Scotiabank Reports Sequential Decline in Q3 2022 Earnings on Lower Capital Markets Revenue and Higher Provisions
The Bank of Nova Scotia (Scotiabank or the Bank) reported Q3 2022 net income of $2.6 billion,representing a 5.6% quarter over quarter (QOQ) decline driven primarily by lower revenues and higher
provisions for credit losses (PCL).
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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