The Daily Chase: BMO, Scotiabank deliver big profit beats; Powell testifies
The Daily Chase: BMO, Scotiabank deliver big profit beats; Powell testifies VIDEO SIGN OUT Bank of Montreal and Bank of Nova Scotia opened earnings season today with two big profit beats. A common denominator is substantially improved credit quality, as both banks set aside far less cash for loans that could go bad. Divergence, however, is clear outside of Canada as BMO benefitted from substantial profit growth in its U.S. operations, while Scotia was held back by a sharp drop in its international operations. Paul Bagnell is going through all the details for us, and weâre looking...
Source: bnnbloomberg.ca