Scotiabank, BMO put aside more cash for credit losses as pandemic stretches on

  • Scotiabank set aside C$ 2.18 billion in its Q3, in addition to C$ 1.85 billion in Q2 and C$ 713 million in 2019.
  • BMO Financial Group credit loss was C$ 1.05 billion in Q3, down from C$ 1.11 billion in Q2, but up from C$ 306 million in 2019.
  • Scotiabank's net profit down to C$ 1.30 billion from C$ 1.98 billion a year ago; BMO reported profits of C$ 1.23 billion, down from C$ 1.56 billion a year ago.

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