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Photo by Galit Rodan/BloombergThe Bank of Nova Scotia beat analysts’ third-quarter earnings expectations on higher profits in its capital markets and wealth management business segments.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorScotiabank’s net income for the three months ending July 31 was $2.95 billion, compared to $2.52 billion during the same quarter last year, resulting in net earnings per share of $2.27.Its adjusted net income — which removes the impact of non-recurring items — was $2.97 billion, compared to $2.51 billion last year, resulting in adjusted earnings per share of $2.28, which beat analysts’ expectations of about $2.10.“Q3 was a record quarter for the bank,” Scotiabank’s chief executive Scott Thomson said in a statement on Tuesday. “All business lines reported strong results and we exceeded our medium-term objectives in the period.” Breaking business news, incisive views, must-reads and market signals. 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Please try againScotiabank also announced a dividend of $1.14 per share — unchanged from the previous quarter and payable on Oct. 28.Earnings in the bank’s global wealth management and capital markets segments increased by 23 per cent and 37 per cent respectively, while its Canadian and international banking segments rose by 12 per cent and eight per cent respectively.The lender’s provision for credit losses, or the amount of money that the bank kept aside to tackle loans that may potentially go bad, increased by $38 million to $1.07 billion when compared to the same quarter last year.In May, Scotiabank inked a deal to acquire Maple Financial Holdings Inc., a Texas-based company that runs a commercial bank.The move is part of its goal to allocate more capital in North America, a strategy the lender announced in late 2023. It is looking to allocate a greater share of capital to Canada as well as recycle capital from its Latin American businesses to its corporate business in the U.S.In July, the bank said that it was teaming up with Sun Life Financial Inc., Telus Corp. and Toronto-based AI consultant Lightworks to build and share infrastructure related to artificial intelligence in order to help them deploy the technology faster, more safely and at a lower cost. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.