The Globe and Mail reports in its Wednesday, Dec. 3, edition that Bank of Nova Scotia posted a jump in profit in fourth quarter results as activity in capital markets surged. The Globe's Stefanie Marotta writes that even after recording restructuring charges to cut costs in some of its units, Scotiabank's net income rose 31 per cent to $2.2-billion, or $1.65 per share, in the quarter ending Oct. 31 compared with the same period last year. Increased trading activity supported its capital markets division, bolstered by growth in its U.S. operations. The bank's adjusted return on equity improved to 12.5 per cent, edging closer to Scotiabank's target of 14 per cent. Chief executive officer Scott Thomson believes the bank will hit that goal earlier than expected. As mortgages continue to renew at higher rates and the bank adds to its deposit base, chief financial officer Raj Viswanathan said the Canadian banking division will be a key driver in increasing the lender's profits next year. Profit from capital markets jumped 50 per cent to $519-million on stronger activity in the U.S. This fiscal year marked the best performance for Scotiabank's underwriting advisory services, with fees climbing 35 per cent.