The Bank of Nova Scotia, commonly known as Scotiabank, reported its fiscal fourth-quarter earnings for 2024, with a profit of $1.69 billion, up from $1.35 billion the previous year. Despite the annual increase, the bank missed Wall Street expectations for both earnings per share (EPS) and revenue. Adjusted EPS came in at C$1.57, below the consensus estimate of C$1.60, while revenue was C$8.53 billion, falling short of the C$8.61 billion forecast. The shortfall was attributed to higher expenses, a higher tax rate, and a one-time impairment charge related to an investment in a Chinese bank. Scotiabank's shares dropped 2.2% in pre-market trading following the announcement. The bank's Canadian banking segment performed well, delivering $0.77 billion in profit, a 34% increase year-over-year, driven by higher net interest income and reduced credit losses. EPS was reported at $1.15, and revenue was $6.24 billion. However, the bank anticipates continued loan pressure and political uncertainty in the coming months.