The Bank of Nova Scotia (NYSE:BNS) NBF Annual Financial Services Conference March 26, 2024 11:05 AM ET Company Participants Aris Bogdaneris - Group Head of Canadian Banking Conference Call Participants Unidentified Analyst All right, welcome back and welcome to our next presenter, Aris Bogdaneris, Group Head Canadian Banking for Scotiabank. Thank you for joining us in Montreal, your hometown. First question, are you a Habs fan? Aris Bogdaneris I'm very much a Habs fan and I was lucky enough to be at the rig ...

NoDerog/iStock Unreleased via Getty Images Investment Thesis Receiving a regular dividend income coupled with the prospect of capital appreciation is one of the principal benefits for those who invest in high dividend yield companies. However, identifying high dividend yield companies that offer sustainable dividends can be a challenging task. Companies that pay sustainable dividends don't only provide you with the chance to get immediate dividend payments, but also with a source of income that continuously ...

The Bank of Nova Scotia's (BNS) adjusted net income for fiscal first-quarter 2024 (ended Jan 31) was C$2.21 billion ($1.63 billion), which declined nearly 6% year over year. Results excluded certain one-time items.A rise in expenses, a surge in provisions for credit losses and a lower loan balance hurt results. However, higher non-interest income, net interest income and solid capital ratios were tailwinds.After considering non-recurring items, net income was C$2.2 billion ($1.62 billion), up 25.1% year ove ...

Financial Data and Key Metrics Changes - The bank reported adjusted earnings of $2.2 billion or $1.69 per share in the quarter, with a return on equity of 11.9% and return on tangible common equity of 14.6% [24][35] - Revenues increased by 6% year-over-year, driven by a 5% rise in net interest income and an 8% increase in non-interest income [35] - The CET1 ratio was 12.9%, reflecting a decrease of approximately 10 basis points from the prior quarter, benefiting from earnings and share issuances [36] Business Line Data and Key Metrics Changes - Canadian Banking reported earnings of $1,096 million, a 1% increase year-over-year, with revenues growing 7% and expenses rising 3% [53] - Global Wealth Management earnings were $374 million, down 4% year-over-year, with strong growth in International Wealth offset by a decline in Canadian results [38] - Global Banking and Markets generated earnings of $439 million, down 15% year-over-year but improved 6% quarter-over-quarter [39] Market Data and Key Metrics Changes - The Canadian economy is expected to underperform compared to the U.S. and key Latin American countries early in the year, with growth reacceleration anticipated later [6] - Loan growth in the commercial and small business lines continues in the mid to high single-digit range, while retail loans grew by 4% [29][20] - Deposits grew by 5% year-over-year, with personal deposits increasing by 2% and non-personal deposits by 7% [20] Company Strategy and Development Direction - The company is focused on disciplined capital allocation, enhancing profitability, and building primary client relationships [3] - There is an emphasis on optimizing risk-weighted assets by reducing exposure to less profitable relationships [5] - The strategy includes growing commercial banking and enhancing cash management capabilities to serve multinational clients [33][92] Management's Comments on Operating Environment and Future Outlook - Management noted that higher interest rates are impacting consumer sentiment and spending, with expectations for rate cuts later in the year [6] - The company remains well-positioned to manage through potential economic challenges, with no recessionary conditions expected in operated geographies [27] - Provisions for credit losses are expected to peak in Q2 and improve in the latter half of the year [98] Other Important Information - The bank's liquidity coverage ratio strengthened to 132% year-over-year, reducing reliance on market source funding [25] - The international banking business delivered strong results with earnings of $752 million, up 35% year-over-year [11][57] - The bank's net interest margin expanded by 8 basis points year-over-year, driven by higher margins in international and Canadian banking [15] Q&A Session Summary Question: Thoughts on turning off the DRIP discount - Management indicated that they would consider turning off the DRIP discount after assessing the domestic stability buffer in June [69] Question: NIM expansion sustainability - Management expects NIM expansion to continue but at a muted pace, with benefits from asset repricing in international banking [48][71] Question: Near-term PCL expectations - Management anticipates some near-term deterioration in PCLs, particularly in international markets, with improvements expected in the latter half of the year [98] Question: Impact of tax changes on capital markets activity - The change in Canadian tax legislation is expected to impact the equities business, with a projected revenue impact of $180 million to $200 million for the year [100] Question: Deposit trends and household savings rates - Management noted a rotation into term deposits as consumers anticipate rate cuts, with overall deposit growth continuing [106]

Bank of Nova Scotia (BNS) came out with quarterly earnings of $1.25 per share, beating the Zacks Consensus Estimate of $1.19 per share. This compares to earnings of $1.37 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.04%. A quarter ago, it was expected that this bank would post earnings of $1.19 per share when it actually produced earnings of $0.93, delivering a surprise of -21.85%.Over the last four quarters, the company ...

Adoption of IFRS 17 $MM, except EPS Q1/24 Y/Y Q/Q Reported Net Income $2,199 25% 62% Diluted EPS $1.68 24% 70% Revenue $8,433 6% 2% Expenses $4,739 6% (14%) Pre-Tax, Pre-Provision Profit1 $3,694 6% 35% Productivity Ratio2 56.2% 20 bps (1,060 bps) Net Interest Margin (NIM)3 2.19% 8 bps 4 bps Risk Adjusted Margin (RAM)4 1.77% (6 bps) 17 bps PCL Ratio2 50 bps 17 bps (15 bps) PCL Ratio on Impaired Loans2 49 bps 20 bps 7 bps Return on Equity2 11.8% 200 bps 480 bps Return on Tangible Common Equity3 14.6% 220 bps ...

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Investors interested in Banks - Foreign stocks are likely familiar with Bank of Nova Scotia (BNS) and Svenska Handelsbanken Ab Publ (SVNLY) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank puts an emphasis ...

As 2023 passed with no recession materializing, many investors breathed a sigh of relief, which natively may not seem supportive of targeting high-yield dividend stocks growth. After all, with the economy booming and workers vigorously rejoining the labor market, equity sector participants may eschew passive income for outright capital gains.However, high-yield dividend stocks growth arguably always deserves consideration. For one thing, focusing exclusively on capital gains prevents investors from attainin ...

MONTREAL, Feb. 9, 2024 /PRNewswire/ - CCM Hockey, a leading designer, manufacturer, and marketer of hockey equipment, is thrilled to announce a new program in partnership with Scotiabank dedicated to increasing opportunities for girls and women in hockey.CCM Hockey and Scotiabank will work together on Scotiabank Girls HockeyFest's 'Learn to Play' program, designed to inspire the next generation of girls, and increase participation in the sport. CCM Hockey x Scotiabank Girls HockeyFest (CNW Group/Sport Ma ...