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published in Blogs
May 26, 2022
Bank of Nova Scotia (BNS, $65.35) beats Q2 earnings expectations

Bank of Nova Scotia (BNS, $65.35) beats Q2 earnings expectations

Bank of Nova Scotia beat second-quarter earnings expectations,  but projected  higher expenses and loan-loss provisions and slower mortgage growth, amidst rising inflation and interest rates.

Scotiabank’s  adjusted earnings came in at C$2.18 per share, handily topping expectations of C$1.96.

Canada’s third-biggest lender experienced more than 20% year-over-year increase in their Canadian businesses on the back of mortgages and commercial lending recovery. Its international business earnings surged +43% as provision for credit losses fell and margins increased.

Related Tickers: BNS