Excluding one-time items, Bank of Nova Scotia reported earnings per share of $1.85 in the latest quarter, down from $2.15 a year earlier
reported a lower first-quarter profit on Tuesday, as a lull in its investment banking division dented income from its capital markets unit and compelled the Canadian lender to set aside higher provisions.
Canada’s central bank over the past 11 months has lifted interest rates at a record pace to 4.5% to tame inflation, which was 6.3% in December, still well above the bank’s 2% target. Last month, the Bank of Canada said it would hold off on further moves to let the effects of past rate hikes sink in. But net interest income, which rose nearly 5% to $4.57 billion during the three-month period ended Jan. 31, has been a bright spot so far as the relentless monetary policy tightening campaign raised interest rates at the fastest pace in decades and expanded the margins banks earn from cost of borrowing and rate of lending.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Scotiabank misses expectations as profit slipsScotiabank profit missed expectations as the bank set more money aside for potentially bad loans and was hit with higher expenses. Read on
Read more »
'You’re really helping somebody in great need,' Nova Scotia stem cell donor says | SaltWireIf you’re accepted as a stem cell donor, it’s likely you’ll never get a call to actually donate. But if you do donate, odds are you’ll save somebody’s ...
Read more »
Kori Cheverie leads Team Nova Scotia's female hockey team at Canada Games | SaltWireBriden Cohen is serving as an assistant coach and Janice Rehill, also of New Glasgow, is the team manager
Read more »
THINKING OUT LOUD: Ecojustice and political economics in Nova Scotia | SaltWireIt’s a trend in Nova Scotia where citizens and non-profit groups are looking to the courts to rule on government decisions. The latest involves an appeal ...
Read more »
Pharmacare gap for colostomy equipment upsets Nova Scotia family | SaltWireAn apparent gap in Pharmacare coverage for colostomy equipment has upset a West Hants family. Helen Tufts of Ellershouse said her mother will be forced to ...
Read more »
Black educators: Inspiring youth in Cape Breton and Nova Scotia | SaltWireSYDNEY — Less than 70 years ago, Black teachers couldn't teach in all classrooms in Nova Scotia. Education in the province was legally segregated until ...
Read more »