Scotiabank reports Q1 profit down, provisions for credit losses up from a year ago

Scotiabank reported its first-quarter profit fell compared with a year ago as its provisions for

February 28, 2023

Scotiabank reported its first-quarter profit fell compared with a year ago as its provisions for credit losses climbed higher. The bank said Tuesday it earned $1.77 billion or $1.36 per diluted share for the quarter ended Jan. 31, down from a profit of $2.74 billion or $2.14 per diluted share in the same period a year earlier.