Bank of Nova Scotia (BNS) Q1 Earnings Decline Y/Y, Revenues Up

The Bank of Nova Scotia's (BNS) adjusted net income for fiscal first-quarter 2024 (ended Jan 31) was C$2.21 billion ($1.63 billion), which declined nearly 6% year over year. Results excluded certain one-time items.A rise in expenses, a surge in provisions for credit losses and a lower loan balance hurt results. However, higher non-interest income, net interest income and solid capital ratios were tailwinds.After considering non-recurring items, net income was C$2.2 billion ($1.62 billion), up 25.1% year ove ...