Results reflect impacts of Hurricane Ian, market volatility
Insurance sales in Canada were up 28%
Overall revenue was also down year over year, but North American wealth management revenue was up slightly
Deposits shrank in the latest quarter but margins expanded with loan growth, Fitch reported
Corporate profits tend to forecast economic downturns
Rising credit provisions and weak markets weighed on Q3 profits
The wealth management division saw a 15% income dip
The bank set aside $351 million in the quarter for potential loan losses
In wealth management, volatility weighs on near-term growth, report to shareholders says
The bank's wealth management business earned $181 million, up 10% from $164 million a year ago