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Financial institution of Nova Scotia beats quarterly revenue estimates By Reuters 



© Reuters. FILE PHOTO: A girl leaves a Financial institution of Nova Scotia (Scotiabank) department in Ottawa, Ontario, Canada, Might 31, 2016. REUTERS/Chris Wattie/File Picture

TORONTO (Reuters) – Financial institution of Nova Scotia beat analysts’ estimates for quarterly revenue on Tuesday, pushed by energy in its Latin America-focused worldwide unit and a pointy drop in provisions to cowl mortgage losses.

Web earnings excluding one-off gadgets rose to C$2.48 billion ($2.06 billion), or C$1.9 a share, within the three months ended April 30, in contrast with C$1.37 billion, or C$1.04, a 12 months earlier. Analysts had anticipated C$1.76 a share, in response to IBES knowledge from Refinitiv.

Canada’s No. 3 lender reported total web revenue of C$2.46 billion, or C$1.88 a share, up from C$1.32 billion, or C$1 a share, a 12 months in the past.

($1 = 1.2052 Canadian {dollars})

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