Scotiabank caps Big Five reports with record $780-million profit: CEO eyeing international acquisitions

Article Abstract:

Bank of Nova Scotia posted a 36 percent increase in second-quarter profits on 1 June 2004 to hit a record of $780 million, capping a strong performance by Canada's major banks due largely to fewer problem loans, strong equity markets and low interest rates. President and chief executive officer, Rick Waugh stated that Scotiabank's strong financial position would allow it to pursue acquisitions in countries where the bank currently operates.

Sales, profits & dividends, Company sales and earnings, Company earnings/profit, Bank of Nova Scotia (Toronto, Ontario)

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$100-million Borealis saga proves pricey for OMERS

Article Abstract:

The creation of a new merchant bank, Borealis Capital Corp., which was managed by former employees of the pension plan cost almost $100-million in 12 months and ultimately turned out to be an expensive and unnecessary escapade. The venture ended up enriching a few investors and managers at the expense of 340,000 active and retired workers who are members of the Ontario Municipal Employees Retirement Board (OMERS).

Forecasts, trends, outlooks, Financial management, Management dynamics, Management, Forecasts and trends, Company investment, Investments, Market trend/market analysis, Company business management, Borealis Capital Corp., OMERS Realty Corp.

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