Canadian lender Scotiabank's Q3 profit falls on higher loan loss provisions

Bank Of Nova Scotia News

Canadian lender Scotiabank's Q3 profit falls on higher loan loss provisions
Credit Losses
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Elevated borrowing costs and the possibility of a recession have raised the threat of customers defaulting on their loans, and lenders are preparing for...

- Canada's Bank of Nova Scotia reported a fall in third-quarter profit on Tuesday, as the lender set aside more in rainy-day funds, compared with a year earlier, to cover for potential credit losses amid an uncertain economy.

In a speech in the Downing Street rose garden, Sir Keir Starmer asked the country to ‘accept short-term pain for long-term good’.The benchmark S&P 500 and the Nasdaq took a pause from previous week's rally on Monday as investors sold tech-related stocks and shifted their focus to the upcoming earnings report from Nvidia, whose chips are widely used in the artificial intelligence space. Nvidia's shares that led a recent bull-market rally were up 0.

AI in Quality Management: Market Growth Opportunities Report, 2024-2028 - Predictive Quality Management in EV Component Manufacturing Presents Business Opportunities

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Credit Losses

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