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Niket - 2 Balu - 2 Mark Blinch - 1 Gabriel Dechaine - 1 Kelvin Tran - 1 Victor Dodig - 1 Dave McKay - 1 Arasu Kannagi Basil - 1
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Toronto Canada Bengaluru dealmaking PCLs United States U.S The Bank of Nova Scotia
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Search resuls for: "Nivedita Balu Niket Nishant"


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☆ Canada's RBC, CIBC beat profit estimates; TD misses on higher loan provisions
  + stars: | 2023-11-30 | by ( Nivedita Balu Niket Nishant | Nivedita Balu | Niket Nishant | ) www.reuters.com   time to read: +4 min
TD said it would be challenging to meet its medium-term adjusted earnings growth target range of 7%-10% in the new fiscal year. It reported adjusted earnings of C$1.83 per share, 7 Canadian cents shy of estimates. RBC reported adjusted earnings of C$2.78 per share, comfortably beating expectations of C$2.62, according to LSEG data. CIBC also beat profit expectations as it set aside smaller-than-expected loan provisions and is slashing costs through a 5% reduction in its workforce, or about 2,400 jobs. The lender, Canada's fifth biggest, reported adjusted earnings of C$1.57 per share, compared with expectations of C$1.53.
Persons: Mark Blinch, Gabriel Dechaine, Kelvin Tran, Victor Dodig, Dave McKay, Niket, Balu, Arasu Kannagi Basil, Shinjini Ganguli, Kirsten Donovan, Mark Porter Organizations: Royal Bank of Canada, REUTERS, Canadian Imperial Bank of Commerce, RBC, National Bank, CIBC, TD Bank, Bank Nova Scotia, Bank of Montreal, Scotiabank, Tuesday, Thomson Locations: Toronto, dealmaking, PCLs, Canada, United States, U.S, Bengaluru
☆ Scotiabank misses quarterly profit forecasts, sees 'marginal' growth in 2024
  + stars: | 2023-11-28 | by ( Nivedita Balu Niket Nishant | Nivedita Balu | Niket Nishant | ) www.reuters.com   time to read: +3 min
A sign for The Bank of Nova Scotia, operating as Scotiabank, in Toronto, Ontario, Canada December 13, 2021. The lender said earnings in the 2024 fiscal year to Oct. 31 would be impacted by "slowing economic growth across its markets and increasing regulatory capital requirements" but it would also benefit from interest-earning assets. "We expect a challenging environment will persist for consumers and businesses," Chief Risk Officer Phil Thomas told analysts, citing muted Canadian economic growth, continued inflationary pressures and uncertain prospects for rate cuts. Finance chief Raj Viswanathan said deposit and loan growth were also expected to moderate from 2023 levels, noting savings levels have started coming down in Canada with inflation at multi-year highs, leaving consumers with less cash in hand. Its efforts to streamline operations resulted in a restructuring charge of C$258 million, Scotiabank said.
Persons: Carlos Osorio, Phil Thomas, Raj Viswanathan, Mike Rizvanovic, Scott Thomson, Niket, Balu, Krishna Chandra Eluri, Tomasz Janowski Organizations: The Bank of, Scotiabank, REUTERS, Bank of Nova, Finance, Bank of Canada, Thomson Locations: The Bank of Nova Scotia, Toronto , Ontario, Canada, Bank of Nova Scotia, Bengaluru, Toronto
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