🏦 Bank of Nova Scotia Q1 2025 Report
On an adjusted basis, Scotiabank earned $1.76 per share, beating expectation of $1.65. The bank is shifting focus from Latin America to North America.
🔹 Key Highlights
- Impairment Charge: $1.36B loss related to the announced sale of banking operations in Colombia, Costa Rica, and Panama.
🔹 Net Quarterly Income
- Reported: $993M (-55% Year-over-Year)
- Adjusted: $2.36B (+6.8% Year-over-Year)
🔹 Net Write-Offs
- Total: $954M
- +19% Year-over-Year, -1.1% Quarter-over-Quarter
🔹 Provisions for Credit Losses (PCL)
- Total: $1.16B
- +21% Year-over-Year, +13% Quarter-over-Quarter
🔹 Other Info About $BNS (February 26, 2025)
- Dividend Yield: 5.9%
- P/E: 14.9
- Market Cap: $89.7B
Scotiabank's Canadian and international banking earnings declined, while wealth management and capital markets saw strong growth.
🔹 Strategic Moves This Quarter
- ✅ BNS closed its 14.9% strategic minority investment in KeyCorp (U.S.).
- ✅ Announced a deal to transfer Colombian & Central American operations to Davivienda, in exchange for ~20% ownership in the Colombian banking group Davivienda.
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