That was below the adjusted earnings of $1.82 per share expected by analysts, according to Thomson Reuters Eikon.
“While significant market volatility impacted some of our business lines, we still experienced strong growth. In addition, credit quality remains strong and in line with recent quarters.” Scotiabank’s global banking and markets business however saw a 26 per cent drop in net income attributable to equity holders to $335 million.
The bank’s common equity tier 1 ratio, a key measure of the its financial health, was 11.1 per cent, down from 11.2 per cent a year earlier but unchanged from the previous quarter.
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