Bank Of Nova Scotia · TSX:BNS
Bank Of Nova Scotia — The Bank of Nova Scotia — Q3 2024 Earnings Presentation
67 slides from Bank Of Nova Scotia's earnings presentation, Aug 27, 2024
Slide 1: Investor Presentation
Investor Presentation August 27, 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 Bank’s information technology, internet connectivity, network accessibility, or other voice or written forward-looking statements. Statements of this type are included
Slide 3: Opening Remarks
Opening Remarks Scott Thomson President & CEO 3
Slide 4: Highlights
Highlights Strong revenue growth in Canada: International Wealth Grow and scale • Canadian Banking up 9% Y/Y Management earnings up in priority businesses • Canadian Wealth up 10% Y/Y 16% YTD/YTD Earn 143,000 net new primary clients P&C deposit growth primary client in Canadian Retail and Tangerine
Slide 5: Q3/24 Overview
Q3/24 Overview Raj Viswanathan Group Head & CFO 5
Slide 6: Q3 2024 Financial Performance
Q3 2024 Financial Performance $MM, except EPS Q3/24 Y/Y Q/Q Y/Y HIGHLIGHTS Reported Net Income $1,912 (13%) (9%) • Diluted EPS down 17%, adjusted1 diluted EPS down 5% Diluted EPS $1.41 (17%) (10%) o Adjusted1 PTPP up 6%, offset by higher PCLs Revenue $8,364 4% 0% • Revenues up 4%; adjusted1 revenue
Slide 7: Strong Capital Position
Strong Capital Position Q/Q CHANGE IN CET1 RATIO (%)1 • CET1 ratio of 13.3%, benefited from earnings, share issuances through DRIP and gains from FVOCI securities • RWA growth of 11 basis points, was driven by growth in balance sheet assets and undrawn commitments, and book quality changes; partly o
Slide 8: Canadian Banking
Canadian Banking $MM Q3/24 Y/Y Q/Q Y/Y HIGHLIGHTS Reported • Net Income up 6% Net Income1 $1,110 6% 10% o Higher revenue partly offset by higher PCL and expenses Revenue $3,480 9% 4% • Revenue up 9% (4% Q/Q) Expenses $1,526 5% 1% o Net interest income up 11% from deposit growth and margin expansion
Slide 9: Global Wealth Management
Global Wealth Management $MM Q3/24 Y/Y Q/Q Y/Y HIGHLIGHTS Reported • Net Income up 11% Net Income1 $408 11% 7% o Canadian earnings up 11% Revenue $1,473 10% 4% o International Wealth Management up 11% Expenses $915 9% 2% • Revenue up 10% o Higher brokerage revenues and net interest income in Canada
Slide 10: Global Banking and Markets
Global Banking and Markets $MM Q3/24 Y/Y Q/Q Y/Y HIGHLIGHTS Reported • Net Income down 4% Net Income1 418 (4%) (2%) • US net income of $244MM (up 12% Y/Y) Revenue 1,353 1% 2% • Revenue up 1% Expenses 795 5% 2% o Business Banking up 8% o Capital Markets down 8% Pre-Tax, Pre-Provision Profit2 558 (5%)
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 Q3/24 Y/Y Q/Q Y/Y Q/Q Reported • Revenue up 6% Net Income1 $669 8% 0% 7% (1%) o Net interest income up 7%; driven by margin expansion • Expenses up 4% Revenue $3,007 6% 1% 6% 0% • NIM2 up 33 b
Slide 12: Other
Other REPORTED NET LOSS1 ($MM) HIGHLIGHTS • Reported net loss of $729 million included $264 million adjusting items1, compared to a net loss of $421 million in the prior quarter • Adjusted net loss increased $166 million Y/Y (299) o Higher funding costs, partly offset by higher (421) income from liq
Slide 13: Risk Review
Risk Review Phil Thomas Group Head & Chief Risk Officer 13
Slide 14: Allowance for Credit Losses
Allowance for Credit Losses TOTAL ACLS1 ($MM) AND ACL RATIO2 HIGHLIGHTS 85 bps 86 bps 88 bps 89 bps • Total ACL ratio of 89 bps, up 1bp Q/Q 78 bps o Performing allowances were $4.8Bn up $50MM 6,629 6,597 6,768 6,860 Q/Q (or $82MM Q/Q excluding F/X) 6,094 o Impaired allowances increased by $42MM Q/Q
Slide 15: Provision for Credit Losses
Provision for Credit Losses $MM Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q/Q HIGHLIGHTS Provision for Credit Losses All-Bank • Total PCL ratio of 55bps, up 1 bp Q/Q Impaired 738 802 942 975 970 o Performing PCLs were higher driven by unfavourable Performing 81 454 20 32 82 macroeconomic outlook impacting most
Slide 16: Gross Impaired Loans and Net Write-offs
Gross Impaired Loans and Net Write-offs GILS ($MM) AND GIL RATIO1 HIGHLIGHTS 83 bps 84 bps • Increased $90 million Q/Q driven by new formations in 80 bps 74 bps Canadian Commercial and International Banking 70 bps o Canadian Banking: Higher Q/Q relating to commercial 6,399 6,489 formations mainly re
Slide 17: Appendix
1 2 Appendix 3 4 5 17
Slide 18: 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 $17.17 per share (Aug 23 closing price: $17.07) – Pending regulatory clearances, Initial Investment1 expected to close
Slide 19: Net Income and Adjusted Diluted EPS
Net Income and Adjusted Diluted EPS Reported View Q3/23 Q2/24 Q3/24 Net Income Attributable to Common Shareholders Net Income attributable to common shareholders 2,067 1,943 1,756 2 Dilutive impact of share-based payment options and others 2 (15) (15) Net Income attributable to common shareholders (
Slide 20: Strong Balance Sheet Metrics
Strong Balance Sheet Metrics $Bn (unless indicated otherwise) Q3/23 Q2/24 Q3/24 Y/Y Capital Metrics CET1 Ratio1 12.7% 13.2% 13.3% 60 bps 1 Tier 1 Capital Ratio 14.6% 15.2% 15.3% 70 bps 1 Total Capital Ratio 16.9% 17.1% 17.1% 20 bps TLAC Ratio2 30.5% 28.9% 29.1% (140 bps) 3 Leverage Ratio 4.1% 4.4% 4
Slide 21: Risk Adjusted Margin and NIM
Risk Adjusted Margin and NIM RISK ADJUSTED MARGIN (RAM)1 ALL-BANK NIM1 3.23% 3.32% 3.24% 3.16% (3 bps) 3.08% 0 bps 2.20% 2.14% 2.13% 2.06% 217 bps 1.79% 214 bps 1.74% 1.60% 1.77% 1.72% 1.69% Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q2/24 Spreads Business Mix Q3/24 All-Bank Canadian Banking International Bankin
Slide 22: Interest Rate Sensitivity
Interest Rate Sensitivity NET INTEREST INCOME SENSITIVITY1 POLICY RATE CHANGE AND OUTLOOK POLICY RATE CHANGE AND OUTLOOK Policy Rate Change by BNS • NII is expected to benefit from short-term liability rate Fiscal Quarters (bps) Current Forecast Policy Rate 3 repricing over time and steepening of th
Slide 23: 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 Q2E2 Q3F Q4F Q1F Q2F Q3F Q4F Year Year Canada 1.6 5.3 3.8 1.2 0.5 0.8 1.4 1.9 1.2 2.0 2.0 2.0 2.0 2.0 U.S. 2.0 5.8 1.9 2.5 2.9 3.1 2.1 1.7 2.4 1.8 1.8 1.8 1.8 1.8 Mexic
Slide 24: Digital Progress: Canada
Digital Progress: Canada DIGITAL SALES (%) ACTIVE DIGITAL USERS (MM) +350 bps +7.0% 33.0 4.9 29.5 4.6 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 DIGITAL ADOPTION (%) ACTIVE MOBILE USERS (MM) +300 bps +9.4% 64.8 4.4 4.0 61.8 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24
Slide 25: Digital Progress: International
Digital Progress: International1 DIGITAL SALES (%) ACTIVE DIGITAL USERS (MM) +30 bps 0% 51.7 52.0 4.4 4.4 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 DIGITAL ADOPTION (%) ACTIVE MOBILE USERS (MM) (260 bps) 0% 59.3 3.9 3.9 56.7 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q3/23 Q4/23 Q1/24 Q2/24 Q3/
Slide 26: Revenue Growth
Revenue Growth CANADIAN BANKING1 INTERNATIONAL BANKING1 in $MM in $MM Constant Dollar Basis2: +6% Y/Y +9% Reported +6% 3,204 3,336 3,480 2,992 3,007 2,835 32 31 -2% 32 793 866 +4% 609 647 9% 829 593 +10% 2,375 2,543 2,614 2,210 2,350 2,328 5% Q3/23 Q2/24 Q3/24 Q3/23 Q2/24 Q3/24 Retail Banking Busine
Slide 27: Non-Interest Expense
Non-Interest Expense NON-INTEREST EXPENSE HIGHLIGHTS $MM Q3/24 Q/Q Y/Y Y/Y Salaries and Benefits 1,876 3% 4% • Reported expenses increased $390MM (9%) • Higher personnel costs and technology-related costs to Performance-based Compensation 500 (13%) (2%) support business growth Share-based Compensati
Slide 28: 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 0% Reported (3%) 447 442 449 178 171 172 (14%) 88 92 94 8 9 9 74 74 74 96 90 89 9 9 9 126 277 19 19 19 115 268 271 109 54 54
Slide 29: 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 +7% Reported (7%) (14%) 92 94 90 91 96 94 88 92 126 123 90 89 122 115 109 24 24 24 23 24 0% 56 58 59 +9% 58 57 54 5
Slide 30: Strong Deposit Growth
Strong Deposit Growth AVERAGE DEPOSITS BY SEGMENT Q3/24 AVERAGE DEPOSIT MIX in $Bn CB IB GBM GWM 3 711 Notice -2 Term - 685 705 682 Business Business 624 8% 19% 1 591 Demand- 538 Personal 2% 340 344 362 371 308 294 261 2 Notice - Demand - 1 $711Bn Personal 107 126 129 135 133 Business 20% 104 32% 11
Slide 31: 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 Q3/24 Q2/24 Q3/24 Q2/24 Q3/24 Q2/24 Q3/24 Q2/24 Canada Real GD
Slide 32: 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 33: 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 Q3/23 Q2/24 Q3/24 Total Portfolio: $66.8Bn • Exposure reduced marginally Q/Q with continued heavier Y/Y:
Slide 34: Canadian Retail: Loans and Provisions
Canadian Retail: Loans and Provisions 1 MORTGAGES AUTO LOANS 10 143 153 152 6 5 89 106 78 83 3 50 141 2 76 89 104 111 1 1 1 1 4 65 0 3 45 63 0 1 1 1 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 LINES OF CREDIT CREDIT CARDS 559 167 458 357 389 100 11
Slide 35: 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% 30% in $Bn (Spot) Mortgage Portfolio Variable Mortgages Insured Variable Total Outstanding Balance $294 $89 Uninsured Outstanding Balance $
Slide 36: Canadian Residential Mortgages
Canadian Residential Mortgages MORTGAGE PORTFOLIO1 in $Bn (Spot) Freehold Condos 84% ($246Bn) Freehold 164.1 23.5 58.7 Total 140.6 17.1 31.1 19.5 11.4 9.5 Portfolio1 41.6 3.6 2.9 0.3 0.7 27.5 $294Bn Ontario BC & Territories Alberta 16.6 Quebec 11.1 Atlantic 8.8 Manitoba & Provinces Saskatchewan 16%
Slide 37: International Retail: Loans and Provisions
International Retail: Loans and Provisions CARIBBEAN AND MEXICO CHILE CENTRAL AMERICA 155 201 188 188 MARKETS 148 175 136 136 132 128 129 158 119 109 121 124 139 WITH 137 133 103 102 104 133 GREATER 106 124 128 168 166 146 115 WEIGHTING 107 109 124 148 105 101 98 128 95 94 TO SECURED 91 93 3 83 78 7
Slide 38: Retail 90+ Days Past Due Loans
Retail 90+ Days Past Due Loans1 Canada Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Mortgages 0.09% 0.11% 0.12% 0.14% 0.16% 0.20% 0.19% 0.20% Personal Loans 0.49% 0.56% 0.58% 0.63% 0.69% 0.55% 0.50% 0.50% Credit Cards 0.72% 0.70% 0.71% 0.61% 0.70% 0.79% 0.79% 0.74% Secured and 0.17% 0.20% 0.25% 0
Slide 39: Trading Revenue and VaR
Trading Revenue and VaR1 Trading NO TRADING LOSS DAY (Q3/24) Results Average VaR2 Q3/24: $ 13.9 MM Q2/24: $ 18.0 MM 3-months ending July 31, 2024 Q3/23: $ 15.5 MM (in millions) 30 25 20 15 10 5 0 -5 -10 -15 -20 -25 Trading Revenue Total VaR 1. Refer to Glossary from pages 64 to 65 for the descriptio
Slide 40: International Banking: Mexico and Chile
International Banking: Mexico and Chile1 MEXICO CHILE $MM , Reported Constant Dollar2 $MM , Reported Constant Dollar2 Q3/24 Y/Y Q/Q Y/Y Q/Q Q3/24 Y/Y Q/Q Y/Y Q/Q Revenue 767 4% (4%) 3% (1%) Revenue 591 (5%) 1% 7% (4%) Expenses 372 6% (5%) 6% (2%) Expenses 237 (7%) 6% 4% 1% Provision for credit losse
Slide 41: International Banking: Peru and Colombia
International Banking: Peru and Colombia1 PERU COLOMBIA $MM , Reported Constant Dollar2 $MM , Reported Constant Dollar2 Q3/24 Y/Y Q/Q Y/Y Q/Q Q3/24 Y/Y Q/Q Y/Y Q/Q Revenue 454 13% 8% 13% 7% Revenue 285 12% (3%) 3% (1%) Expenses 169 (2%) 1% (2%) 0% Expenses 174 9% (4%) 0% (3%) Provision for credit lo
Slide 42: International Banking: Caribbean and Central America
International Banking: Caribbean and Central America1 FINANCIAL PERFORMANCE AND METRICS GEOGRAPHIC DISTRIBUTION $MM , Reported Constant Dollar2 REVENUE Q3/24 Y/Y Q/Q Y/Y Q/Q Revenue 647 9% 6% 7% 6% Expenses 343 1% 3% 0% 3% 19% Provision for credit losses 34 26% (1%) 25% (2%) 66% NIAEH 185 19% 8% 16%
Slide 43: 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 53. Average Exchange Rate Q3/24 Q2/24 Q3/23 Q/
Slide 44: Non-GAAP Measures
1 2 Non-GAAP Measures 3 4 5 44
Slide 45: 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 46: 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 57 All Bank deposit funding. This is a non-GAAP measure. Net interest margin is a non
Slide 47: 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 Q3/24 Q2/24 Q3/23 YTD F24 YTD F23 intangible assets recognized upon the Reported Results acquisition of businesses, excluding software, and are recorded in the Total
Slide 48: Non-GAAP – Business Line Earnings
Non-GAAP – Business Line Earnings Three months ending July 31, 2024 Three months ending April 30, 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 Bank
Slide 49: Non-GAAP – Business Line Earnings
Non-GAAP – Business Line Earnings Three months ending July 31, 2023 Global Global Canadian International $MM (unless indicated otherwise) Wealth Banking and Other Total Banking Banking Management Markets Reported Results Total revenue 3,204 2,835 1,336 1,343 (651) 8,067 Provision for credit losses 3
Slide 50: Non-GAAP – Other Segment Adjusted Earnings
Non-GAAP – Other Segment Adjusted Earnings $MM Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Reported NIAEH (299) (759) (474) (421) (729) Divestitures and wind-down of operations1 - (319) - - 89 Restructuring charge and severance provisions2 - 256 - - - Consolidation of real estate and contract - 63 - - - terminati
Slide 51: Non-GAAP – Business Line Return on Equity
Non-GAAP – Business Line Return on Equity International Global Wealth Global Banking Total Reported $MM (unless otherwise stated) Canadian Banking Other Total Banking Management and Markets (Adjusted) For the three months ended July 31, 2024 Net income attributable to common shareholders 1,110 669 4
Slide 52: Non-GAAP – Return on Tangible Common Equity
Non-GAAP – Return on Tangible Common Equity For the three months ended ($MM) Q3/241 Q2/241 Q3/231 Reported Average common equity - Reported(2) 71,651 70,277 68,494 Average goodwill(2)(3) (9,052) (9,065) (9,515) Average acquisition-related intangibles (net of deferred tax)(2) (3,622) (3,635) (3,737)
Slide 53: 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⁾ July 31, 2023⁽¹⁾ Foreign Constant Foreign Constant (Taxable equivalent basis) Reported exchange dollar Reported exchange dollar Net interest income $ 2,261 $ (8) $ 2,269 $ 2,110
Slide 54: 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⁾ October 31, 2023⁽¹⁾ Foreign Constant Foreign Constant (Taxable equivalent basis) Reported exchange dollar Reported exchange dollar Net interest income $ 2,246 $ 13 $ 2,233 $ 2
Slide 55: Non-GAAP - Net Interest Margin and Risk Adjusted Margin
Non-GAAP - Net Interest Margin and Risk Adjusted Margin $MM (unless specified otherwise) All-Bank Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Average total assets1 1,401,783 1,410,124 1,423,337 1,411,181 1,422,740 Less: Non-earning assets 109,411 116,453 110,932 108,405 105,539 Average total earning assets1 1,292
Slide 56: Non-GAAP - Net Interest Margin and Risk Adjusted Margin
Non-GAAP - Net Interest Margin and Risk Adjusted Margin $MM (unless specified otherwise) International Banking Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Average total assets1 241,396 238,343 236,467 235,303 233,644 Less: Non-earning assets 19,611 18,915 16,956 16,554 15,326 Average total earning assets1 221,785
Slide 57: Non-GAAP – All Bank Loan to Deposit Ratio
Non-GAAP – All Bank Loan to Deposit Ratio $Bn (unless indicated otherwise) Q3/23 Q2/24 Q3/24 Loans Loans 758 744 753 Acceptances 22 14 7 Total 780 757 761 Deposits Deposits from customers 904 902 907 Deposits from banks 57 49 49 Total Deposits 961 951 956 Less: Treasury sourced deposit funding 276 2
Slide 58: Non-GAAP - International Banking
Non-GAAP - International Banking $Bn Reported Basis Reported Basis (Constant FX) International Banking Loans Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Investment Grade 38 38 37 35 33 38 38 37 35 33 Non-Investment Grade 58 57 55 55 56 58 56 56 56 56 Total 96 94 92 90 89 96 94 93 91
Slide 59: Non-GAAP - Mexico
Non-GAAP - Mexico $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Pre-tax, pre-provision profit Q3/23 Q2/24 Q3/24 Q3/23 Q2/24 Q3/24 Revenue 738 800 767 742 774 767 Expenses 351 392 372 352 378 372 Provision for Credit Losses 66 81 107 67 79 107 NIAEH 232 239 222 233 233
Slide 60: Non-GAAP - Chile
Non-GAAP - Chile $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Pre-tax, pre-provision profit Q3/23 Q2/24 Q3/24 Q3/23 Q2/24 Q3/24 Revenue 621 584 591 552 614 591 Expenses 254 224 237 227 235 237 Provision for Credit Losses 192 153 144 173 161 144 NIAEH 150 164 160 130 1
Slide 61: Non-GAAP - Peru
Non-GAAP - Peru $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Pre-tax, pre-provision profit Q3/23 Q2/24 Q3/24 Q3/23 Q2/24 Q3/24 Revenue 402 421 454 402 424 454 Expenses 172 168 169 172 169 169 Provision for Credit Losses 96 128 127 95 130 127 NIAEH 97 98 117 98 98 117
Slide 62: Non-GAAP - Colombia
Non-GAAP - Colombia $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Pre-tax, pre-provision profit Q3/23 Q2/24 Q3/24 Q3/23 Q2/24 Q3/24 Revenue 254 293 285 277 289 285 Expenses 159 181 174 174 179 174 Provision for Credit Losses 111 153 156 122 152 156 NIAEH (2) (14) (13)
Slide 63: Non-GAAP - Caribbean and Central America
Non-GAAP - Caribbean and Central America $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Pre-tax, pre-provision profit Q3/23 Q2/24 Q3/24 Q3/23 Q2/24 Q3/24 Revenue 593 609 647 604 613 647 Expenses 338 331 343 342 332 343 Provision for Credit Losses 27 34 34 27 34 34 NIAEH
Slide 64: Non-GAAP – International Banking Return on Equity
Non-GAAP – International Banking Return on Equity English Dominican Central Total International Reported ($MM unless otherwise specified) Mexico Peru Chile Colombia Caribbean Republic America Other Banking For the three months ending July 31, 2024 Net Income Attributable to Common Shareholders 222 1
Slide 65: Other Financial Measures
1 2 Other Financial Measures 3 4 5 65
Slide 66: 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 67: 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 67
The Bank of Nova Scotia — Q3 2024 Earnings Presentation on 6ix