Scotiabank reports first quarter results

Contributing sentiments towards policy:

52% : Support costs for the Scene+ loyalty program: The Bank recorded costs of $98 million ($133 million pre-tax) to support the expansion of the Scene+ loyalty program to include Empire Company Limited as a partner.
50% : Adjusted results and measures remove certain specified items from revenue, non-interest expenses, income taxes and non-controlling interest.
46% : Q1 2023 vs Q4 2022Net income attributable to equity holders decreased by $1 million to $654 million as higher non-interest income and net interest income were offset by higher provision for income taxes, non-interest expenses and provision for credit losses.
46% : On an adjusted basis, net income attributable to equity holders decreased $234 million, due mainly to lower revenues of $417 million, partly offset by lower expenses and income taxes.
45% : This increase was driven by higher non-interest income and net interest income, partly offset by higher non-interest expenses, provision for income taxes, and provision for credit losses.
45% : This increase was driven by higher net interest income and non-interest income, and lower provision for income taxes, partly offset by higher provision for credit losses and non-interest expenses.
44% : The increase was driven by higher net interest income and non-interest income and lower provision for income taxes, partly offset by higher non-interest expenses and provision for credit losses.
44% : The decrease of $267 million was due mainly to lower revenues of $663 million, partly offset by lower expenses and income taxes.
40% : Collectively, the sale and wind-down of these entities resulted in a net loss of $340 million ($361 million pre-tax), of which $294 million ($315 million pre-tax) related to the reclassification of cumulative foreign currency translation losses net of hedges, from accumulated other comprehensive income to non-interest income in the Consolidated Statement of Income.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.