The Bank of Nova Scotia ( BNS - Free Report ) reported third-quarter fiscal 2020 (ended Jul 31) adjusted net income of C$1.31 billion ($950 million), down 47% year over year. The results excluded certain one-time items. Escalating provisions and a decline in revenues were on the undermining factors. However, lower expenses, along with strong capital and profitability ratios were the driving factors. Royal Bank of Canada ( RY - Free Report ) reported third-quarter fiscal 2020 (ended Jul 31, 2020) net income of C$3.2 billion ($2.3 billion), down 2% from the prior-year reported tally.