Â鶹´«Ã½

Business

    • Scotiabank reports $2.09B Q2 profit, down from $2.15B a year earlier

    Scotiabank signage is pictured in the financial district in Toronto, Friday, Sept. 8, 2023. THE CANADIAN PRESS/Andrew Lahodynskyj Scotiabank signage is pictured in the financial district in Toronto, Friday, Sept. 8, 2023. THE CANADIAN PRESS/Andrew Lahodynskyj
    Share

    The Bank of Nova Scotia reported its second-quarter profit fell compared with a year ago as it set aside more money for loan losses.

    The bank said Tuesday its net income fell to $2.09 billion or $1.57 per diluted share for the quarter ended April 30, down from $2.15 billion or $1.68 per diluted share in the same quarter last year.

    Revenue totalled $8.35 billion, up from $7.91 billion a year earlier.

    The bank's provision for credit losses for the quarter amounted to $1.01 billion, up from $709 million in the same quarter last year.

    On an adjusted basis, Scotiabank says it earned $1.58 per diluted share in its latest quarter, down from an adjusted profit of $1.69 per diluted share a year earlier.

    The average analyst estimate had been for a profit of $1.56 per share, according to data provided by LSEG Data & Analytics.

    "The bank delivered solid results this quarter against a backdrop of ongoing macroeconomic uncertainty, reporting positive operating leverage driven by revenue growth and continued expense discipline," Scotiabank chief executive Scott Thomson said in a statement.

    Scotiabank said its net income attributable to equity holders for its Canadian banking business totalled $1.01 billion, down from $1.06 billion a year earlier primarily to a higher provision for credit losses and non-interest expenses, partly offset by higher revenues.

    Meanwhile, it said its international banking operations earned net income attributable to equity holders of $671 million, up from $636 million in the same quarter last year.

    The bank's global wealth management business earned $380 million in net income attributable to equity holders, up from $353 million a year earlier, while its global banking and markets business earned $428 million in net income attributable to equity holders, up from $401 million a year ago.

    Scotiabank's "other" category reported a net loss attributable to equity holders of $421 million in its latest quarter, compared with a loss of $323 million last year.

    This report by The Canadian Press was first published May 28, 2024.

    CTVNews.ca Top Stories

    A 72-year-old inmate serving a life sentence for a brutal murder that happened in Chilliwack in 2016 has died, according to the Correctional Service of Canada.

    A U.S. driver somehow squeezed her vehicle through a parkade hallway at a Metro Vancouver casino Thursday, before getting stuck at an elevator bank.

    A tale about a taxicab hauling gold and sinking through the ice on Larder Lake, Ont., in December 1937 has captivated a man from that town for decades.

    Two Italian citizens have been apprehended after allegedly illegally crossing over the International Railroad Bridge to the United States.

    A former Canadian military reservist has been sentenced to house arrest after posting a video of himself firing a shotgun at a picture of a member of Parliament whom he accused of being a 'communist agent' for China.

    More than 550 symptomatic people responded to an online questionnaire about a gastrointestinal illness at a Prince Edward Island shellfish festival last weekend.

    The family of Jon Wells, a man who died in an incident involving Calgary police earlier this month, say they are seeking time to grieve their loss.

    Canada

    • A 72-year-old inmate serving a life sentence for a brutal murder that happened in Chilliwack in 2016 has died, according to the Correctional Service of Canada.

    • Two Italian citizens have been apprehended after allegedly illegally crossing over the International Railroad Bridge to the United States.

    • A U.S. driver somehow squeezed her vehicle through a parkade hallway at a Metro Vancouver casino Thursday, before getting stuck at an elevator bank.

    • More than 550 symptomatic people responded to an online questionnaire about a gastrointestinal illness at a Prince Edward Island shellfish festival last weekend.

    • A tale about a taxicab hauling gold and sinking through the ice on Larder Lake, Ont., in December 1937 has captivated a man from that town for decades.

    • The family of Jon Wells, a man who died in an incident involving Calgary police earlier this month, say they are seeking time to grieve their loss.

    World

    Politics

    Health

    Sci-Tech

    Entertainment

    Business

    Lifestyle

    Sports

    Autos

    • A tale about a taxicab hauling gold and sinking through the ice on Larder Lake, Ont., in December 1937 has captivated a man from that town for decades.

    • A U.S. driver somehow squeezed her vehicle through a parkade hallway at a Metro Vancouver casino Thursday, before getting stuck at an elevator bank.

    Local Spotlight

    A tale about a taxicab hauling gold and sinking through the ice on Larder Lake, Ont., in December 1937 has captivated a man from that town for decades.

    When a group of B.C. filmmakers set out on a small fishing boat near Powell River last week, they hoped to capture some video for a documentary on humpback whales. What happened next blew their minds.

    A pizza chain in Edmonton claims to have the world's largest deliverable pizza.

    Sarah McLachlan is returning to her hometown of Halifax in November.

    Wayne MacKay is still playing basketball twice at Mount Allison University at 87 years old.

    A man from a small rural Alberta town is making music that makes people laugh.

    An Indigenous artist has a buyer-beware warning ahead of Sept. 30, the National Day for Truth and Reconciliation.

    Police are looking to the public for help after thieves broke into a Lethbridge ice creamery, stealing from the store.

    An ordinary day on the job delivering mail in East Elmwood quickly turned dramatic for Canada Post letter carrier Jared Plourde. A woman on his route was calling out in distress.

    • More than 100 years after they were forced from the Sen̓áḵw village, members of the Squamish Nation will soon once again call it home.

    • The man who was killed in a shooting believed to be gang-related in Langley last week was also a suspect in a brutal road rage assault on a couple in Mission earlier this month, police have confirmed.

    • Ari Kinarthy never imagined he'd become the focus of photographers on a red carpet, back when he was a boy fighting to have fun.

    • Ontario Provincial Police say they have learned about more incidents of rocks being thrown at vehicles on Highway 48 in Markham.

    • Police have arrested four more people in connection with a viral video that showed a woman stealing a Porsche from a Mississauga driveway and then striking its owner as she attempted to flee the scene.

    • Two Italian citizens have been apprehended after allegedly illegally crossing over the International Railroad Bridge to the United States.

    • The family of Jon Wells, a man who died in an incident involving Calgary police earlier this month, say they are seeking time to grieve their loss.

    • The Green Line LRT project seemed to stall in September but many say it hasn't gone off the rails, as Calgary's mayor and the province met again to discuss options on Friday.

    • Safaa went to Lebanon looking to meet with a specialist for her Crohn's disease. Now, she and her four children are caught in the conflict between Israel and the militant group Hezbollah.

    • A rat infestation in Overbrook is causing a major headache for residents, who say the problem is out of control. Rats can be seen in yards day and night, with no sign of relief.

    • Parking rates at The Ottawa Hospital (TOH) will increase as of Tuesday for patients, visitors and staff.

    • When Hurricane Helene roared ashore in Florida as a Category 4 storm on Thursday, former Ottawa resident Judy Brown felt its wrath.

    • A 31-year-old man has been charged following the death of a woman who went missing in southern Quebec earlier this week.

    • Montreal police say they've arrested a man in connection with the theft of tens of thousands of dollars in golf merchandise tied to the Presidents Cup PGA Tour being held this week in the city.

    • Â鶹´«Ã½ Montreal at Six for Friday, Sept. 27, 2024 with anchor Mutsumi Takahashi.

    • There's one more week of pre-season games for the Edmonton Oilers before the National Hockey League team sets its roster for opening night a few days later.

    • Edmonton's mayor is, once again, asking the United Conservative Party government to pay its full share of property taxes on provincial buildings.

    • Edmonton Fire Rescue Services (EFRS) says it hasn't seen a rise in fires related to lithium-ion batteries, but is still encouraging Edmontonians not to overcharge their devices.

    • A youth who stabbed two staff members at a Bedford, N.S., high school in March 2023 has been sentenced to two years of probation, with certain conditions.

    • More than 550 symptomatic people responded to an online questionnaire about a gastrointestinal illness at a Prince Edward Island shellfish festival last weekend.

    • A 43-year-old man and a 45-year-old man, both from Sussex, N.B., have died as the result of a single-vehicle crash near Hay Settlement, N.B.

    • The Province of Manitoba has signed off on the sale of Portage Place, finalizing a deal with all three levels of government for True North to purchase the mall.

    • This is the first year Technical Vocational High School had an Orange Shirt Day walk.

    • An Ontario woman who allegedly abducted her three children from Ontario and crossed into Manitoba was arrested in Saskatchewan this week.

    • A man from Weyburn, Sask. died following a collision on Highway 1 just east of Regina on Friday morning.

    • George Gordon First Nation has completed their second phase in search of unmarked graves.

    • Members of Yorkton Tribal Council (YTC) are taking action to address the growing addictions crisis through the grand opening of their new detox centre – Eagle Sky Healing Lodge Detox Centre.

    • It’s homecoming weekend for many students and alumni and preparations are underway to ensure it’s a safe celebratory weekend.

    • When Ontario’s minimum wage goes up on Oct. 1, another group of workers will also see an increase. But what is the homeworkers’ minimum wage?

    • It’s the first weekend for the big Bavarian bash in Waterloo Region and it’s starting with a bang.

    • Saskatoon's homeless population is on pace to more than double in one year, according to data from the Saskatoon Fire Department.

    • In the aftermath of a fire that destroyed Snow White Family Restaurant in Biggar Saskatchewan, a GoFundMe has been created to help the owner start over.

    • EXCLUSIVE

      EXCLUSIVE

      The most important issues for Saskatchewan voters depends on which party they support, according to a new poll.

    • A tale about a taxicab hauling gold and sinking through the ice on Larder Lake, Ont., in December 1937 has captivated a man from that town for decades.

    • The emotional cross-examination of the woman accusing Jacob Hoggard of sexual assault continued at his trial Friday, as the Canadian musician's defence lawyer sought to highlight possible issues with the complainant's memory.

    • There were some tense moments for a B.C. family this week after their dog came face-to-face with a protective mama bear right outside their front door.

    • The National Council of Canadian Muslims and Hikma Public Affairs Council have both released statements on social media regarding the reported incident.

    • An early morning collision in south London is raising questions about the actions of a garbage truck driver who accelerated in reverse — slamming into Rebekkah Wilkin’s car.

    • Both sides at the sexual assault trial of former Woodstock Mayor Trevor Birtch argued over whether the interactions he had with the female complainant were consensual or not.

    • Several heavily armed officers descended on a home in the southeast area of Barrie Thursday afternoon after reports of a man armed with a crossbow.

    • A multi-vehicle collision on Highway 400 in Bradford caused some traffic backups ahead of the weekend.

    • Motorists planning to drive near the intersection of Essa Road and Anne Street South in Barrie over the weekend may have to pack their patience.

    • The federal and provincial governments are committing up to $1.5 million over the next four years to improve support for international agri-food workers (IAWs) in Ontario.

    • The Ontario government unveiled a new battery storage project in Tilbury that aims to provide reliable and affordable clean energy to families and businesses.

    • Over $100,000 has been donated to Brentwood Recovery Home on its 60th anniversary from St. Clair College and Windsor Rona+ stores.

    • Ari Kinarthy never imagined he'd become the focus of photographers on a red carpet, back when he was a boy fighting to have fun.

    • In the last provincial election, the B.C. Conservatives fielded just 19 candidates — and received less than 2 per cent of the vote.

    • The BC Prosecution Service says it has approved a charge against a Vancouver police officer over a collision with a pedestrian in 2023.

    • A pair of runaway pigs are in the custody of an animal sanctuary in the Okanagan after evading police and volunteers for hours earlier this week.

    • The Red Bridge, a historic landmark in Kamloops, B.C., was completely destroyed by fire early Thursday morning.

    • Animal protection officers in British Columbia have rescued three pit bulls – including one that gave birth to 10 puppies – from a rat-infested home in Kelowna.

    • A 10-year-old boy from Lethbridge is being praised as a hero after a routine summer outing at the pool nearly turned tragic for his friend.

    • A man and woman have been charged after a Lethbridge ice creamery was broken into earlier this week. Staff arrived at Cookie Crimes, in the 300 block of Sixth Street South, just before 5:30 a.m. on Monday to discover the front window broken.

    • Fire investigators are working to determine the cause of a blaze that killed about 9,000 turkey chicks in Vulcan County, Alta.

    • Police in Sault Ste. Marie have charged a 47-year-old suspect after a 911 caller reported someone asleep in line at a local drive-thru.

    • At its meeting Oct. 1, city council in Sault Ste. Marie will vote on a staff recommendation to buy the former Sault Area Hospital site on Queen Street East and Lucy Terrace.

    • Sault Police say a 50-year-old suspect had a busy morning Thursday, and is now charged with committing several offences between 9 a.m. and 11:15 a.m.

    N.L.

    Shopping Trends

    The Shopping Trends team is independent of the journalists at Â鶹´«Ã½. We may earn a commission when you use our links to shop. Read about us.

    Stay Connected
    Follow Â鶹´«Ã½