Scotiabank profits down due to CI Financial sale last year

The last of Canada’s Big 6 banks and mortgage lenders to announce financial results for the third quarter did so on Friday but the headline profit was down.

Scotiabank’s net income was $1.847 billion, down 21.4 per cent from the same period last year.

However, the 2014 figure included the profit from Scotiabank’s sale of most of its stake in CI Financial.

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