Bank of Nova Scotia

Latest Results (12.07.2026):

Bank of Nova Scotia (Scotiabank) — Q1 2026: The Bank reported net income of $2,299 million for the quarter (Q1 2026), with diluted EPS of $1.73, and adjusted net income of $2,695 million (adjusted diluted EPS $2.05). Adjusted return on equity was 13%. Total revenue was $9,646 million and the Common Equity Tier 1 (CET1) ratio was 13.3%. The quarter included the completion of the sale of banking operations in Colombia, Costa Rica and Panama (resulting in a pre-tax loss of $434 million, $377 million after tax, recorded in Other).

Income and EPS

Reported net income: $2,299M (Q1 2026) vs $993M (Q1 2025). Diluted EPS: $1.73 vs $0.66 a year ago. Adjusted net income: $2,695M; adjusted diluted EPS: $2.05 (adjusted EPS growth of ~16% YoY per the report). Adjusted ROE: 13% (up from 11.8% a year ago).

Revenue and margins

Total revenue: $9,646M. Net interest income: $5,582M. Net interest margin: 2.45% (up ~22 basis points year‑over‑year). Reported non‑interest income: $4,064M (adjusted non‑interest income $4,495M).

Expenses and efficiency

Non‑interest expenses: $5,299M (adjusted $5,273M). Reported productivity ratio: 54.9%; adjusted productivity ratio: 52.3%. Management reported adjusted positive operating leverage of 4% for the quarter.

Credit quality

Provision for credit losses: $1,176M (performing/Stage 1 & 2: $73M; impaired/Stage 3: $1,103M). PCL as a % of average net loans: ~0.61% (annualized). Net write‑offs annualized: ~0.49%.

Business segment results

Canadian Banking: earnings $960M, +5% YoY; ROE ~18.1%. International Banking: earnings $737M, +7% YoY; ROE ~16%. Global Wealth Management (adjusted): $491M, +18% YoY; AUM $436B, +10% YoY; adjusted ROE ~17.9%. Global Banking & Markets: earnings $544M, +5% YoY.

Capital and liquidity

CET1 capital ratio: 13.3%. Leverage ratio: 4.4%. TLAC ratio reported at 28.6%. The report notes regulatory ratios are calculated under Basel III/OSFI rules.

One‑time items and strategic notes

Q1 2026 included the completion of the sale of banking operations in Colombia, Costa Rica and Panama; a pre‑tax loss of $434M ($377M after tax) was recognized in the Other segment. Management reiterated confidence in achieving medium‑term objectives, including a return on equity above 14% in 2027 (one year earlier than previously guided).