This is a paid press release. Contact the press release distributor directly with any inquiries.
Scotiabank reports third quarter results
|
All amounts are in Canadian dollars and are based on our unaudited Interim Condensed Consolidated Financial Statements for the quarter ended July 31, 2026 and related notes prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), unless otherwise noted. Our complete Third Quarter 2026 Report to Shareholders, including our unaudited interim financial statements for the period ended July 31, 2026, can also be found on the SEDAR+ website at www.sedarplus.ca and on the EDGAR section of the SEC’s website at www.sec.gov. Supplementary Financial Information is also available, together with the Third Quarter 2026 Report to Shareholders on the Investor Relations page at www.scotiabank.com. |
|
Third Quarter 2026 Highlights on a Reported Basis |
Third Quarter 2026 Highlights on an Adjusted Basis(1) |
TORONTO, Aug. 25, 2026 /CNW/ — The Bank of Nova Scotia (“Scotiabank”) (TSX: BNS) (NYSE: BNS) reported third quarter net income of $2,953 million compared to $2,527 million in the same period last year. Diluted earnings per share (EPS) were $2.27, compared to $1.84 in the same period a year ago.
Adjusted net income(1) for the third quarter was $2,973 million and adjusted diluted EPS(1) was $2.28, up from $1.88 last year. Adjusted return on equity(1) was 14.2% compared to 12.4% a year ago.
“Q3 was a record quarter for the Bank, as all business lines reported strong results and we exceeded our medium-term objectives in the period,” said Scott Thomson, President and CEO of Scotiabank. “In particular, we exceeded our 14% return on equity target this quarter, highlighting the improvements that we have made across the bank to increase margins and fee income. I am proud of our team of Scotiabankers for their many contributions this quarter, and for their continued focus on execution to deliver on our strategy.”
Canadian Banking generated earnings of $1,071 million, up 12% from the prior year, reflecting record revenue supported by a fifth consecutive quarter of margin expansion and strong fee income growth, combined with disciplined expense management, partly offset by higher provision for credit losses. The business delivered its fourth consecutive quarter of positive operating leverage and ROE improved to 19.4%.
