Scotiabank Q4 Profit Declines

RTTNews | hace 794
Scotiabank Q4 Profit Declines

(RTTNews) - Canadian lender Bank of Nova Scotia (BNS.TO, BNS), called Scotiabank, announced Wednesday that fourth-quarter net income attributable to common shareholders of the Bank declined to C$1.95 billion or C$1.63 per share from C$2.41 billion or C$1.97 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter was C$2.06 per share, compared to C$2.10 per share in the year-ago quarter.

On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of C$1.97 per share for the quarter. Analysts' estimates typically exclude special items.

Provision for credit losses for the quarter was C$529 million, compared to C$168 million last year.

Net interest income grew to C$4.62 billion from C$4.22 billion, while non-interest income declined to C$3.00 billion from C$3.47 billion last year.

Total revenue for the quarter edged down 1 percent to C$7.63 billion from C$7.69 billion in the same quarter last year. Analysts were looking for revenues of C$8.07 billion for the quarter.

Separately, Scotiabank announced a dividend of C$1.03 per share on the outstanding shares of the Bank, payable January 27, 2023 to shareholders of record at the close of business on January 4, 2023.

read more
Canadian Market Down Marginally In Cautious Trade; Tech Stocks Move Higher

Canadian Market Down Marginally In Cautious Trade; Tech Stocks Move Higher

The Canadian market is up in positive territory a little past noon on Friday with the benchmark S&P/TSX Composite Index hovering near record high, thanks largely to strong buying in the technology sector after encouraging earnings updates from big name U.S. companies such as Apple Inc. and Meta Platforms.
RTTNews | hace 5h 35min
U.S. Dollar Advances Amid Trump's Tariff Threats

U.S. Dollar Advances Amid Trump's Tariff Threats

The U.S. dollar firmed against its most major counterparts in the New York session on Friday amid concerns about President Donald Trump's renewed pledge to slap 25 percent tariffs on imports from Canada and Mexico on February 1.
RTTNews | hace 5h 44min
ECB Surveys Show Rising Eurozone Inflation Expectations

ECB Surveys Show Rising Eurozone Inflation Expectations

Euro area consumers' inflation expectations for the next 12 months increased for a third straight month in December, while professional forecasters revised up the projections for this year and next, separate surveys by the European Central Bank showed on Friday.
RTTNews | hace 5h 52min
Chicago Business Barometer Increases But Still Indicates Contraction

Chicago Business Barometer Increases But Still Indicates Contraction

MNI Indicators released a report on Friday showing its reading on Chicago-area business activity increased in the month of January but continued to indicate contraction. The report said the Chicago business barometer rose to 39.5 in January from 36.9 in December, although a reading below 50 still indicates contraction. Economists had expected the index to climb to 40.0.
RTTNews | hace 7h 51min
U.S. Consumer Price Growth Matches Estimates In December

U.S. Consumer Price Growth Matches Estimates In December

The Commerce Department released a closely watched report on Friday showing consumer prices in the U.S. increased in line with economist estimates in the month of December. The report said the personal consumption expenditures (PCE) price index rose by 0.3 percent in December after inching up by 0.1 percent in November. The increase matched expectations.
RTTNews | hace 8h 0min
Bay Street Likely To Open On Mixed Note

Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note on Friday with investors reacting to the nation's GDP data, and treading cautiously ahead of the February 1 deadline for the imposition of trade duties on Canada.
RTTNews | hace 9h 8min