August 26, 2008 / 3:34 PM / 9 years ago

Bank of Nova Scotia profit dips 2 percent

TORONTO (Reuters) - Bank of Nova Scotia BNS.TO quarterly profit slipped 2 percent as provisions for credit losses climbed and capital markets revenue fell from record levels a year earlier.

Scotiabank, Canada’s third-largest bank, said on Tuesday that net income was C$1.01 billion ($962 million), or 98 Canadian cents a share, in the three months ended July 31.

That compared with a profit of C$1.03 billion, or C$1.02 a share, a year earlier.

$1=$1.05 Canadian Reporting by Lynne Olver

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