Bank of Nova Scotia’s profit drops on higher provisions

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Bank of Nova Scotia’s profit drops on higher provisions
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Excluding one-time items, Scotiabank reported earnings of $1.73 a share in the last quarter, compared with $2.10 in the same period a year earlier

posted a drop in third-quarter adjusted profit on Tuesday as the Canadian bank set aside more funds to cover potential losses from loan defaults.

Excluding one-off items, Scotiabank’s net income came in at $2.23 billion, or $1.73 per share for the three months ended July 31, compared with $2.61 billion, or $2.10 per share, in the year-ago quarter.Checking box will enable automatic data updates.

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