Published: Wed, November 29, 2017
Markets | By Terence Owen

Bank of Nova Scotia posts 4Q profit

Bank of Nova Scotia posts 4Q profit

Bank of Nova Scotia (BNS.TO), Canada's third-biggest lender, on Tuesday said its earnings increased by 4 percent in the fourth quarter, benefiting from strong performances by each of its businesses.

Scotiabank's profit for the fourth fiscal quarter fell just shy of analysts' expectations. Earnings, adjusted for amortization costs, came to $1.32 per share.

BBVA said that the transaction would generate a net capital gain of 640 million euros ($763 million) and have a positive impact on the group's common equity tier 1 (fully loaded), a key measure of capital strength of banks, of about 50 basis points.

Global banking profit rose 11 per cent to $605 million amid loan and deposit growth in Latin America.

Scotiabank held its quarterly dividend steady at 79 cents per share. Scotiabank's diluted earnings per share for the 2017 fiscal year rose eight per cent to $6.49, compared to $6 in 2016.

Film industry should boycott IFFI over Padmavati row: Shabana Azmi
A new release date will be announced once the "requisite clearances" are in place, the production house added. The CBFC had sent the film back to the producer as the application for the certification was "incomplete".

Flights disrupted as Bali volcano spews ash
Mount Agung, which has been experiencing increased activity since Tuesday, erupted for the second time on Saturday. While the airport remains in operation, several major carriers have cancelled flights.

In poll times, Congress, BJP raise heat on Winter Session dates
He said the government is trying to evade and avoid accountability in Parliament "on its acts of ommission and commission". Yesterday, Congress President Sonia Gandhi had accused the government of sabotaging the winter session of Parliament .

If successful, Scotiabank expects to settle the transaction during its first quarter, which ends on January 31, and close the deal in the summer of 2018, bank executives said.

Scotiabank has concentrated on expanding its presence in Mexico, Peru, Chile and Colombia, which it calls the Pacific Alliance countries.

Its key measure of financial health, the common equity tier 1 ratio (CET1), increased to 11.5 per cent, up from 11.3 per cent in its third quarter and 11.0 per cent in the fourth quarter previous year.

The deal would double Scotia's market share in Chile to about 14%.

It had risen as high as 16,085.95, but lost ground in afternoon trade after North Korea launched a missile that landed close to Japan.

Like this: