The Bank of Nova Scotia (NYSE:BNS), a leading financial services provider, disclosed its financial results for the third quarter, revealing a decrease in net income to $1,912 million from $2,192 million in the same quarter last year.
The diluted earnings per share (EPS) also fell to $1.41 from $1.70 year-over-year.
While the bank's overall earnings saw a decline, adjusted figures painted a slightly more resilient picture.
Adjusted net income stood at $2,191 million with adjusted diluted EPS at $1.63, albeit still down from the $1.72 reported in the previous year.
The adjusted return on equity also dipped to 11.3% from 12.1% year-over-year, indicating a reduction in profitability.
On a positive note, Scotiabank's Canadian Banking segment reported a 6% increase in adjusted earnings, reaching $1.1 billion this quarter.
Similarly, its International Banking operations saw a 10% rise, with adjusted earnings totalling $709 million.
Furthermore, the bank's financial health showed improvement with a Common Equity Tier 1 (CET1) capital ratio of 13.3%, up from 12.7% last year.
As of the time of compiling this report, Scotia Bank's share price stood at $65.60.