The Globe and Mail reports in is Monday edition that Canada's banks are expected to book weaker profits, capping off a fiscal year marked by spiking expenses, rising capital requirements and higher provisions for potentially bad loans. The Globe's Stefanie Marotta writes that as the country's largest lenders prepare to report fourth-quarter earnings this week, analysts cut their expectations -- as they did ahead of most of the quarters throughout this year. They expect earnings will drop between 3 per cent and 7 per cent year-over-year, weighed down by mounting costs, rising risks and tepid loan growth. Keefe, Bruyette & Woods analyst Mike Rizvanovic said he expects a "a noisy quarter to end a challenging year." Fourth-quarter results may be "very messy, particularly in the expense line, in some cases related to severance charges," he said in a note. Many lenders have already started cutting costs, with RBC, Scotiabank and BMO all cutting staff and making other cutbacks. Scotia is preparing to unveil its strategic overhaul plan in December aimed at revamping its operations in Latin America and increasing its domestic business. Meanwhile, investors are waiting for details on TD's expected fines in the United States.