Scotiabank reports third quarter results

Third Quarter Highlights on a Reported basis (versus Q3, 2018)		Third Quarter Highlights on an Adjusted basis(1) (versus Q3, 2018)
•	Net income of $1,984 million, compared to $1,939 million	•	Net income of $2,455 million, compared to $2,259 million ARIVA.DE Börsen-Geflüster Kurse Scotiabank SA 43,16 € +0,14%
•	Earnings per share (diluted) of $1.50, compared to $1.55	•	Earnings per share (diluted) of $1.88, compared to $1.76
•	Return on equity of 11.5%, compared to 13.1%	•	Return on equity of 14.3%, compared to 14.5%

TORONTO, Aug. 27, 2019 /CNW/ - Scotiabank reported third quarter net income of $1,984 million compared to $1,939 million in the same period last year. Diluted earnings per share were $1.50, compared to $1.55 in the same period a year ago. Return on equity was 11.5% compared to 13.1% a year ago.

Adjusting for Acquisition and divestiture-related amounts⁽¹⁾, net income increased 9% to $2,455 million and diluted earnings per share were $1.88 compared to $1.76 last year. Return on equity was 14.3% compared to 14.5% a year ago.

"Meaningful progress was made this quarter to reposition the Bank and simplify the operations.  As a result, we are better positioned for growth in our key markets. We formalized agreements to reduce our investment in Thailand and announced the divestiture of our operations in Puerto Rico and US Virgin Islands. The repositioning of our international footprint is now substantially complete" said Brian Porter, President and CEO of Scotiabank.

"Canadian Banking reported good results this quarter, producing positive operating leverage, margin expansion, and double-digit deposit growth. Canadian Wealth Management earnings grew 20%, with good organic growth and strong contributions from MD Financial and Jarislowsky Fraser. 

"International Banking delivered another quarter of double-digit earnings growth. The business remains focused on successfully integrating our recent acquisitions while continuing to drive organic growth. We continue to see strong growth in the Pacific Alliance countries, led by Chile and Peru.

"The Bank continued to maintain strong capital ratios and reported a Common Equity Tier 1 capital ratio of 11.2%, or 11.7% on a pro-forma basis, including the estimated impact from announced divestitures.  This quarter we announced a 3 cent increase in the quarterly dividend to 90 cents per common share, 6% higher than a year ago.

"We are pleased that a number of key milestones were achieved this quarter in delivering digital innovations for our customers, including being recognized as the industry leader in mobile banking by J.D. Power and launching our new mobile banking app in Canada. In addition, Tangerine benefitted from our long-term partnership with Maple Leaf Sports and Entertainment as the Official Bank of the 2019 NBA Championships. We remain focused on achieving strong consistent long-term results for our shareholders."

^{(1)Refer to Non-GAAP Measures on page 2.}

Financial Results

Reported Results	For the three months ended						For the nine months ended
		July 31		April 30		July 31		July 31		July 31
(Unaudited) ($ millions)		2019		2019		2018		2019		2018
Net interest income	$	4,374	$	4,193	$	4,085	$	12,841	$	11,971
Non-interest income		3,285		3,610		3,096		10,225		9,356
Total revenue		7,659		7,803		7,181		23,066		21,327
Provision for credit losses		713		873		943		2,274		2,021
Non-interest expenses		4,209		4,046		3,770		12,426		10,994
Income tax expense		753		625		529		1,876		1,859
Net income	$	1,984	$	2,259	$	1,939	$	6,490	$	6,453
Net income attributable to non-controlling interests in subsidiaries		120		70		(44)		301		84
Net income attributable to equity holders of the Bank	$ 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 02:00 - PR Newswire FirstGroup Plc - Transaction in Own Shares 02:00 - PR Newswire Fidelity Special Values Plc - Half-year Report 02:00 - PR Newswire Vesuvius Plc - Transaction in Own Shares Sehen Sie sich dieses Unternehmen an:    Foto: andreas160578 - Pixabay Rasanter Aufstieg, Branchenrevolution und Jahresumsatz von 50 Mio. $ weiterlesen» Anzeige wo-site-teaser-box-16764_site-teaser-box_2024-04-26_09%253A00%253A00_2024-04-27_09%253A00%253A59