Bank of Nova Scotia is reporting an 11% jump in profit for the second quarter April 30.

Net income for the quarter was $598 million, or $1.11 a share, up from $539 million, or $1.01, in the same period a year ago.

The bank says a strong showing by the domestic banking group, which accounts for half of Scotiabank’s net income, helped boost profits.

Total revenue was $2.8 billion, compared with $2.6 billion last year. Return on equity, the excluding the bank’s Argentine unit, rose to 18.3% from 17.9%.

Loan loss provisions were at $350 million for the quarter, unchanged from the first quarter. They exclude the $500 million established for Argentine risk earlier.

The bank says total provisions are expected to decline for the rest of the year, excluding Argentina.

The bank’s productivity ratio of 54.3%, compared to 53.7%, while the Tier 1 capital ratio rose to 9.9%, up 90 basis points

“The quarter was marked by double-digit increases in both net income and earnings per share. This growth was attributable to our first-rate execution and an unwavering focus on customer satisfaction,” said Peter Godsoe, chairman and CEO.

The bank approved a quarterly dividend of 37¢ per common share.