (Reuters) - Bank of Nova Scotia beat analyst estimates for first-quarter profit on Tuesday, as it set aside lower-than-expected funds for loan loss provisions and its wealth management unit performed well.

Net income excluding one-off items rose to C$2.4 billion ($1.90 billion), or C$1.88 a share, in the three months through January, compared with C$2.3 billion, or C$1.83, a year earlier. Analysts had expected C$1.57 a share, according to IBES data from Refinitiv.

Reported net income was C$2.4 billion, or C$1.86 a share, up from C$2.3 billion, or C$1.84, a year earlier. ($1 = 1.2615 Canadian dollars) (Reporting By Nichola Saminather and Noor Zainab Hussain; Editing by Krishna Chandra Eluri)

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