Scotiabank profit falls as bank sets aside almost $1.3B to cover bad loans | CBC News
The Bank of Nova Scotia's profit slumped in the fourth quarter due to a doubling in the amount of money set aside for potential loan write-offs.
Expenses rose by 22% and provisions for bad loans more than doubled from the same time last year.
The bank attributed its increased costs to personnel, technology, compensation, taxes, and advertising.