Scotiabank’s Mexican operations to add $51 million to the bank’s fourth quarter

The Canadian Press

Scotiabank (TSX:BNS) said Friday that its Mexican operations will add about $51 million to its fourth-quarter earnings.

The Toronto-based bank said continued underlying mortgage growth, higher non-interest income and lower provisions for bad loans were more than offset by falling market rates on interest income, higher expenses and a higher effective tax rate.

Scotiabank Mexico’s third quarter net income was about $49 million.

Scotiabank is Canada’s most international bank with operations in 50 countries.