Scotiabank reports volatile loan-loss provisions

Scotiabank put aside an additional C$31 million ($23.8 million) in loan-loss provisions against impaired loans in the second quarter, as it grappled with deteriorating assets in its international banking division. 

Provisions for credit losses (PCLs) for soured loans, known as stage 3 assets under accounting standard IFRS 9, increased from C$564 million to C$595 million in the three months to April 30. 

PCLs for commercial loans within the international banking division drove the increase,

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: