The Bank of Nova Scotia (NYSE:BNS) Q4 2025 Earnings Call December 02, 2025 08:15 AM ET Company ParticipantsJacqui Allard - Group Head of Global Wealth ManagementRaj Viswanathan - CFOMeny Grauman - Head of Investor RelationsAris Bogdaneris - Group Head of Canadian BankingJohn Aiken - Director of ResearchEbrahim Poonawala - Managing DirectorScott Thomson - President and CEOPaul Holden - DirectorPhil Thomas - Chief Risk OfficerMatthew Lee - Director and Equity ResearchConference Call ParticipantsMario Mendonca ...

The Bank of Nova Scotia (NYSE:BNS) Q4 2025 Earnings Call December 02, 2025 08:15 AM ET Company ParticipantsJacqui Allard - Group Head of Global Wealth ManagementRaj Viswanathan - CFOMeny Grauman - Head of Investor RelationsAris Bogdaneris - Group Head of Canadian BankingJohn Aiken - Director of ResearchEbrahim Poonawala - Managing DirectorScott Thomson - President and CEOPaul Holden - DirectorPhil Thomas - Chief Risk OfficerMatthew Lee - Director and Equity ResearchConference Call ParticipantsMario Mendonca ...

The Bank of Nova Scotia (NYSE:BNS) Q4 2025 Earnings Call December 02, 2025 08:15 AM ET Speaker0Good morning and welcome to Scotiabank's Q4 results presentation. My name is Manny Grauman, and I'm Head of Investor Relations. Presenting to you this morning are Scott Thomson, Scotiabank's President and Chief Executive Officer; Raj Viswanathan, our Chief Financial Officer; and Phil Thomas, our Chief Risk Officer. Following our comments, we'll be glad to take your questions. Also present to take questions are the ...

Core Insights - Bank of Nova Scotia (BNS) reported quarterly earnings of $1.39 per share, exceeding the Zacks Consensus Estimate of $1.33 per share, and up from $1.15 per share a year ago, representing an earnings surprise of +4.51% [1] - The bank's revenues for the quarter ended October 2025 were $7.06 billion, surpassing the Zacks Consensus Estimate by 5.58%, and up from $6.24 billion year-over-year [2] - The stock has gained approximately 27.6% year-to-date, outperforming the S&P 500's gain of 15.8% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.39 on revenues of $6.85 billion, and for the current fiscal year, it is $5.64 on revenues of $27.88 billion [7] - The estimate revisions trend for Bank of Nova Scotia was unfavorable prior to the earnings release, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Banks - Foreign industry, to which Bank of Nova Scotia belongs, is currently ranked in the top 35% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Another company in the same industry, VersaBank, is expected to report quarterly earnings of $0.24 per share, reflecting a year-over-year decline of -14.3%, with revenues projected at $24.27 million, up 21.5% from the previous year [9]

Table of Contents ENHANCED DISCLOSURE TASK FORCE (EDTF) RECOMMENDATIONS The Enhanced Disclosure Task Force (EDTF) was established by the Financial Stability Board in May 2012 with the goal of developing fundamental disclosure principles. On October 29, 2012, the EDTF published its report, "Enhancing the Risk Disclosures of Banks," which sets forth recommendations around improving risk disclosures and identifies existing leading practice risk disclosures. Below is the index of all these recommendations to fa ...

Financial Highlights - FY25 Pre-Tax Pre-Provision earnings increased by 9%, with adjusted earnings up by 15%[13] - FY25 revenues increased by 12%[15] - Q4 Return on equity was 11%, with adjusted return on equity at 12.5%, a year-over-year increase of 190 bps[15] - The company repurchased 10.8 million shares in FY25[15] - CET1 ratio stood at 13.2%[15] Segment Performance - Canadian Banking: Q4 pre-tax pre-provision earnings increased by 3% year-over-year[15] - International Banking: Q4 Net Interest Margin (NIM) increased by 12 bps year-over-year[15] - Global Wealth Management: FY25 net income increased by 18%, with operating leverage of 1.6% and net sales improved by $11.5 billion[15] - Global Banking and Markets: FY25 net income increased by 30%, with underwriting and advisory fees up by 35%[15] Capital Position and Risk Management - Q/Q CHANGE IN CET1 RATIO decreased by ~10 basis points Q/Q[25] - Total ACL ratio of 98 bps, up 2 bps Q/Q[57] - GILs are higher Q/Q by $354 million due primarily to formations mainly in Canadian Retail and Corporate portfolios, as well as the impact of foreign currency translation[68]

Bank of Nova Scotia topped estimates on better-than-expected results at its capital-markets and wealth-management divisions https://t.co/EZWaLzLP12 ...

Group 1: Merck (MRK) - Merck is a pharmaceutical company facing specific risks, particularly related to patent cliffs where revenues can sharply decline after drug exclusivity ends [3][4] - The current market capitalization of Merck is $260 billion, with a current stock price of $104.83 and a dividend yield of 3.09% [5][6] - Merck's dividend payout ratio is approximately 50%, which is more sustainable compared to Pfizer's 90% payout ratio, positioning Merck better to maintain dividends despite upcoming patent cliffs [6] Group 2: Enbridge (ENB) - Enbridge operates a toll-taker business model, focusing on moving oil and natural gas, which makes it less sensitive to commodity price fluctuations [8][9] - The company has a market capitalization of $106 billion, with a current stock price of $48.78 and a dividend yield of 5.52% [10][11] - Enbridge has consistently increased its dividend annually for three decades, making it an attractive option for investors looking to enter the energy sector [11] Group 3: Bank of Nova Scotia (BNS) - Bank of Nova Scotia is currently undergoing a turnaround, focusing on North America and exiting less desirable operations in Central and South America [12][15] - The bank has a market capitalization of $86 billion, with a current stock price of $69.29 and a dividend yield of 4.44% [14][15] - The bank has a long history of paying dividends since 1833, indicating a commitment to returning value to shareholders [13]

Core Insights - Dynamic announced estimated year-end reinvested distributions for its Active ETFs and ETF series units for the 2025 tax year [1][3] Distribution Details - The reinvested distributions will be calculated based on forward-looking information as of October 31, 2025, with actual distributions potentially differing from estimates [3] - The record date for the final year-end distributions is set for December 30, 2025, with payments scheduled for January 5, 2026 [3] Estimated Reinvested Distributions - The estimated reinvested distribution amounts per unit for various Dynamic Active ETFs are as follows: - Dynamic Active Canadian Bond ETF: CAD 0.07703 - Dynamic Active Canadian Dividend ETF: CAD 0.61658 - Dynamic Active Global Dividend ETF: CAD 6.83813 - Dynamic Active Global Gold ETF: CAD 8.74527 - Dynamic Active Mining Opportunities ETF: CAD 1.00270 - Dynamic Retirement Income Fund: CAD 0.35562 - Dynamic Short Term Credit PLUS Fund: CAD 0.16133 [4][5] Company Overview - Dynamic is a division of 1832 Asset Management L.P., offering a range of wealth management solutions including mutual funds and actively managed ETFs [7]

Group 1 - Major reports from Alibaba Group Holding Limited and Analog Devices Inc. are expected to be released pre-market on Tuesday, along with several retail earnings [1] - After the market close, numerous tech and software companies will report their financials [1] - Next Tuesday will feature significant financial reports from Bank of Nova Scotia pre-market, followed by cybersecurity and semiconductor reports from CrowdStrike Holdings Inc. and Marvell Technology Inc. after the market close [1]