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Posted AT 1:30 PM EST on 26/08/08

Scotiabank earnings dip 2%

ANDREW WILLIS

Globe and Mail Update

Bank of Nova Scotia saw profits drop 2 per cent as the bank stepped up advertising and branch openings, but also boosted provisions for bad retail loans. In financial results for the third quarter that defied the credit crisis hammering rivals, Scotiabank announced Tuesday that it earned $1.01-billion or 98 cents a share, down from $1.02, or $1.03-billion, in the same period a year ago.

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