by Amruth Sundarkumar | May 26, 2022 | Banks
Canada’s Scotiabank reported a 12% YoY increase in net profits at C$2.74bn ($2.14bn) for its quarter ending April 2022. Net interest income was up 7% to C$4.47bn ($3.43bn), driven by a strong 13% loan growth. Net interest margin dipped 3bps YoY to 2.23%. Total...
by Amruth Sundarkumar | Mar 2, 2022 | Banks
Scotiabank reported Q1 2022 net income of CAD 2.74bn ($2.2bn), up 14% YoY and EPS of CAD 2.15 as compared to CAD 1.88 ($1.5) last year and beating analyst estimates of CAD 2.05 ($1.6). Canadian Banking generated earnings of CAD 1.2bn ($940mn), up 32% YoY and...
by Amruth Sundarkumar | Dec 1, 2021 | Banks
Scotiabank reported its 4Q2021 results with net income up 35% YoY to CAD 2.6bn ($2bn). Profits were helped by a reduction in provisions to CAD 168mn ($132mn) from CAD 1.1bn ($860mn) a year ago. The lender also announced its first dividend hike in nine quarters by 10...
by Megha Malhotra | Aug 25, 2021 | Financial News, Macroeconomic news
Toronto-based banking majors Bank of Nova Scotia (Scotiabank) and Bank of Montreal (BMO) reported earnings for their third quarter ended July 31 on Tuesday. Scotiabank reported a 95% YoY surge in net income to CAD 2.5bn ($2.01bn). However, pre-tax pre-provision (PTPP)...
by Amruth Sundarkumar | Jun 2, 2021 | Banks
Scotiabank reported its Q2 results for the quarter ended April with net income of C$2.46bn ($2.04bn), up over 85% YoY. Profits were boosted by lower provisions, with provisions for credit losses of C$496mn ($411mn), down from C$1.8bn ($1.5bn) a year earlier. This...
