However, despite the headwinds that led the bank to boost provisions for bad loans, earnings still beat analyst expectations.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300A welcome email is on its way. If you don't see it, please check your junk folder.
Scotiabank also bolstered its provision for credit losses, or the amount it sets aside for bad loans, with an increase of $361 million from last year, bringing the fourth-quarter provisions up to $529 million as the macroeconomic picture sours. “We have made strategic investments to refocus and strengthen our footprint and position the Bank for continued success over the long term,” said Scotiabank president and chief executive Brian Porter in a
This bank holds certified funds and/or bank drafts for 5 business days. Awful.
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