Third-Quarter Forex Income Solid At Scotiabank, Toronto Dominion

BANKS

Income from foreign exchange trading held up well at the first two Canadian banks to report results from the third quarter of their October-to-October fiscal year. While Bank of Nova Scotia improved FX earnings year-on-year, Toronto Dominion saw gains drop only slightly (FXW, August 28).

Scotiabank's FX and precious metals earnings recovered strongly in the third quarter after a dismal performance in the second quarter, for which the bank showed a C$7 million loss. The C$38 million posted for