The Bank of Nova Scotia (BNS.TO and NYSE: BNS) reported mixed first-quarter earnings, as the Canadian Banking and International Banking divisions generated lower adjusted earnings while the Global Banking and Markets did better.
For the three months ended Jan. 31, the bank reported adjusted diluted earnings per share of $1.76, compared to $1.69 in the previous year. FactSet had forecast $1.82. Adjusted Net income was $2.36 bllion, compared to $2.2 billion.
The bank had net income of $993 million compared to $2.2 billion in the same period last year. In this year's first quarter, the bank booked an impairment loss of $1.36 billion related to the announced sale of the banking operations in Colombia, Costa Rica and Panama to Davivienda. Diluted earnings per share came in at $0.66, compared with $1.68.
Scott Thomson, president and CEO of Scotiabank said: "We are encouraged by the progress towards our stated medium-term financial objectives and remain focused on supporting our clients as they navigate through this challenging period of economic uncertainty."
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.