Canada's Scotiabank misses profit estimates on higher taxes, expenses

Show Business and Finance Publications

Tue, December 3, 2024

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Canada's Scotiabank misses profit estimates on higher taxes, expenses

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Trade finance fintech Modifi to invest more in Indian operations

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Karnataka HC quashes electoral bonds case against .. Nirmala Sitharaman, former state BJP chief Kateel

[ Tue, Dec 03rd 2024 ]: Bill Williamson

PNB Housing Finance to start Loan Against Property from April 2025, says MD & CEO Girish Kousgi

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Finance adviser confirms $1.1b IMF loan release by March

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Crowell & Moring named "Banking & Finance Team of .. ar" in LexisNexis Qatar Business Law Forum Awards

[ Tue, Dec 03rd 2024 ]: Bill Williamson

First Rail pursues 'clean core' SAP S/4HANA implementation

[ Tue, Dec 03rd 2024 ]: Bill Williamson

HELB, National Treasury Advertise Top Managerial Job Openings for Kenyans, Monthly Salary

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Average Net Worth by Age: How Do You Measure Up?

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Pat Gelsinger and Carlos Tavares had the same big problem: Morning Brief

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Palestinians File German Complaint on Media Giant Axel Springer's Business in Israeli Settlements

[ Tue, Dec 03rd 2024 ]: Bill Williamson

30 Under 30 Finance 2025: From Fintech's Top Founders To Wall Street's Best Dealmakers

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Qatar-Kazakhstan investment projects exceed $20bln

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Google Worried Israeli Contract Could Enable Human Rights Violations

[ Tue, Dec 03rd 2024 ]: Bill Williamson

EPFO claim rejected or 'returned': Know why and how to fix errors

[ Tue, Dec 03rd 2024 ]: Bill Williamson

GDP declines by 0.3% in third quarter

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Will Luxury & Sin Goods See A Tax Hike In December, 35% GST On Tobacco, Aerated Drinks?

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Be the Future: Malaysia's First Philosophy, Politics & Economics Degree

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Stellantis considers Picat and Filosa for CEO, says source

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Jack Nathan Health Closes Sale of Canadian Business and Positions for Global Growth

[ Tue, Dec 03rd 2024 ]: Bill Williamson

France faces 'moment of truth' with government on brink of collapse

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Lighthouse Canton Releases Venture Debt Report, H .. h of Non-Dilutive Financing for Startups in India

[ Tue, Dec 03rd 2024 ]: Bill Williamson

REITs in India: 24% returns and 60% of office space ready for investment

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Upper Crust owner SSP posts 23% rise in annual profit

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Egypt's non-banking finance hit $13bln in 9 months: FRA

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Indonesia offers six oil and gas blocks in second 2024 auction

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Buy 'Magnificent Seven' on Corrections, NYU's Damodaran Says

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Commonwealth bank announces major changes to everyday accounts and additional cash withdrawal fees

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Will RBI announce a rate cut? MPC meet date, time, and what to expect

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Prosus invests $100 million in Vastu Housing Finance, acquires minority stake

[ Tue, Dec 03rd 2024 ]: Bill Williamson

Exclusive: Netflix star Ryan Serhant raises $45 m .. ion to disrupt the real estate brokerage business

Mon, December 2, 2024

[ Mon, Dec 02nd 2024 ]: Bill Williamson

Thai Finance Minister says room for rate cut as inflation is low

[ Mon, Dec 02nd 2024 ]: Bill Williamson

Partnership of promise

[ Mon, Dec 02nd 2024 ]: Bill Williamson

Art Cashin, Wall Street veteran and CNBC regular, dies at age 83

[ Mon, Dec 02nd 2024 ]: Bill Williamson

The Bill Gates Foundation Bought 1,000,000 Shares .. 3 2024 And They're Both In The Same Sector - Why?

[ Mon, Dec 02nd 2024 ]: Bill Williamson

LinkedIn Has A Few AI Features For Users To Try (And Here's How To Use Them)

[ Mon, Dec 02nd 2024 ]: Bill Williamson

South Africa is the perfect destination for outsourcing software development

[ Mon, Dec 02nd 2024 ]: Bill Williamson

Brokerage Radar: Jefferies bullish on Global Health, HSBC says 'Buy' to Bajaj Finance

[ Mon, Dec 02nd 2024 ]: Bill Williamson

Robert Kiyosaki: 8 Assets To Get You So Rich You Can Quit Your Job Forever

[ Mon, Dec 02nd 2024 ]: Bill Williamson

'Shark Tank' stars, AI investor and 'anti-woke' fund to take stage in Palm Beach County

[ Mon, Dec 02nd 2024 ]: Bill Williamson

Will County Board elects Democratic speaker, replaces Steve Balich as Republican leader

[ Mon, Dec 02nd 2024 ]: Bill Williamson

JPMorgan's investment banking chair departs, memo says

[ Mon, Dec 02nd 2024 ]: Bill Williamson

This Interior Department senior executive has done it all when it comes to money

[ Mon, Dec 02nd 2024 ]: Bill Williamson

America's biggest private company is laying off thousands of workers

[ Mon, Dec 02nd 2024 ]: Bill Williamson

Insurance cost to drop if GST Council lowers taxes: Finance Minister

[ Mon, Dec 02nd 2024 ]: Bill Williamson

Banks behind troubled Brazil coffee traders could take $181 mln hit

[ Mon, Dec 02nd 2024 ]: Bill Williamson

Research shows business outlook in Wales is recovering

[ Mon, Dec 02nd 2024 ]: Bill Williamson

Planet Partners with Laconic to Deliver AI-Powere .. , Aiming to Enable Informed Carbon Credit Trading

Canada's Scotiabank misses profit estimates on higher taxes, expenses

//business-finance.news-articles.net/content/202 .. s-profit-estimates-on-higher-taxes-expenses.html

Published in Business and Finance on Tuesday, December 3rd 2024 at 8:30 GMT by Bill Williamson
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Bank of Nova Scotia missed analysts' estimates for quarterly profit on Tuesday, hurt by higher taxes and elevated expenses related to compensation and technology.

Bank of Nova Scotia, commonly known as Scotiabank, reported a lower-than-expected profit for the first quarter ending January 31, 2024, due to increased taxes and expenses. The bank's adjusted earnings per share were C$1.68, falling short of the C$1.79 anticipated by analysts according to LSEG data. This shortfall was attributed to a significant rise in non-interest expenses, which increased by 11% to C$3.57 billion, and a 10% hike in provisions for credit losses to C$962 million. Despite these challenges, Scotiabank saw a 6% increase in total revenue to C$8.43 billion, driven by growth in its Canadian banking and international segments. However, the bank's net income fell by 27% to C$1.67 billion, reflecting the impact of higher costs and provisions.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/canadas-scotiabank-misses-profit-estimates-higher-taxes-expenses-2024-12-03/ ]