Bank Of Nova Scotia · TSX:BNS
Bank Of Nova Scotia — The Bank of Nova Scotia — Q4 2024 Earnings Presentation
71 slides from Bank Of Nova Scotia's earnings presentation, Dec 3, 2024
Slide 1: Investor Presentation
Investor Presentation December 3, 2024
Slide 2: Caution Regarding Forward-Looking Statements
Caution Regarding Forward-Looking Statements From time to time, our public communications include oral or written forward-looking global capital markets activity; the Bank’s ability to attract, develop and retain key executives; statements. Statements of this type are included in this document, and
Slide 3: Opening Remarks
Opening Remarks Scott Thomson President & CEO 3
Slide 4: Strategic Objectives
Strategic Objectives ALL BANK STRATEGIC OBJECTIVES FY23 FY24 FY28 FY23 FY24 FY28 Baseline Progress Objective Baseline Progress Objective Incremental capital in priority 100%+ ~90% Retail primary client growth 280 K 2 MM+ businesses Personal & commercial deposits Closed referrals across 48% 51% ~55%
Slide 5: Fiscal 2024 Overview
Fiscal 2024 Overview Raj Viswanathan Group Head & CFO 5
Slide 6: Fiscal 2024 Financial Performance
Fiscal 2024 Financial Performance $MM, except EPS 2024 Y/Y Reported WHOLE YEAR HIGHLIGHTS Net Income $7,892 6% • Diluted EPS up 3% Diluted EPS $5.87 3% o Strong PTPP1 growth, partly offset by higher PCLs Revenue $33,670 5% • Revenues up 5%; adjusted1 revenue up 6% Expenses $19,695 3% o Net interest
Slide 7: Q4/24 Overview
Q4/24 Overview Raj Viswanathan Group Head & CFO 7
Slide 8: Q4 2024 Financial Performance
Q4 2024 Financial Performance $MM, except EPS Q4/24 Y/Y Q/Q Y/Y HIGHLIGHTS Reported Net Income $1,689 25% (12%) • Diluted EPS up 23%, adjusted1 up 28% Diluted EPS $1.22 23% (13%) o Strong PTPP1 growth and lower PCLs offset by higher taxes Revenue $8,526 3% 2% • Revenues up 3%; adjusted1 up 8% Expens
Slide 9: Strong Capital Position
Strong Capital Position Q/Q CHANGE IN CET1 RATIO (%)1 • CET1 ratio of 13.1%, benefited from earnings, share issuances through DRIP, offset by RWA growth (-27 basis points) • RWA growth from book quality changes across business banking and retail • No Basel III capital output floor impact 13 bps 13.3
Slide 10: Canadian Banking
Canadian Banking $MM Q4/24 Y/Y Q/Q Y/Y HIGHLIGHTS Reported • Net Income up 34% Net Income1 $1,061 34% (4%) o Lower PCLs and higher revenue, partly offset by higher expenses Revenue $3,487 5% 0% • Revenue up 5% (flat Q/Q) Expenses $1,576 4% 3% o Net interest income up 9% from volume growth and the be
Slide 11: Global Wealth Management
Global Wealth Management $MM Q4/24 Y/Y Q/Q Y/Y HIGHLIGHTS Reported • Net Income up 29% Net Income1 $420 29% 3% o Canadian earnings up 30% Revenue $1,510 13% 3% o International Wealth Management up 21% Expenses $938 6% 2% • Revenue up 13% o Higher mutual fund fees and brokerage revenues across the Pr
Slide 12: Global Banking and Markets
Global Banking and Markets $MM Q4/24 Y/Y Q/Q Y/Y HIGHLIGHTS Reported Net Income1 $403 (3%) (4%) • Net Income down 3% • US net income of $217MM (down 5% Y/Y) Revenue $1,360 0% 1% • Revenue in line with prior year Expenses $822 6% 3% o Capital Markets up 7%; up 6% Q/Q o Business Banking down 4%; down
Slide 13: International Banking
International Banking Constant dollar basis2 Y / Y H I G H L I G H T S ( C O N S T A N T D O L L A R 2) $MM Q4/24 Y/Y Q/Q Y/Y Q/Q Reported • Revenue up 7% Net Income1 $628 15% (6%) 18% (4%) o Net interest income up 5% driven by margin expansion • Expenses up 1% Revenue $2,887 4% (4%) 7% (1%) • NIM2
Slide 14: Other
Other REPORTED1 ($MM) HIGHLIGHTS • Reported net loss this quarter of $870 million included $417 million of adjusting items1,3 • Adjusted1 net loss improved $34 million Y/Y o Higher investment gains (421) o Lower non-interest expenses (474) o Partly offset by higher income taxes (759) (729) • Adjuste
Slide 15: Risk Review
Risk Review Phil Thomas Group Head & Chief Risk Officer 15
Slide 16: Allowance for Credit Losses
Allowance for Credit Losses TOTAL ACLS1 ($MM) AND ACL RATIO2 HIGHLIGHTS 85 bps 86 bps 88 bps 89 bps 88 bps • Total ACL ratio of 88 bps, down 1 bp Q/Q: 6,768 6,860 o Performing allowances were $4.7 billion, down 6,629 6,597 6,736 $102 million Q/Q (or down 46 million Q/Q excluding F/X) 1,910 1,938 2,0
Slide 17: Provision for Credit Losses
Provision for Credit Losses $MM Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q/Q HIGHLIGHTS $MM Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 All-Bank • Total PCL ratio of 54 bps, down 1 bp Q/Q: Impaired 802 942 975 970 1,043 Performing 454 20 32 82 (13) o PCLs are modestly lower by $22 million Q/Q, driven Total 1,256 962 1,007 1
Slide 18: Gross Impaired Loans and Net Write-offs
Gross Impaired Loans and Net Write-offs GILS ($MM) AND GIL RATIO1 HIGHLIGHTS 83 bps 84 bps 88 bps • GILs Increased $250 million Q/Q, driven mainly by new 80 bps 74 bps formations in Canadian Retail and from one account in both Canadian Commercial and GBM, despite improvements across most regions in
Slide 19: Appendix
1 2 Appendix 3 4 5 19
Slide 20: KeyCorp Investment
KeyCorp Investment • On August 12th, Scotiabank announced a strategic ~14.9% equity investment in KeyCorp, a premier U.S. bank – Two-staged transaction with fixed price mechanism of US$17.17 per share (Nov 29 closing price: US$19.481) – Initial Investment2 closed in Q4/24 and the Additional Investme
Slide 21: Net Income and Adjusted Diluted EPS
Net Income and Adjusted Diluted EPS Net Income ($MM) and EPS ($ per share) Reported View Q4/23 Q3/24 Q4/24 Net Income Attributable to Common Shareholders Net Income attributable to common shareholders 1,214 1,756 1,521 Dilutive impact of share-based payment options and others2 (11) (15) (3) Net Inco
Slide 22: Strong Balance Sheet Metrics
Strong Balance Sheet Metrics $Bn (unless indicated otherwise) Q4/23 Q3/24 Q4/24 Y/Y Capital Metrics CET1 Ratio1 13.0% 13.3% 13.1% 10 bps 1 Tier 1 Capital Ratio 14.8% 15.3% 15.0% 20 bps 1 Total Capital Ratio 17.2% 17.1% 16.7% (50 bps) TLAC Ratio2 30.6% 29.1% 29.7% (90 bps) 3 Leverage Ratio 4.2% 4.5%
Slide 23: Risk Adjusted Margin and NIM
Risk Adjusted Margin and NIM RISK ADJUSTED MARGIN (RAM)1 ALL-BANK NIM1 3.23% 3.32% 3.24% 3.27% 3.16% 2 bps (1 bp) 2.20% 2.14% 2.13% 2.07% 214 bps 215 bps 1.79% 1.60% 1.77% 1.72% 1.69% 1.72% Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q3/24 Spreads Business Mix Q4/24 All-Bank Canadian Banking International Banking
Slide 24: Interest Rate Sensitivity
Interest Rate Sensitivity NET INTEREST INCOME SENSITIVITY1 POLICY RATE CHANGE AND OUTLOOK POLICY RATE CHANGE AND OUTLOOK • Impact of an immediate and sustained 100 bps parallel Policy Rate Change by BNS Current Forecast Policy Rate3 rate on Fiscal Quarters (bps) shift on net interest income (NII) ov
Slide 25: Economic Outlook in Core Markets
Economic Outlook in Core Markets REAL GDP (ANNUAL % CHANGE) Forecast1 2010-20 2024 2025 Country 2021 2022 2023 Average Full Full Q1 Q2 Q32 Q4F Q1F Q2F Q3F Q4F Year Year Canada 1.6 6.0 4.2 1.5 0.8 1.1 1.5 1.8 1.2 1.9 2.0 2.1 2.3 2.1 U.S. 2.0 6.1 2.5 2.9 2.9 3.0 2.7 2.0 2.6 2.1 1.8 1.6 1.8 1.8 Mexico
Slide 26: Digital Progress: Canada
Digital Progress: Canada DIGITAL UNIT SALES (%) ACTIVE DIGITAL USERS (MM) +0 bps +6% 5.0 4.7 27.5 27.5 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 DIGITAL ADOPTION (%) ACTIVE MOBILE USERS (MM) +250 bps +8% 64.9 4.5 62.4 4.1 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24
Slide 27: Digital Progress: International
Digital Progress: International1 DIGITAL SALES (%) ACTIVE DIGITAL USERS (MM) +310 bps -2% 49.4 52.5 4.5 4.4 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 DIGITAL ADOPTION (%) ACTIVE MOBILE USERS (MM) -220 bps -2% 59.3 57.0 4.0 4.0 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q4/23 Q1/24 Q2/24 Q3/24 Q
Slide 28: Revenue Growth
Revenue Growth CANADIAN BANKING1 INTERNATIONAL BANKING1 in $MM in $MM Constant Dollar Basis2: +7% Y/Y +5% Reported +4% 3,312 3,480 3,487 3,007 2,780 31 2,887 6% 28 866 855 4% 27 821 647 632 5% 603 2,491 2,614 2,631 6% 2,328 2,227 4% 2,151 Q4/23 Q3/24 Q4/24 Q4/23 Q3/24 Q4/24 Retail Banking Business B
Slide 29: Non-Interest Expense
Non-Interest Expense NON-INTEREST EXPENSE HIGHLIGHTS $MM Q4/24 Y/Y Q/Q Y/Y Salaries and Benefits1 1,850 0% (1%) • Reported expenses decreased $231 million (down 4%) • Adjusted1 expenses increased $63 million (up 1%) Performance-based Compensation 582 9% 17% • Higher technology-related costs, perform
Slide 30: Average Loans by Business Line
Average Loans by Business Line GLOBAL BANKING AND CANADIAN BANKING1 I N T E R N A T I O N A L B A N K I N G 1,2 MARKETS1 in $Bn in $Bn in $Bn Constant Dollar Basis3: (2%) Y/Y 2% 449 454 Reported (5%) 444 175 172 90 94 95 166 (18%) 8 9 9 74 74 75 94 89 86 9 9 8 123 271 271 275 19 19 19 109 101 53 55
Slide 31: Average Business Banking Loans
Average Business Banking Loans CANADIAN BANKING INTERNATIONAL BANKING GLOBAL BANKING AND COMMERCIAL COMMERCIAL & CORPORATE MARKETS in $Bn In $Bn Constant Dollar Basis1: (2%) Y/Y in $Bn 6% Reported (9%) (18%) 94 95 94 90 91 92 92 90 123 122 89 115 86 109 24 24 101 23 24 (8%) +8% 57 22 56 58 59 60 55
Slide 32: Strong Deposit Growth
Strong Deposit Growth AVERAGE DEPOSITS BY SEGMENT Q4/24 AVERAGE DEPOSIT MIX in $Bn CB IB GBM GWM Notice - Term - 706 699 711 712 Business 2 Business 3 682 624 8% 19% 591 Demand- 1 Personal 2% 340 367 353 371 379 308 294 Notice - Demand - $713Bn 2 1 Personal Business 107 126 131 132 133 126 20% 104 3
Slide 33: Macroeconomic Scenarios
Macroeconomic Scenarios SELECT MACROECONOMIC VARIABLES USED TO ESTIMATE EXPECTED CREDIT LOSSES Alternative Scenario – Alternative Scenario – Alternative Scenario – Next 12 Months Base Case Scenario Optimistic Pessimistic Very Pessimistic Q4/24 Q3/24 Q4/24 Q3/24 Q4/24 Q3/24 Q4/24 Q3/24 Canada Real GD
Slide 34: Macroeconomic Scenarios
Macroeconomic Scenarios The following charts provide a quarterly breakdown of key macroeconomic variables used for our base case scenarios to calculate the modelled estimate for the allowance for credit losses. CANADA REAL GDP U.S. REAL GDP 2.9 27.0 CAD, trillions (ch. $2017) 2.8 USD, trillions (ch.
Slide 35: Commercial Real Estate
Commercial Real Estate Portfolio comprised of Commercial Real Estate, and Contractor loans which include Engineering & Project Management and Trade Contractors SPOT LOANS OUTSTANDING HIGHLIGHTS Q4/23 Q3/24 Q4/24 Total Portfolio: $66.0Bn • Exposure reduced marginally with continued heavier Y/Y: -2% w
Slide 36: Canadian Retail: Loans and Provisions
Canadian Retail: Loans and Provisions 1 MORTGAGES AUTO LOANS 10 152 143 153 135 6 5 6 89 106 78 83 3 141 111 2 76 89 104 114 1 1 1 1 65 0 4 3 63 3 1 1 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 LINES OF CREDIT CREDIT CARDS 559 167 458 469 357 389
Slide 37: Canadian Residential Mortgages
Canadian Residential Mortgages Asset yields on variable rate mortgages reprice with each change to Scotiabank’s prime rate MORTGAGE PORTFOLIO1 in $Bn (Spot) 24% 30% in $Bn (Spot) Mortgage Portfolio Variable Mortgages Insured Variable Total Outstanding Balance $298 $89 Uninsured Outstanding Balance $
Slide 38: Canadian Residential Mortgages
Canadian Residential Mortgages MORTGAGE PORTFOLIO1 in $Bn (Spot) Freehold Condos 83% ($248Bn) Freehold 165.7 24.1 59.8 Total 141.6 17.7 31.6 19.6 11.6 9.5 Portfolio1 42.1 3.8 3.0 0.3 0.7 27.8 $298Bn Ontario BC & Territories Alberta 16.6 Quebec 11.3 Atlantic 8.8 Manitoba & Provinces Saskatchewan 17%
Slide 39: International Retail: Loans and Provisions
International Retail: Loans and Provisions CARIBBEAN AND MEXICO CHILE CENTRAL AMERICA 155 185 148 201 188 188 175 MARKETS 132 128 129 136 136 139 151 158 162 119 109 121 124 WITH 102 104 137 154 133 GREATER 128 160 124 168 166 146 WEIGHTING 107 109 124 148 105 101 114 91 128 95 94 TO SECURED 78 73 9
Slide 40: Retail 90+ Days Past Due Loans
Retail 90+ Days Past Due Loans1 Canada Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Mortgages 0.11% 0.12% 0.14% 0.16% 0.20% 0.19% 0.20% 0.23% Personal Loans 0.56% 0.58% 0.63% 0.69% 0.55% 0.50% 0.50% 0.51% Credit Cards 0.70% 0.71% 0.61% 0.70% 0.79% 0.79% 0.74% 0.86% Secured and 0.20% 0.25% 0.22% 0
Slide 41: Trading Revenue and VaR
Trading Revenue and VaR1 Trading NO TRADING LOSS DAY (Q4/24) Results Average Total VaR2 Q4/24: $ 10.9 MM Q3/24: $ 13.9 MM 3-months ending Oct 31, 2024 (in millions) Q4/23: $ 16.9 MM 50 40 30 20 10 0 -10 -20 Trading Revenue Total VaR 1. Refer to Glossary from pages 68 to 70 for the description of the
Slide 42: International Banking: Mexico and Chile
International Banking: Mexico and Chile1 MEXICO CHILE $MM , Reported Constant Dollar2 $MM , Reported Constant Dollar2 Q4/24 Y/Y Q/Q Y/Y Q/Q Q4/24 Y/Y Q/Q Y/Y Q/Q Revenue 710 (1%) (7%) 9% 1% Revenue 584 1% (1%) 5% 0% Expenses 327 (8%) (12%) 2% (3%) Expenses 236 (3%) 0% 1% 0% Provision for credit loss
Slide 43: International Banking: Peru and Colombia
International Banking: Peru and Colombia1 PERU COLOMBIA $MM , Reported Constant Dollar2 $MM , Reported Constant Dollar2 Q4/24 Y/Y Q/Q Y/Y Q/Q Q4/24 Y/Y Q/Q Y/Y Q/Q Revenue 453 17% 0% 17% 0% Revenue 286 14% 0% 16% 5% Expenses 180 7% 7% 6% 7% Expenses 169 (3%) (3%) (2%) 2% Provision for credit losses
Slide 44: International Banking: Caribbean and Central America
International Banking: Caribbean and Central America1 FINANCIAL PERFORMANCE AND METRICS GEOGRAPHIC DISTRIBUTION $MM , Reported Constant Dollar2 REVENUE Q4/24 Y/Y Q/Q Y/Y Q/Q Revenue 632 5% (2%) 5% (2%) Expenses 337 (1%) (2%) (1%) (1%) 18% Provision for credit losses 44 22% 29% 26% 29% 68% NIAEH 171
Slide 45: Impact of Foreign Currency Translation
Impact of Foreign Currency Translation The table below reflects the estimated impact of foreign currency translation on key income statement items and is computed on a basis that is different than the “Constant dollar” table in Non-GAAP Measures on page 56. Average Exchange Rate Q4/24 Q3/24 Q4/23 Q/
Slide 46: Non-GAAP Measures
1 2 Non-GAAP Measures 3 4 5 46
Slide 47: Non-GAAP Measures
Non-GAAP Measures The Bank uses a number of financial measures and ratios to assess its performance, as well as the performance of its operating segments. Some of these financial measures and ratios are presented on a non-GAAP basis and are not calculated in accordance with Generally Accepted Accoun
Slide 48: Non-GAAP Measures
Non-GAAP Measures NON-GAAP DEFINITIONS (CONT’D) Net interest margin is a non-GAAP ratio that is used to measure the return generated by the Bank’s core earning assets, net of the cost of funding. Pages 58, Net interest margin (NIM) Net interest margin is calculated as core net interest income divide
Slide 49: Non-GAAP – Adjusted Results and Diluted EPS
Non-GAAP – Adjusted Results and Diluted EPS $MM (unless indicated otherwise) Q4/24 Q3/24 Q4/23 FY2024 FY2023 Reported Results Total revenue 8,526 8,364 8,272 33,670 32,214 Provision for credit losses 1,030 1,052 1,256 4,051 3,422 Non-interest expenses 5,296 4,949 5,527 19,695 19,121 Income tax expen
Slide 50: Non-GAAP – Business Line Earnings
Non-GAAP – Business Line Earnings Three months ending October 31, 2024 Three months ending July 31, 2024 Global Global Global Global Canadian International Canadian International $MM (unless indicated otherwise) Wealth Banking and Other Total Wealth Banking and Other Total Banking Banking Banking Ba
Slide 51: Non-GAAP – Business Line Earnings
Non-GAAP – Business Line Earnings Three months ending October 31, 2023 Global Global Canadian International $MM (unless indicated otherwise) Wealth Banking and Other Total Banking Banking Management Markets Reported Results Total revenue 3,312 2,780 1,332 1,354 (506) 8,272 Provision for credit losse
Slide 52: Non-GAAP – Adjusted Results and Diluted EPS Footnotes
Non-GAAP – Adjusted Results and Diluted EPS Footnotes 1. These costs relate to the amortization of intangible assets recognized upon the acquisition of businesses, excluding software, and are recorded in the Canadian Banking, International Banking and Global Wealth Management operating segments. 2.
Slide 53: Non-GAAP – Other Segment Adjusted Earnings
Non-GAAP – Other Segment Adjusted Earnings $MM Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Reported NIAEH (759) (474) (421) (729) (870) Divestitures and wind-down of operations1 (319) - - 89 - 2 Restructuring charge and severance provisions 258 - - - 38 Consolidation of real estate and contract termination costs3
Slide 54: Non-GAAP – Business Line Return on Equity
Non-GAAP – Business Line Return on Equity International Global Wealth Global Banking Total Reported $MM (unless otherwise stated) Canadian Banking Other Total Banking Management and Markets (Adjusted) For the three months ended October 31, 2024 Net income attributable to common shareholders 1,061 62
Slide 55: Non-GAAP – Return on Tangible Common Equity
Non-GAAP – Return on Tangible Common Equity For the three months ended For the year ending ($ millions) Q4/241 Q3/241 Q4/231 October 31, 2024 October 31, 2023 Reported Average common equity - Reported2 73,158 71,651 68,352 71,127 67,400 Average goodwill2,3 - 8,984 - 9,052 - 9,327 - 9,056 - 9,376 Ave
Slide 56: Non-GAAP – International Banking Constant Dollar Basis
Non-GAAP – International Banking Constant Dollar Basis Reported Results For the three months ended ($MM) July 31, 2024⁽¹⁾ October 31, 2023⁽¹⁾ Foreign Constant Foreign Constant (Taxable equivalent basis) Reported exchange dollar Reported exchange dollar Net interest income $ 2,231 $ 68 $ 2,163 $ 2,13
Slide 57: Non-GAAP – International Banking Constant Dollar Basis
Non-GAAP – International Banking Constant Dollar Basis Reported Results For the three months ended ($MM) April 30, 2024⁽¹⁾ January 31, 2024⁽¹⁾ Foreign Constant Foreign Constant (Taxable equivalent basis) Reported exchange dollar Reported exchange dollar Net interest income $ 2,261 $ 58 $ 2,203 $ 2,2
Slide 58: Non-GAAP - Net Interest Margin and Risk Adjusted Margin
Non-GAAP - Net Interest Margin and Risk Adjusted Margin $MM (unless specified otherwise) All-Bank Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 F24 F23 1 Average total assets 1,410,124 1,423,337 1,411,181 1,422,740 1,418,795 1,419,284 1,396,092 Less: Non-earning assets 116,453 110,932 108,405 105,539 106,621 108,11
Slide 59: Non-GAAP - Net Interest Margin and Risk Adjusted Margin
Non-GAAP - Net Interest Margin and Risk Adjusted Margin $MM (unless specified otherwise) International Banking Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Average total assets1 238,343 236,467 235,303 233,644 224,536 Less: Non-earning assets 18,915 16,956 16,554 15,326 14,973 Average total earning assets1 219,428
Slide 60: Non-GAAP – All Bank Loan to Deposit Ratio
Non-GAAP – All Bank Loan to Deposit Ratio $Bn (unless indicated otherwise) Q4/23 Q3/24 Q4/24 FY24 FY23 Avg Loans & Acceptances Loans 749 753 755 750 756 Acceptances 21 7 1 10 21 Total 770 761 756 760 777 Avg Deposits Deposits from customers 903 907 899 903 901 Deposits from banks 53 49 46 49 55 Tota
Slide 61: Non-GAAP - International Banking
Non-GAAP - International Banking $Bn Reported Basis Reported Basis (Constant FX) International Business Banking Loans Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Investment Grade 38 37 35 33 32 37 37 35 32 32 Non-Investment Grade 57 55 55 56 54 55 55 55 55 54 $Bn Reported Basis Const
Slide 62: Non-GAAP - Mexico
Non-GAAP - Mexico $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Pre-tax, pre-provision profit Q4/23 Q3/24 Q4/24 Q4/23 Q3/24 Q4/24 Revenue 716 767 710 654 703 710 Expenses 357 372 327 322 336 327 Provision for Credit Losses 90 107 109 80 98 109 NIAEH 201 222 210 188 207
Slide 63: Non-GAAP - Chile
Non-GAAP - Chile $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Pre-tax, pre-provision profit Q4/23 Q3/24 Q4/24 Q4/23 Q3/24 Q4/24 Revenue 579 591 584 557 586 584 Expenses 244 237 236 234 236 236 Provision for Credit Losses 136 144 151 131 143 151 NIAEH 148 160 149 141 1
Slide 64: Non-GAAP - Peru
Non-GAAP - Peru $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Pre-tax, pre-provision profit Q4/23 Q3/24 Q4/24 Q4/23 Q3/24 Q4/24 Revenue 386 454 453 388 453 453 Expenses 169 169 180 170 169 180 Provision for Credit Losses 127 127 118 127 127 118 NIAEH 68 117 120 68 117
Slide 65: Non-GAAP - Colombia
Non-GAAP - Colombia $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Pre-tax, pre-provision profit Q4/23 Q3/24 Q4/24 Q4/23 Q3/24 Q4/24 Revenue 250 285 286 247 272 286 Expenses 175 174 169 173 166 169 Provision for Credit Losses 102 156 114 101 148 114 NIAEH (10) (13) 4 (1
Slide 66: Non-GAAP - Caribbean and Central America
Non-GAAP - Caribbean and Central America $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Pre-tax, pre-provision profit Q4/23 Q3/24 Q4/24 Q4/23 Q3/24 Q4/24 Revenue 603 647 632 601 643 632 Expenses 342 343 337 341 341 337 Provision for Credit Losses 36 34 44 35 34 44 NIAEH
Slide 67: Non-GAAP – International Banking Return on Equity
Non-GAAP – International Banking Return on Equity English Dominican Central Total International Reported ($MM unless otherwise specified) Mexico Peru Chile Colombia Caribbean Republic America Other Banking For the three months ending October 31, 2024 Net Income Attributable to Common Shareholders 21
Slide 68: Glossary: Other Financial Measures & Strategic Objectives
1 2 Glossary: Other Financial Measures & 3 Strategic Objectives 4 5 68
Slide 69: Glossary – Other Financial Measures
Glossary – Other Financial Measures An allowance set aside which, in management’s opinion, is adequate to absorb credit-related losses on all financial assets and off-balance Allowance for Credit Losses (ACL) Ratio sheet exposures subject to impairment assessment. It includes allowances for performi
Slide 70: Glossary – Strategic Objectives
Glossary – Strategic Objectives All Bank Incremental capital in priority Incremental capital deployed into priority businesses as identified at Investor Day (“Accelerate & Core Growth”) as a percentage businesses of total incremental capital deployed during the five-year FY24 to FY28 period. Persona
Slide 71: Investor Relations Contacts
John McCartney, Senior Vice-President 416-863-7579 john.mccartney@scotiabank.com Investor Rebecca Hoang, Vice President Relations 416-933-0129 Contacts rebecca.hoang@scotiabank.com 71
The Bank of Nova Scotia — Q4 2024 Earnings Presentation on 6ix