Canada's Big Banks Post Strong Third-Quarter Earnings

Scotiabank reported a $2.95 billion profit for its third quarter, up from $2.53 billion in the same period last year.

The bank's revenue rose to $10.54 billion, from $9.49 billion a year ago.

On an adjusted basis, Scotiabank earned $2.28 per diluted share, up from $1.88 per share in the same quarter last year.

Royal Bank of Canada (RBC) reported a third-quarter profit of $6.02 billion, up from $5.41 billion a year earlier.

The bank's revenue reached $18.54 billion, up from $16.99 billion in the same period last year.