RE:RE:RE:RE:RE:RE:RE:X Day TODAY MAY 22nd Bank of Nova Scotia saw quarterly earnings plunge 41 per cent after setting aside a record amount for loan losses, giving investors the first indication of how the coronavirus pandemic will affect fiscal second-quarter earnings at Canadian banks.
Scotiabank set aside $1.85 billion for soured loans, less than analysts expected. Canada’s six biggest banks are expected to set aside $8.9 billion for loan losses in the three months through April 30, triple the first-quarter total.
At Scotiabank, net income beat analysts’ estimates.
Better to let the ''dust'' settle...and keep you ALA