Company Name: Bank of Nova Scotia

Highlights In Q3, RBC and CIBC beat our EPS estimates(due to strong loan growth and credit loss recoveries), while TD, BMO, and BNS fell below expectations. We are raising our FY2021 estimates for RBC and CIBC by 2.5%, while...

Highlights The Big Five’s Q1 earnings beat our estimates primarily due to lower-than-expected provisions for loan losses. On average, net income was 9% higher than our projections. To read more about this report click...

After more than a ~50% (both y/y and q/q) slump in combined earnings of the top six Canadian banks in Q2 on a ~415% y/y jump in Provision for Credit Losses (PCLs), they made a strong recovery sequentially (+60%) in Q3 primarily attributable to sharply lower PCLs during the quarter (-40% q/q).