The bank attributed its surging costs to "higher personnel costs, technology-related costs, performance-based compensation, business and capital taxes, share-based compensation, advertising and the unfavourable impact of foreign currency translation."
"The increased provision this quarter was driven primarily by the unfavourable macroeconomic outlook and uncertainty around the impacts of higher interest rates," the bank
#Bank of Nova Scotia #fourth quarter #profit slump #loan write-offs #expenses #provisions for bad loans #costs #layoffs #restructuring #interest rates
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