Scotiabank Profit Falls as Higher Costs Offset Improved Revenue
BNSThe Bank of Nova Scotia(BNS) Investopedia·2024-08-27 23:21

Key TakeawaysThe Bank of Nova Scotia on Tuesday reported third-quarter profit below what analysts expected, with elevated costs offsetting improved revenue.Revenue rose nearly 4% year-over-year, but profit dropped roughly 13% due to the higher costs and provisions for credit losses.Scotiabank CEO Scott Thomson noted the bank's recent investment in KeyCorp as a potential growth opportunity that can improve the company's overall profitability. The Bank of Nova Scotia (BNS) on Tuesday reported higher third-qua ...