Profits rise along with credit loss provisions
The bank’s wealth management arm increased profits by 5% year-over-year
The capital markets business saw a drop in quarterly profits as it faced a large severance charge
The earnings miss was driven by higher provisions for credit losses
Profits were propelled by loan growth and higher interest rates
Retail banking losses were offset by wealth management gains
The wealth management and life insurance segments also saw smaller gains
Bigger contribution from IGM offset by lower earnings from life insurance companies
Derivatives trading and clearing businesses put in strong performance
The U.S. divisions saw strong growth