hi-scotiabank-waugh

Rick Waugh led the bank to a record annual profit. (Canadian Press)

Bank of Nova Scotia reports it had a record annual profit of nearly $6.7 billion in 2013.

That included $1.7 billion of net income in the three months ended Oct. 31 — up 12 per cent from last year's fiscal fourth quarter, but down from $1.77 billion in the previous quarter ended July 31.

Scotiabank also says it earned $1.30 per share of net income in the fourth quarter, up from $1.18 a year earlier.

Earnings per share under standard accounting was in line with analyst estimates of $1.30 per share.

Scotiabank's next dividend will be 62 cents per share.