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Scotiabank reports Q4 profit down from year ago, provision for credit losses up

  • Scotiabank reported a decrease in its earnings per share, from $2.06 to $1.26, falling short of analysts' expectations.
  • The bank earned $1.4 billion in the last quarter, compared to $1.63 per share in the same period last year. Additionally, it incurred charges of over $590 million due to cost-cutting measures and a write down of an investment.
  • Despite challenges, Scotiabank remains optimistic about its growth strategy and balance sheet.
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