The Globe and Mail reports in its Thursday edition Bank of Nova Scotia says it will exceed the $150-million cost-cutting target it set for its Canadian operations. The Globe's David Berman quotes Sean McGuckin, chief financial officer, as saying, "As we spend more time on this and do a deeper dive, and look at the various technologies that are out there, we're coming up with greater opportunities than we thought 18 months ago." Scotiabank is not alone in addressing expenses. The bank group's restructuring efforts come as the big banks have been reporting steady profit growth in recent quarters despite weak economic activity, indebted consumers and a depressed energy sector. However, some analysts believe it is only a matter of time before the full impact of low commodity prices shows up in financial results. The market, too, is worried the banks' winning streak is about to end: Mr. McGuckin would not provide details on the number of jobs affected by Scotiabank's cost-cutting. He emphasized, though, the changes are combined with efforts to boost the bank's resources in areas such as technology and where workers interact directly with customers. Scotiabank closed Wednesday at $58.83, up 82 cents.