Bank of Nova Scotia beats profit estimates for third quarter

Canadian and worldwide banking divisions and small dangerous mortgage provisions drove efficiency

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TORONTO — Financial institution of Nova Scotia beat analysts’ estimates for third-quarter revenue on Tuesday, pushed by smaller-than-expected provisions and enchancment in its Canadian and worldwide banking divisions from final 12 months’s sluggish efficiency.

Internet revenue excluding one-off gadgets rose to $2.6 billion, or $2.01 a share, within the three months ended July 31, in contrast with $1.3 billion, or $1.04, a 12 months earlier. Analysts had anticipated $1.90 a share, based on IBES information from Refinitiv.

Canada’s third-largest lender reported general web revenue of $2.5 billion, or $1.99 a share, up from $1.3 billion or $1.04, a 12 months earlier.

© Thomson Reuters 2021

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