加拿大丰业银行表示，鉴于英国央行首席经济学家皮尔是支持维持利率不变的两名委员之一，且英国央 行的声明保持其政策指引不变，即维持"渐进谨慎"的政策放松步伐，英国央行6月份再次降息的门槛大 幅提高。我们仍然预计英国央行将暂时维持每季度降息一次的节奏，并选择在6月份暂停降息、8月份恢 复降息。未来两周公布的CPI、就业和GDP数据或为6月降息预期注入些许活力，目前市场对该会议的 降息定价已从昨日的约15个基点（60%概率）大幅削减至仅5个基点（20%概率）。 丰业银行：降息门槛大幅提高 预计英国央行6月将按兵不动 ...

TORONTO, May 1, 2025 /PRNewswire/ - Scotiabank (TSX: BNS) (NYSE: BNS) today announced its intention to redeem all outstanding US $1,250 million 4.900% Fixed Rate Resetting Perpetual Subordinated Additional Tier 1 Capital Notes (Non-Viability Contingent Capital (NVCC)) (the "Notes") at 100% of their principal amount plus accrued and unpaid interest to, but excluding, the date fixed for redemption. The redemption of the Notes will occur on June 4, 2025. Formal notice will be delivered to the noteholders in ac ...

Group 1 - Bank of Nova Scotia has underperformed compared to its peers in total returns over the last decade [1] - The company is now led by a new CEO who has initiated an ambitious turnaround plan [1] Group 2 - The article highlights the importance of dividend stocks for passive income and retirement planning [1]

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Investor Presentation February 25, 2025 Caution Regarding Forward-Looking Statements Forward-looking Statements From time to time, our public communications include oral or written forward-looking statements. Statements of this type are included in this document, and may be included in other filings with Canadian securities regulators or the U.S. Securities and Exchange Commission (SEC), or in other communications. In addition, representatives of the Bank may include forward-looking statements orally to ana ...

Financial Data and Key Metrics Changes - The bank reported adjusted earnings of $2.2 billion or $1.76 per share, reflecting a 15% year-over-year growth in noninterest revenue [9][40] - Return on equity improved to 11.8% from 10.6% in the previous quarter, with return on tangible common equity at 14.3% [41][112] - Revenues increased by 11% year-over-year, driven by both net interest and non-interest income [41][112] - The provision for credit losses was approximately $1.2 billion, with a PCL ratio of 60 basis points, up 6 basis points quarter-over-quarter [42][64] Business Line Data and Key Metrics Changes - Canadian Banking reported earnings of $914 million, down 6% year-over-year due to higher loan loss provisions and expenses [47] - Global Wealth Management delivered earnings of $414 million, up 23% year-over-year, driven by higher mutual fund fees and wealth advisory revenues [50][91] - Global Banking and Markets had earnings of $517 million, up 33% year-over-year, with capital markets revenue increasing by 41% [53][94] - International Banking delivered earnings of $657 million, down 7% year-over-year, with a PCL ratio of 146 basis points [57][70] Market Data and Key Metrics Changes - The bank's overall funding profile strengthened with year-over-year deposit growth of 4%, reducing the loan-to-deposit ratio to 105% [85] - Retail deposit growth was up 4% year-over-year, with commercial business generating over $10 billion in deposit growth [98][99] - Digital active clients at Tangerine reached an all-time high of 1.4 million [100] Company Strategy and Development Direction - The bank is focused on allocating incremental capital and resources to priority markets, including a recent investment in KeyCorp [12][84] - The strategy emphasizes value over volume, with initiatives like Mortgage+ and Scene+ to enhance client acquisition [15][86] - The bank aims to improve operational excellence and return discipline, targeting stronger ROE performance across business lines [18][89] Management's Comments on Operating Environment and Future Outlook - Management acknowledged heightened geopolitical uncertainty and a less certain economic outlook, particularly in the U.S. and Mexico [35][106] - The bank is taking a conservative approach to navigate potential economic disruptions and is well-positioned to fund organic growth while resuming dividend growth [34][72] - Confidence remains in the bank's ability to manage through challenging periods while supporting clients [72][108] Other Important Information - The bank's CET1 capital ratio remained strong at 12.9%, with total risk-weighted assets at $468 billion [45][116] - The bank generated positive operating leverage of 2.8%, with a productivity ratio of 54.5% [44][114] - The effective tax rate increased to 23.8% due to changes in earnings mix and the implementation of the global minimum tax [44][112] Q&A Session Summary Question: What are the expectations regarding the impact of potential tariffs? - Management indicated that PCLs would remain elevated due to macroeconomic uncertainty and potential tariffs, with a base case scenario including modest tariff risks [63][70] Question: How is the bank addressing client acquisition and retention? - The bank is enhancing client acquisition strategies through initiatives like Mortgage+ and Scene+, with significant growth in primary clients [15][87] Question: What is the outlook for earnings growth in 2025? - The bank is on track to deliver earnings growth towards the higher end of the 5% to 7% range, excluding potential tariff impacts [104][106]

Group 1 - Bank of Nova Scotia (BNS) reported quarterly earnings of $1.22 per share, exceeding the Zacks Consensus Estimate of $1.17 per share, but down from $1.25 per share a year ago, representing an earnings surprise of 4.27% [1] - The bank's revenues for the quarter ended January 2025 were $6.47 billion, surpassing the Zacks Consensus Estimate by 4.57%, compared to $6.24 billion in the same quarter last year [2] - Over the last four quarters, Bank of Nova Scotia has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Group 2 - The stock has underperformed the market, losing about 5.8% since the beginning of the year, while the S&P 500 has gained 1.7% [3] - The current consensus EPS estimate for the upcoming quarter is $1.19 on revenues of $6.17 billion, and for the current fiscal year, it is $4.90 on revenues of $25.24 billion [7] - The Zacks Industry Rank for Banks - Foreign is currently in the bottom 35% of over 250 Zacks industries, indicating potential underperformance compared to higher-ranked industries [8]

Financial Performance - Net interest income for Q1 2025 was $5,173 million, an increase from $4,923 million in Q4 2024 and $4,773 million in Q1 2024[21]. - Total revenue reached $9,372 million, up from $8,526 million in Q4 2024 and $8,433 million in Q1 2024[21]. - Net income attributable to common shareholders decreased to $1,025 million from $1,521 million in Q4 2024 and $2,066 million in Q1 2024[21]. - Basic earnings per share for Q1 2025 was $0.82, down from $1.23 in Q4 2024 and $1.70 in Q1 2024[21]. - Adjusted net income for Q1 2025 was $2,362 million, compared to $2,119 million in Q4 2024[21]. - Reported net income for the three months ended October 31, 2024, was $1,689 million, with net income attributable to common shareholders at $1,521 million[39]. - Adjusted net income for the same period was $2,119 million, with adjusted net income attributable to common shareholders at $1,951 million[39]. - The reported net income for Q1 2025 was $993 million, a decrease of 55% compared to $2,199 million in Q1 2024, primarily due to higher non-interest expenses including a $1,362 million impairment loss[79]. - Adjusted net income increased by 7% to $2,362 million from $2,212 million in the previous year, driven mainly by higher revenues[100]. Revenue and Income Breakdown - Non-interest income increased by 15% to $4,199 million, primarily due to higher trading-related revenues and wealth management revenues[105]. - Total revenue for Q1 2025 was $3,412 million, an increase of $187 million or 6% compared to Q1 2024[134]. - Net interest income rose to $2,647 million, up $156 million or 6%, primarily due to asset and deposit growth[134]. - Non-interest income increased to $765 million, a rise of $31 million or 4%, driven by higher private equity gains and mutual fund distribution fees[135]. - Total revenue for Q1 2025 was $1,594 million, up 23% from $1,293 million in Q1 2024[203]. Credit Losses and Provisions - The provision for credit losses was $1,162 million, compared to $1,030 million in Q4 2024 and $962 million in Q1 2024[21]. - The provision for credit losses increased to $1,162 million in Q1 2025 from $962 million in Q1 2024, representing a $200 million increase[108]. - The provision for credit losses on performing loans rose to $98 million in Q1 2025, compared to $20 million in Q1 2024, primarily due to credit migration in retail unsecured lines and corporate portfolios[109]. - Provision for credit losses was $538 million, an increase of $160 million compared to $378 million in Q1 2024, with a provision ratio of 47 basis points[138]. - Provision for credit losses for Q1 2025 was $18 million, compared to $5 million in Q1 2024, reflecting credit migration and a negative macroeconomic outlook[206]. Expenses and Efficiency - Non-interest expenses rose to $6,491 million in Q1 2025, up 22.6% from $5,296 million in Q4 2024[29]. - Non-interest expenses were $6,491 million in Q1 2025, up $1,752 million or 37% year-over-year, including an impairment loss of $1,362 million related to the sale of banking operations in Colombia, Costa Rica, and Panama[113]. - The productivity ratio increased to 69.3% from 62.1% in Q4 2024, indicating higher non-interest expenses relative to revenue[21]. - The adjusted productivity ratio was 54.5% in Q1 2025, down from 56.0% in Q4 2024, reflecting challenges in managing costs[116]. Capital and Assets - The Common Equity Tier 1 (CET1) capital ratio was 12.9%, slightly down from 13.1% in Q4 2024[21]. - Total assets increased to $1,439,151 million from $1,412,027 million in Q4 2024[21]. - Average total assets for the consolidated bank increased to $1,460,615 million as of January 31, 2025, from $1,418,795 million as of October 31, 2024[53]. - Average assets increased by $15 billion to $460 billion in Q1 2025, driven by a $10 billion increase in residential mortgages[130]. Market and Economic Outlook - The economic outlook indicates a slowdown in U.S. GDP growth to 1.9% in 2025 from 2.8% in 2024, influenced by trade policy uncertainties[91]. - The Canadian economy is expected to grow by 1.8% in 2025, supported by lower policy rates despite trade uncertainties from the U.S.[92]. Strategic Initiatives - The Bank completed an acquisition of approximately 14.9% ownership interest in KeyCorp for about $2.8 billion, with the additional investment of approximately $2.0 billion completed on December 27, 2024[81][82]. - The company aims to enhance its market position through strategic adjustments and potential acquisitions in the upcoming quarters[44].