Scotiabank Misses on Higher Loan Provisions as Tariffs Bite (2)

Bank of Nova Scotia missed estimates after setting aside more money than expected for bad credit as tariffs hit its Canadian and Mexican operations.

The Toronto-based lender earned C$1.52 per share on an adjusted basis in its fiscal second quarter, according to a statement Tuesday, falling short of the C$1.56 average estimate of analysts in a Bloomberg survey. Provisions for credit losses totaled C$1.4 billion ($1.02 billion) for the three months through April, more than the C$1.34 billion analysts had forecast.

With Canada’s economy weakening and possibly in the early stages of a recession, the country’s big banks are preparing ...