Scotiabank Q3 net income $1,304 millionChristian Fernsby ▼ | August 26, 2020
Scotiabank reported third quarter net income of $1,304 million compared to $1,984 million in the same period last year.
Scotiabank Scotiabank reported third quarter net income
Adjusted net income was $1,308 million, down 47% and EPS was $1.04, down 45% from the previous yearReturn on equity was 8.3% compared to 14.3% a year agoThe results were significantly impacted by higher loan loss provisions of $2,181 million this quarter
Canadian Banking reported adjusted earnings of $433 millionThe Bank provided customer assistance to over 360,000 customers in Canada, with most of these efforts deployed through Scotiabank's retail and Tangerine's digital channelsThis quarter, Scotiabank received the top ranking in the J.DPower 2020 Canada Online Banking Satisfaction Study for our online banking speed, security and information, as well as content experience. ■