Overview

• Scotiabank posted Q3 net income of $2.53 billion, or $1.84 per share, with adjusted earnings of $1.88 topping the roughly $1.73 consensus.
• Scotiabank reported $9.49 billion in revenue and provisions for credit losses of $1.04 billion, and it held its quarterly dividend at $1.10 per share.
• BMO reported Q3 net income of $2.33 billion, with adjusted earnings of $3.23 per share beating the $2.95 average estimate.
• BMO’s provisions for credit losses fell to $797 million, and the bank increased its normal course issuer bid to 30 million shares subject to regulatory and exchange approval.
• Executives struck a cautiously optimistic tone as concerns about U.S. tariffs eased, even as both banks emphasized disciplined risk management and capital strength.