Bank Of Nova Scotia · TSX:BNS
Bank Of Nova Scotia — The Bank of Nova Scotia — Q2 2024 Earnings Presentation
66 slides from Bank Of Nova Scotia's earnings presentation, May 28, 2024
Slide 1: Investor Presentation
Investor Presentation May 28, 2024
Slide 2: Caution Regarding Forward-Looking Statements
Caution Regarding Forward-Looking Statements Forward-looking Statements From time to time, our public communications include oral or global capital markets activity; the Bank’s ability to attract, develop and retain key executives; written forward-looking statements. Statements of this type are incl
Slide 3: Opening Remarks
Opening Remarks Scott Thomson President & CEO 3
Slide 4: Highlights
Highlights Grow and scale Mexico earnings1 up 19% YTD and Global Banking and Markets in priority businesses deposits1 up 23% YTD U.S. earnings up 32% YTD Earn 95,000 net new primary clients Canadian Wealth Management primary client in Canadian Retail Banking YTD financial plans delivered up 27% YTD
Slide 5: Q2/24 Overview
Q2/24 Overview Raj Viswanathan Group Head & CFO 5
Slide 6: Q2 2024 Financial Performance
Q2 2024 Financial Performance $MM, except EPS Q2/24 Y/Y Q/Q Y/Y HIGHLIGHTS Reported Net Income $2,092 (3%) (5%) • Diluted EPS down 7% Diluted EPS $1.57 (7%) (7%) o Higher PCLs Revenue $8,347 5% (1%) • Revenues up 5% Expenses $4,711 3% (1%) o Net interest income up 5%; higher margins Pre-Tax, Pre-Pro
Slide 7: Strong Capital Position
Strong Capital Position Q/Q CHANGE IN CET1 RATIO (%)1 • CET1 ratio of 13.2%, benefited from earnings, lower RWA, and share issuances through DRIP, partly offset by losses from FVOCI securities • Benefit from lower RWA of 15 bps was mainly driven by: o RWA optimization activities (book size) partly o
Slide 8: Canadian Banking
Canadian Banking $MM Q2/24 Y/Y Q/Q Y/Y HIGHLIGHTS Reported • Net Income down 4% Net Income1 $1,008 (4%) (8%) o Higher PCLs Revenue $3,336 7% (1%) • Revenue up 7% Expenses $1,518 4% 1% o Net interest income up 12% from deposit growth and margin expansion • NIM2 up 26 bps Pre-Tax, Pre-Provision Profit
Slide 9: Global Wealth Management
Global Wealth Management $MM Q2/24 Y/Y Q/Q Y/Y HIGHLIGHTS Reported Net Income1 $380 8% 3% • Net Income up 8% Revenue $1,414 9% 4% o Canadian earnings up 6% o International Wealth Management up 19% Expenses $895 9% 4% • Revenue up 9% Pre-Tax, Pre-Provision Profit2 $519 8% 3% o Higher brokerage revenu
Slide 10: Global Banking and Markets
Global Banking and Markets $MM Q2/24 Y/Y Q/Q Y/Y HIGHLIGHTS Reported Net Income1 $428 7% (3%) • Net Income up 7% o US net income of $271MM (up 55% Y/Y) Revenue $1,321 (2%) (4%) • Revenue down 2% Expenses $781 4% (3%) o Net interest income down 14% Pre-Tax, Pre-Provision Profit2 $540 (10%) (7%) • Exp
Slide 11: 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 Q2/24 Y/Y Q/Q Y/Y Q/Q Reported • Net Income down 2% Net Income1 $671 6% (10%) (2%) (8%) o Higher PCLs o GBM Latam up 5% Revenue $2,992 9% (4%) 6% (3%) • Revenue up 6% Expenses $1,537 4% (2%) 2
Slide 12: Other
Other REPORTED NET LOSS1 ($MM) HIGHLIGHTS • Reported and adjusted net loss decreased $53 million Q/Q from higher revenues and lower expenses • Reported and adjusted net loss increased $98 million Y/Y mainly from higher funding costs (323) (299) (421) (474) (759) Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 A D J U
Slide 13: Risk Review
Risk Review Phil Thomas Group Head & Chief Risk Officer 13
Slide 14: Allowance for Credit Losses
Allowance for Credit Losses TOTAL ACLS1 ($MM) AND ACL RATIO2 HIGHLIGHTS 85 bps 86 bps 88 bps • Total ACL ratio up 2 bps Q/Q to 88 bps 75 bps 78 bps o Continued ACL build 6,629 6,597 6,768 o Adjusting for the impact of foreign currency 5,931 6,094 translation: 1,910 1,938 2,034 o Performing allowance
Slide 15: Provision for Credit Losses
Provision for Credit Losses $MM Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q/Q HIGHLIGHTS Provision for Credit Losses All-Bank • Total PCL ratio of 54bps, up 4 bps Q/Q Impaired 621 738 802 942 975 o Impaired PCLs are higher Q/Q driven by higher Performing 88 81 454 20 32 provisions in Canadian retail portfolios
Slide 16: Gross Impaired Loans and Net Write-offs
Gross Impaired Loans and Net Write-offs GILS ($MM) AND GIL RATIO1 HIGHLIGHTS 83 bps • Increased $280 million Q/Q driven by new formations in 80 bps 74 bps Canadian Commercial and International Banking 67 bps 70 bps o Canadian Banking: Lower Q/Q relating to retail mainly 6,399 auto 6,119 5,487 5,726
Slide 17: Appendix
1 2 Appendix 3 4 5 17
Slide 18: Net Income and Adjusted Diluted EPS
Net Income and Adjusted Diluted EPS Net Income ($MM) and EPS ($ per share) Reported View Q2/23 Q1/24 Q2/24 Net Income Attributable to Common Shareholders Net Income attributable to common shareholders 2,018 2,066 1,943 Dilutive impact of share-based payment options and others2 (12) (15) (15) Net Inc
Slide 19: Strong Balance Sheet Metrics
Strong Balance Sheet Metrics $Bn (unless indicated otherwise) Q2/23 Q1/24 Q2/24 Y/Y Capital Metrics CET1 Ratio1 12.3% 12.9% 13.2% 90 bps 1 Tier 1 Capital Ratio 14.1% 14.8% 15.2% 110 bps 1 Total Capital Ratio 16.2% 16.7% 17.1% 90 bps TLAC Ratio2 28.3% 28.9% 28.9% 60 bps 3 Leverage Ratio 4.2% 4.3% 4.4
Slide 20: Risk Adjusted Margin and NIM
Risk Adjusted Margin and NIM RISK ADJUSTED MARGIN (RAM)1 ALL-BANK NIM1 (3 bps) 3.23% 3.32% 3.22% 3.16% 1 bp 3.08% 2.20% 2.14% 219 bps 2.08% 2.06% 217 bps 1.79% 1.80% 1.74% 1.77% 1.72% 1.60% Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q1/24 Spreads Business Mix Q2/24 All-Bank Canadian Banking International Banking
Slide 21: Interest Rate Sensitivity
Interest Rate Sensitivity NET INTEREST INCOME SENSITIVITY1 POLICY RATE CHANGE AND OUTLOOK POLICY RATE CHANGE AND OUTLOOK • NII is expected to benefit from the net impact of fixed Policy Rate Change by BNS asset and liability repricing over time and a reduction in rate Current Forecast Policy Rate3 F
Slide 22: 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 Q1E2 Q2F Q3F Q4F Q1F Q2F Q3F Q4F Year Year Canada 1.6 5.3 3.8 1.1 1.0 1.2 1.8 2.0 1.5 1.8 1.9 2.1 2.3 2.0 U.S. 2.0 5.8 1.9 2.5 3.0 3.0 2.0 1.6 2.4 1.4 1.3 1.6 1.6 1.5 Mexi
Slide 23: Digital Progress: Canada
Digital Progress: Canada DIGITAL SALES (%) ACTIVE DIGITAL USERS (MM) +140 bps +7% 28.8 4.9 27.4 4.5 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 DIGITAL ADOPTION (%) ACTIVE MOBILE USERS (MM) +270 bps +10% 64.5 4.3 3.9 61.8 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 De
Slide 24: Digital Progress: International
Digital Progress: International1 DIGITAL SALES (%) ACTIVE DIGITAL USERS (MM) +250 bps 0% 47.3 49.8 4.4 4.4 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 DIGITAL ADOPTION (%) ACTIVE MOBILE USERS (MM) (60 bps) 0% 57.6 57.0 3.9 3.9 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q2/23 Q3/23 Q4/23 Q1/24 Q2/
Slide 25: Revenue Growth
Revenue Growth CANADIAN BANKING1 INTERNATIONAL BANKING1 in $MM in $MM Constant Dollar Basis2: +6% Y/Y +7% Reported +9% 3,387 3,336 3,103 2,992 3,128 2,742 27 32 (1%) 805 (3%) 32 620 609 (1%) 793 821 614 +10% 2,581 2,543 2,456 2,350 12% 2,307 2,095 Q2/23 Q1/24 Q2/24 Q2/23 Q1/24 Q2/24 Retail Banking B
Slide 26: Non-Interest Expense
Non-Interest Expense NON-INTEREST EXPENSE HIGHLIGHTS $MM Q2/24 Q/Q Y/Y Y/Y Salaries and Benefits 1,813 2% 1% • Expenses increased 3% o Higher technology-related costs, personnel costs from Performance-based Compensation 577 13% 10% inflationary adjustments, performance-based compensation, Share-base
Slide 27: 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 Constant Dollar Basis3: (2%) Y/Y in $Bn (1%) Reported (3%) 447 442 442 177 174 171 86 (13%) 91 92 8 9 9 73 74 74 97 92 90 9 9 9 132 122 281 19 19 19 115 268 268 53 5
Slide 28: 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: (7%) Y/Y in $Bn +8% Reported (7%) (13%) 91 92 97 96 132 88 90 94 126 86 92 90 123 122 115 23 24 24 24 23 +1% 56 58 +9% 58 58 57 54
Slide 29: Strong Deposit Growth
Strong Deposit Growth AVERAGE DEPOSITS BY SEGMENT Q2/24 AVERAGE DEPOSIT MIX in $Bn CB IB GBM GWM 3 2 Term - 697 705 Notice - 682 679 Business Business 624 21% 1 591 8% Demand- 538 Personal 2% 340 337 358 362 308 294 261 Notice 2- 1 $705Bn Demand - Personal 107 126 126 131 135 Business 20% 104 111 30
Slide 30: 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 Q2/24 Q1/24 Q2/24 Q1/24 Q2/24 Q1/24 Q2/24 Q1/24 Canada Real GD
Slide 31: 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 CAD, trillions (ch. $2017) USD, trillions (ch. $2017) 2.9 Ra
Slide 32: 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 OUTSTANDING1 HIGHLIGHTS Q2/23 Q1/24 Q2/24 Total Portfolio: $67.1Bn • Exposure increased marginally Q/Q with continued heavier Y/Y
Slide 33: Canadian Retail: Loans and Provisions
Canadian Retail: Loans and Provisions 1 MORTGAGES AUTO LOANS 10 152 143 89 106 6 78 83 3 39 50 141 2 76 89 104 1 1 1 1 4 65 0 1 0 3 45 63 0 1 1 31 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 LINES OF CREDIT CREDIT CARDS2 559 167 458 380 357 389 100
Slide 34: 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) 25% 32% in $Bn (Spot) Mortgage Portfolio Variable Mortgages Insured Variable Total Outstanding Balance $289 $92 Uninsured Outstanding Balance $
Slide 35: Canadian Residential Mortgages
Canadian Residential Mortgages MORTGAGE PORTFOLIO1 in $Bn (Spot) Freehold Condos 84% ($243Bn) Freehold 161.7 22.8 57.4 Total 138.9 16.4 30.4 19.3 11.2 9.4 Portfolio1 41.0 26.9 3.5 2.8 0.3 0.6 $289Bn Ontario BC & Territories Alberta 16.5 Quebec 10.9 Atlantic 8.8 Manitoba & Provinces Saskatchewan 16%
Slide 36: International Retail: Loans and Provisions
International Retail: Loans and Provisions CARIBBEAN AND MEXICO CHILE CENTRAL AMERICA 155 201 188 188 MARKETS 148 154 136 136 132 128 158 133 121 124 WITH 129 104 137 119 109 103 102 133 GREATER 106 WEIGHTING 98 124 65 148 168 166 108 115 95 105 101 91 107 109 124 128 94 TO SECURED 72 78 93 3 62 71
Slide 37: Retail 90+ Days Past Due Loans
Retail 90+ Days Past Due Loans1 Canada Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Mortgages 0.09% 0.09% 0.11% 0.12% 0.14% 0.16% 0.20% 0.19% Personal Loans 0.42% 0.49% 0.56% 0.58% 0.63% 0.69% 0.55% 0.50% Credit Cards 0.65% 0.72% 0.70% 0.71% 0.61% 0.70% 0.79% 0.79% Secured and 0.16% 0.17% 0.20% 0
Slide 38: Trading Results
Trading Results Trading NO TRADING LOSS DAY (Q2/24) TRADING REVENUE ($MM) A N D V A R 1,2 ( Q 2 / 2 4 ) Results Average VaR1 Q2/24: $ 18.0 MM Q1/24: $17.0 MM Q2/23: $17.4 MM 30 50 40 25 30 20 # Of Days In Quarter 20 $MM 15 10 0 10 -10 5 -20 0 -30 <0 5 6 7 8 9 10 15 20 25 >25 Actual Daily Trading Rev
Slide 39: International Banking: Mexico and Chile
International Banking: Mexico and Chile1 MEXICO CHILE $MM , Reported Constant Dollar2 $MM , Reported Constant Dollar2 Q2/24 Y/Y Q/Q Y/Y Q/Q Q2/24 Y/Y Q/Q Y/Y Q/Q Revenue 800 19% (2%) 10% (4%) Revenue 584 (4%) (10%) 10% (3%) Expenses 392 17% 1% 7% (1%) Expenses 224 (14%) (9%) 3% (2%) Provision for cr
Slide 40: International Banking: Peru and Colombia
International Banking: Peru and Colombia1 PERU COLOMBIA $MM , Reported Constant Dollar2 $MM , Reported Constant Dollar2 Q2/24 Y/Y Q/Q Y/Y Q/Q Q2/24 Y/Y Q/Q Y/Y Q/Q Revenue 421 3% (9%) 2% (9%) Revenue 293 28% 4% 8% 2% Expenses 168 4% 5% 2% 4% Expenses 181 14% 0% (6%) (2%) Provision for credit losses
Slide 41: International Banking: Caribbean and Central America
International Banking: Caribbean and Central America1 FINANCIAL PERFORMANCE AND METRICS GEOGRAPHIC DISTRIBUTION $MM , Reported Constant Dollar2 REVENUE Q2/24 Y/Y Q/Q Y/Y Q/Q Revenue 609 (1%) (2%) 0% (2%) Expenses 331 (3%) (7%) (3%) (7%) 18% Provision for credit losses 34 38% (8%) 38% (8%) 66% NIAEH
Slide 42: 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 42. Average Exchange Rate Q2/24 Q1/24 Q2/23 Q/
Slide 43: Non-GAAP Measures
1 2 Non-GAAP Measures 3 4 5 43
Slide 44: 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 45: Non-GAAP Measures
Non-GAAP Measures NON-GAAP DEFINITIONS (CONT’D) Loan to Deposit Ratio (LDR) - This metric is calculated as Total Average Net Loans and Acceptances to Customers/Total Average Deposits excluding treasury sourced Page 56 All Bank deposit funding. This is a non-GAAP measure. Net interest margin is a non
Slide 46: Non-GAAP – Adjusted Results and Diluted EPS
Non-GAAP – Adjusted Results and Diluted EPS Adjustments: $MM (unless indicated otherwise) 1. These costs relate to the amortization of intangible assets recognized Q2/24 Q1/24 Q2/23 upon the acquisition of businesses, excluding software, and are recorded in the Canadian Banking, International Bankin
Slide 47: Non-GAAP – Business Line Earnings
Non-GAAP – Business Line Earnings Three months ending April 30, 2024 Three months ending January 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 B
Slide 48: Non-GAAP – Business Line Earnings
Non-GAAP – Business Line Earnings Three months ending April 30, 2023 Global Global Canadian International $MM (unless indicated otherwise) Wealth Banking and Other Total Banking Banking Management Markets Reported Results Total revenue 3,128 2,742 1,300 1,352 (609) 7,913 Provision for credit losses
Slide 49: Non-GAAP – Other Segment Adjusted Earnings
Non-GAAP – Other Segment Adjusted Earnings $MM Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Reported NIAEH (323) (299) (759) (474) (421) Divestitures and wind-down of operations1 - - (319) - - 2 Restructuring charge and severance provisions - - 256 - - Consolidation of real estate and contract - - 63 - - terminati
Slide 50: Non-GAAP – Business Line Return on Equity
Non-GAAP – Business Line Return on Equity International Global Wealth Global Banking and Total Reported $MM (unless otherwise stated) Canadian Banking Other Total Banking Mnnagement Markets [Adjusted] For the three months ended April 30, 2024 Net income attributable to common shareholders 1,008 671
Slide 51: Non-GAAP – Return on Tangible Common Equity
Non-GAAP – Return on Tangible Common Equity For the three months ended ($MM) Q2/241 Q1/241 Q2/231 Reported Average common equity - Reported(2) 70,277 69,372 67,574 Average goodwill(2)(3) (9,065) (9,108) (9,514) Average acquisition-related intangibles (net of deferred tax)(2) (3,635) (3,651) (3,747)
Slide 52: Non-GAAP – International Banking Constant Dollar Basis
Non-GAAP – International Banking Constant Dollar Basis Reported Results For the three months ended ($MM) January 31, 2024⁽¹⁾ April 30, 2023⁽¹⁾ Foreign Constant Foreign Constant (Taxable equivalent basis) Reported exchange dollar Reported exchange dollar Net interest income $ 2,246 $ 19 $ 2,227 $ 1,9
Slide 53: Non-GAAP – International Banking Constant Dollar Basis
Non-GAAP – International Banking Constant Dollar Basis Reported Results For the three months ended ($MM) October 31, 2023⁽¹⁾ July 31, 2023⁽¹⁾ Foreign Constant Foreign Constant (Taxable equivalent basis) Reported exchange dollar Reported exchange dollar Net interest income $ 2,130 $ 16 $ 2,114 $ 2,11
Slide 54: Non-GAAP - Net Interest Margin and Risk Adjusted Margin
Non-GAAP - Net Interest Margin and Risk Adjusted Margin $MM (unless specified otherwise) All-Bank Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Average total assets1 1,390,729 1,401,783 1,410,124 1,423,337 1,411,181 Less: Non-earning assets 111,531 109,411 116,453 110,932 108,405 Average total earning assets1 1,279
Slide 55: Non-GAAP - Net Interest Margin and Risk Adjusted Margin
Non-GAAP - Net Interest Margin and Risk Adjusted Margin $MM (unless specified otherwise) International Banking Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Average total assets1 238,705 241,396 238,343 236,467 235,303 Less: Non-earning assets 20,050 19,611 18,915 16,956 16,554 Average total earning assets1 218,655
Slide 56: Non-GAAP – All Bank Loan to Deposit Ratio
Non-GAAP – All Bank Loan to Deposit Ratio $Bn (unless indicated otherwise) Q2/23 Q1/24 Q2/24 Loans Loans 763 746 744 Acceptances 20 18 14 Total 783 764 757 Deposits Deposits from customers 906 902 902 Deposits from banks 56 52 49 Total Deposits 962 954 951 Less: Treasury sourced deposit funding 283
Slide 57: Non-GAAP - International Banking
Non-GAAP - International Banking $Bn Reported Basis Reported Basis (Constant FX) International Banking Loans Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Investment Grade 39 38 38 37 35 39 38 38 37 35 Non-Investment Grade 58 58 57 55 55 58 58 56 56 55 Total 97 96 94 92 90 97 96 94 93
Slide 58: Non-GAAP - Mexico
Non-GAAP - Mexico $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Pre-tax, pre-provision profit Q2/23 Q1/24 Q2/24 Q2/23 Q1/24 Q2/24 Revenue 672 814 800 729 830 800 Expenses 335 387 392 364 395 392 Provision for Credit Losses 58 82 81 63 84 81 NIAEH 206 256 239 222 260 23
Slide 59: Non-GAAP - Chile
Non-GAAP - Chile $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Pre-tax, pre-provision profit Q2/23 Q1/24 Q2/24 Q2/23 Q1/24 Q2/24 Revenue 608 651 584 530 603 584 Expenses 259 246 224 219 230 224 Provision for Credit Losses 154 174 153 130 162 153 NIAEH 165 177 164 155 1
Slide 60: Non-GAAP - Peru
Non-GAAP - Peru $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Pre-tax, pre-provision profit Q2/23 Q1/24 Q2/24 Q2/23 Q1/24 Q2/24 Revenue 409 463 421 415 465 421 Expenses 161 160 168 164 161 168 Provision for Credit Losses 82 128 128 84 129 128 NIAEH 126 136 98 127 136 9
Slide 61: Non-GAAP - Colombia
Non-GAAP - Colombia $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Pre-tax, pre-provision profit Q2/23 Q1/24 Q2/24 Q2/23 Q1/24 Q2/24 Revenue 228 280 293 272 286 293 Expenses 159 181 181 193 185 181 Provision for Credit Losses 104 138 153 125 141 153 NIAEH (6) (12) (14)
Slide 62: Non-GAAP - Caribbean and Central America
Non-GAAP - Caribbean and Central America $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Pre-tax, pre-provision profit Q2/23 Q1/24 Q2/24 Q2/23 Q1/24 Q2/24 Revenue 614 620 609 612 623 609 Expenses 342 356 331 341 357 331 Provision for Credit Losses 25 37 34 25 37 34 NIAEH
Slide 63: Non-GAAP – International Banking Return on Equity
Non-GAAP – International Banking Return on Equity English Dominican Central Total International Reported ($MM unless otherwise specified) Mexico Peru Chile Colombia Caribbean Republic America Other Banking For the three months ending April 30, 2024 Net Income Attributable to Common Shareholders 239
Slide 64: Other Financial Measures
1 2 Other Financial Measures 3 4 5 64
Slide 65: Glossary – Other Financial Measures
Glossary – Other Financial Measures The ratio of period end total allowance for credit losses (excluding debt securities and deposits with financial institutions) divided by gross Allowance for Credit Losses (ACL) Ratio loans and acceptances. Assets administered by the Bank which are beneficially ow
Slide 66: Investor Relations Contacts
John McCartney, Senior Vice-President 416-863-7579 john.mccartney@scotiabank.com Investor Sophia Saeed, Vice-President Relations 416-933-8869 Contacts sophia.saeed@scotiabank.com Rebecca Hoang, Director 416-933-0129 rebecca.hoang@scotiabank.com 66
The Bank of Nova Scotia — Q2 2024 Earnings Presentation on 6ix