Scotiabank Q2 2021 Improved on Lower PCL and Expenses
The Bank of Nova Scotia (Scotiabank or the Bank) reported a steadily improving operating environment and growing customer activity as revenue gradually recovers to a pre-Coronavirus Disease (COVID-19) level. For Q2 2021, the Bank reported net income of $2.5 billion, an increase of 2% quarter over quarter (QOQ), largely because of a decline in provision for credit losses (PCL) and non-interest expenses, partially offset by lower revenue.
Scotiabank is a financial services provider in North America, Latin America, the Caribbean and Central America, and parts of Asia. Through its three operating segments: Canadian Banking, International Banking, and Global Banking and Markets, Co. provides a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. As of Oct 31 2017, Co. had total assets of C$915,273 million and total deposits of C$625,367 million.
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