Scotiabank's Q4 2022 Earnings Affected by Nonrecurring Charges
The Bank of Nova Scotia reported Q4 2022 net income of $2.1 billion, a 19.3% quarter-over-quarter (QOQ) decline driven primarily by $522 million in nonrecurring charges ($361 million impact to noninterest income), which included a $340 million currency related loss from the divestiture of investments in Venezuela and Thailand and wind-down of operations in India and Malaysia.
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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