BNS - Bank of Nova Scotia: Pressure On Residential Mortgage Loans Remains
2024-06-07 07:04:05 ET
Summary
- Bank of Nova Scotia's net interest and non-interest income have shown growth, but higher provisions for credit losses have ultimately lowered net income.
- The bank faces competition from Royal Bank of Canada in the residential mortgage market, which could limit loan growth.
- I do not take a bullish view on the Bank of Nova Scotia at this time.
Investment Thesis: I rate Bank of Nova Scotia as a Hold at this time.
As a major Canadian banking and financial services company, The Bank of Nova Scotia ( BNS ), also known as Scotiabank, has seen a steady decline over the past couple of years, owing to a challenging macroeconomic environment....
Bank of Nova Scotia: Pressure On Residential Mortgage Loans Remains