Top-News
Dienstag,
27.11.2018 12:05
von
PR Newswire
| Aufrufe: 56
Scotiabank reports fourth quarter and 2018 results
Tageszeitungen (Symbolbild).
pixabay.com
Canada NewsWire
TORONTO, Nov. 27, 2018
| Scotiabank's 2018 audited annual consolidated financial statements and accompanying Management's Discussion & Analysis (MD&A) are available at www.scotiabank.com along with the supplementary financial information and regulatory capital disclosure reports, which includes fourth quarter financial information. All amounts are in Canadian dollars and are based on our audited annual consolidated financial statements and accompanying MD&A for the year ended October 31, 2018 and related notes prepared in accordance with International Financial Reporting Standards (IFRS), unless otherwise noted. |
| Fiscal 2018 Highlights on a Reported basis (versus Fiscal 2017) | Fourth Quarter Highlights on a Reported basis (versus Q4, 2017) | ||
| | | ||
| • | Net income of $8,724 million, compared to $8,243 million | • | Net income of $2,271 million, compared to $2,070 million |
| • | Earnings per share (diluted) of $6.82, compared to $6.49 | • | Earnings per share (diluted) of $1.71, compared to $1.64 |
| • | Return on equity of 14.5%, compared to 14.6% | • | Return on equity of 13.8%, compared to 14.5% |
| • | Annual common dividend per share of $3.28 compared to $3.05, an increase of 8% | | |
| | | | |
| Fiscal 2018 Highlights on an Adjusted basis1 (versus Fiscal 2017) | Fourth Quarter Highlights on an Adjusted basis1 (versus Q4, 2017) | ||
| | | ||
| • | Net income of $9,144 million, compared to $8,303 million | • | Net income of $2,345 million, compared to $2,084 million |
| • | Earnings per share (diluted) of $7.11, compared to $6.54 | • | Earnings per share (diluted) of $1.77, compared to $1.65 |
| • | Return on equity of 14.9%, compared to 14.7% | • | Return on equity of 14.1%, compared to 14.6% |
Fiscal 2018 performance versus medium-term objectives:
| | | |
| Medium-Term Objectives | Performance | |
| | Reported | Adjusted1 |
| Generate growth in EPS (Diluted) of 7%+ | 5.1% | 8.7% |
| Return on equity of 14%+ | 14.5% | 14.9% |
| Achieve positive operating leverage | Positive 3.0% | Positive 3.7% |
| Maintain strong capital ratios | CET1 capital ratio of 11.1% | CET1 capital ratio of 11.1% |
| ___________________________________ |
| 1Adjusting for Acquisition-related costs. Refer to Non-GAAP Measures section on page 3. |
TORONTO, Nov. 27, 2018 /CNW/ - Scotiabank reported net income of $8,724 million in 2018, compared with net income of $8,243 million in 2017. Diluted earnings per share (EPS) were $6.82, a 5% increase from last year. Return on equity was 14.5%, compared to 14.6% last year. Adjusting for the Acquisition-related costs of $420 million after tax ($591 million pre-tax), net income increased 11% to $9,144 million and EPS rose to $7.11, a 9% increase compared to last year.
Reported net income for the fourth quarter ended October 31, 2018 was $2,271 million, compared to $2,070 million for the same period last year. EPS was $1.71, up 4% compared to $1.64 last year. Return on equity was 13.8%. Adjusting for the Acquisition-related costs of $74 million after tax ($102 million pre-tax), net income increased 13% to $2,345 million and EPS rose to $1.77, up 8% compared to last year. A quarterly dividend of 85 cents per common share was announced.
"During 2018, we delivered strong results and made important investments, which will be additive to the Bank for years to come," said Brian Porter, President and CEO. "The strategic acquisitions made this year strengthen the Bank's overall earnings quality and add important scale in our key markets. We had strong performance in our core P&C businesses and are strengthening our wholesale businesses. We are also building momentum with our digital strategy, delivering a stronger customer experience and improving productivity.
"Canadian Banking reported strong earnings of $4.4 billion, up 7% from last year. Asset growth remained strong and we continued to build deposit momentum while increasing our net interest margin. The acquisition of Jarislowsky Fraser and MD Financial Management will enable the Bank to deliver on its strategic commitment to grow and diversify our global wealth management business.
"International Banking reported very strong results, with adjusted annual earnings growth of 18%, on a constant currency basis. This was driven by our operations in the countries that make up the Pacific Alliance – Mexico, Peru, Chile and Colombia - which experienced double digit loan and deposit growth, partly reflecting recent acquisitions, positive operating leverage and stable credit quality.
"The Bank's Common Equity Tier 1 capital ratio remains strong at 11.1% driven by strong internal capital generation and prudent management of risk weighted asset growth, which positions the Bank well to grow its business and improve shareholder returns.
"Looking ahead in 2019, the Bank is well-positioned for growth across our key markets, particularly in the Pacific Alliance countries where we are seeing strong earnings momentum and a stronger economic environment. We are proud of our considerable investment in technology and its positive impact on both the customer experience and on the safety and security of our customers' information and the Bank as a whole. We are confident in our ability to integrate recent acquisitions successfully, given our strong track record, and we maintain strong capital ratios. With our continued investment in our people and our focused effort in driving efficiencies across the Bank, we are well-placed to continue delivering strong results for years to come."
Non-GAAP Measures
The Bank uses a number of financial measures to assess its performance. Some of these measures are not calculated in accordance with Generally Accepted Accounting Principles (GAAP), which are based on International Financial Reporting Standards (IFRS), are not defined by GAAP and do not have standardized meanings that would ensure consistency and comparability between companies using these or similar measures. The Bank believes that certain non-GAAP measures are useful in assessing business performance and provide readers with a better understanding of how management assesses business performance. These non-GAAP measures are used throughout this press release and are defined in the "Non-GAAP Measures" section of our 2018 Annual Report.
Adjusted results and diluted earnings per share
The following tables present reconciliations of GAAP Reported financial results to Non-GAAP Adjusted financial results.
During the fourth quarter, the Bank completed the acquisition of MD Financial. In the third quarter, the Bank completed the acquisitions of Jarislowsky Fraser, BBVA Chile, and the retail operations of Citibank Colombia.
The financial results for fiscal 2018 and applicable quarters have been adjusted for the following, relating primarily to the above acquisitions completed in fiscal 2018.
Acquisition-related costs
- Day 1 provision for credit losses on acquired performing financial instruments, as required by IFRS 9. The standard does not differentiate between originated and purchased performing loans and as such, requires the same accounting treatment for both.
- Integration costs – These include costs that are incurred on the current year's acquisitions and related to integrating the acquired operations and will not form part of continuing operations once integration is complete.
- Amortization of acquisition-related intangible assets, excluding software, relating to current and past acquisitions.
Reconciliation of reported and adjusted results and diluted earnings per share
| | | For the three months ended | For the year ended | ||||||||
| | | October 31 | July 31 | October 31 | October 31 | October 31 | |||||
| ($ millions) | 2018 | 2018 | | 2017 | 2018 | 2017 | |||||
| Reported Results | | | | | | | | | | | |
| Net interest income | $ | 4,220 | $ | 4,085 | $ | 3,831 | $ | 16,191 | $ | 15,035 | |
| Non-interest income | | 3,228 | | 3,096 | | 2,981 | | 12,584 | | 12,120 | |
| Total revenue | | 7,448 | | 7,181 | | 6,812 Werbung Mehr Nachrichten zur Scotiabank SA Aktie kostenlos abonnieren
E-Mail-Adresse
Bitte überprüfe deine die E-Mail-Adresse.
Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1  Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News | |||||
