Bank Of Nova Scotia · TSX:BNS
Bank Of Nova Scotia — The Bank of Nova Scotia — Q1 2025 Earnings Presentation
68 slides from Bank Of Nova Scotia's earnings presentation, Feb 25, 2025
Slide 1: Investor Presentation
Investor Presentation February 25, 2025
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 Investment in KeyCorp and Grow and scale GBM US earnings up 39% Y/Y announced sale of in priority businesses Colombia and Central America Earn 89% of originations through the 25% of SCENE+ members have a primary client Mortgage+ program in Q1 Scotiabank payment product relationships Make
Slide 5: Q1/25 Overview
Q1/25 Overview Raj Viswanathan Group Head & CFO 5
Slide 6: Q1 2025 Financial Performance
Q1 2025 Financial Performance $MM, except EPS Q1/25 Y/Y Q/Q Y/Y HIGHLIGHTS Reported Net Income $993 (55%) (41%) • Diluted EPS down 61%, adjusted1 up 4% Diluted EPS $0.66 (61%) (46%) o Reported includes $1.2 Bn loss related to announced sale of Revenue $9,372 11% 10% operations in Colombia and Centra
Slide 7: Strong Capital Position
Strong Capital Position Q/Q CHANGE IN CET1 RATIO (%)1 • The CET1 ratio of 12.9%, benefited from strong internal capital generation and RWA optimization during the quarter, offset by the completion of the KeyCorp investment and the impact from the announced sale of the Colombia, Costa Rica and Panama
Slide 8: Canadian Banking
Canadian Banking $MM Q1/25 Y/Y Q/Q Y/Y HIGHLIGHTS Reported • Net Income down 6% Net Income1 $913 (6%) (2%) o Higher PCLs and expenses, partly offset by higher revenues Revenue $3,412 6% 3% • Revenue up 6% (up 3% Q/Q) Expenses $1,611 8% 2% o Net interest income up 6% from volume growth and the benefi
Slide 9: Global Wealth Management
Global Wealth Management $MM Q1/25 Y/Y Q/Q Y/Y HIGHLIGHTS Reported • Net Income up 23% Net Income1 $407 23% 7% o Canadian earnings up 27% Revenue $1,579 19% 8% o International Wealth Management up 1%, impacted by Expenses $1,022 17% 8% unfavourable FX • Revenue up 19% Pre-Tax, Pre-Provision Profit2
Slide 10: Global Banking and Markets
Global Banking and Markets $MM Q1/25 Y/Y Q/Q Y/Y HIGHLIGHTS Reported Net Income1 517 33% 49% • Net Income up 33% o US net income of $296 MM (up 39% Y/Y) Revenue 1,594 23% 25% • Revenue up 23% Expenses 891 14% 10% o Capital Markets up 41% Pre-Tax, Pre-Provision Profit2 703 37% 51% o Business Banking
Slide 11: International Banking
International Banking Constant dollar basis2 Y/Y HIGHLIGHTS (CONSTANT DOLLAR) $MM Q1/25 Y/Y Q/Q Y/Y Q/Q Reported • Revenue up 1% Net Income1 651 (9%) 8% (7%) 5% o Net interest income down 1% driven by business mix Revenue 3,030 (1%) 6% 1% 4% o Non-interest income up 5% driven by capital markets Expe
Slide 12: Other
Other REPORTED NET LOSS1 ($MM) HIGHLIGHTS • Reported net loss this quarter of $1.3 billion included $1.2 billion loss (after-tax, net of NCI) related to announced sale of operations in Colombia and Central (230) (182) America (465) • Adjusted2 net loss decreased $25 million Q/Q due to: (619) o Reven
Slide 13: Risk Review
Risk Review Phil Thomas Group Head & Chief Risk Officer 13
Slide 14: Allowance for Credit Losses
Allowance for Credit Losses TOTAL ACLS1 ($MM) AND ACL RATIO2 HIGHLIGHTS 88 bps 89 bps 88 bps 91 bps 86 bps • Total ACL ratio of 91 bps, up 3 bps Q/Q 6,860 7,080 6,597 6,768 6,736 o Performing allowances were $4.89 Bn, up $208 2,190 MM Q/Q (+104 MM ex. F/X), mainly due to 1,938 2,034 2,076 2,054 cred
Slide 15: Provision for Credit Losses
Provision for Credit Losses $MM Q/Q HIGHLIGHTS $MM Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 All-Bank Impaired 942 975 970 1,043 1,064 • Total PCL ratio of 60 bps, up 6 bp Q/Q: Performing 20 32 82 (13) 98 o Performing provisions (5 bps) were driven by credit Total 962 1,007 1,052 1,030 1,162 migration and the c
Slide 16: Gross Impaired Loans and Net Write-offs
Gross Impaired Loans and Net Write-offs GILS ($MM) AND GIL RATIO1 HIGHLIGHTS 88 bps 91 bps • GILs increased by $325 million Q/Q, driven mainly by the 80 bps 83 bps 84 bps impact of foreign currency translation and higher formations in International Banking 7,064 71 o Canadian Banking: Q/Q increase i
Slide 17: Appendix
1 2 Appendix 3 4 5 17
Slide 18: Net Income and Adjusted Diluted EPS
Net Income and Adjusted Diluted EPS1 Net Income ($MM) and EPS ($ per share) Reported View Q1/24 Q4/24 Q1/25 Net Income Attributable to Common Shareholders Net Income attributable to common shareholders 2,066 1,521 1,025 Dilutive impact of share-based payment options and others2 (15) (3) (196) Net In
Slide 19: Strong Balance Sheet Metrics
Strong Balance Sheet Metrics $Bn (unless indicated otherwise) Q1/24 Q4/24 Q1/25 Y/Y Capital Metrics CET1 Ratio1 12.9% 13.1% 12.9% 0 bps 1 Tier 1 Capital Ratio 14.8% 15.0% 15.1% 30 bps 1 Total Capital Ratio 16.7% 16.7% 16.8% 10 bps TLAC Ratio2 28.9% 29.7% 28.8% (10 bps) 3 Leverage Ratio 4.3% 4.4% 4.4
Slide 20: Net Interest Income and Net Interest Margin
Net Interest Income and Net Interest Margin NET INTEREST MARGIN (NIM)1 HIGHLIGHTS 9 bps • Net interest income (NII) • Q/Q: up 5%, lower funding costs, loan growth and positive FX 223 bps impact 215 bps (1 bp) (0 bps) • Y/Y: up 8%, loan growth and higher NIM offset by negative FX impact • NIM • Q/Q:
Slide 21: Risk Adjusted Margin and NIM
Risk Adjusted Margin and NIM RISK ADJUSTED MARGIN (RAM)1 NET INTEREST MARGIN (NIM)1 4.35% 4.46% 4.41% 4.42% 4.40% 3.22% 3.31% 3.23% 3.26% 3.18% 2.04% 2.00% 1.96% 2.41% 2.41% 2.36% 2.32% 2.31% 1.93% 1.84% 2.19% 2.17% 2.14% 2.15% 2.23% 1.77% 1.72% 1.69% 1.72% 1.75% Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q1/24
Slide 22: Interest Rate Sensitivity and Outlook
Interest Rate Sensitivity and Outlook NET INTEREST INCOME SENSITIVITY1 POLICY RATE CHANGE AND OUTLOOK POLICY RATE CHANGE AND OUTLOOK Policy • Impact of an immediate and sustained 100 bps parallel shift Rate Change by BNS Fiscal rate Current Forecast Policy Rate3 on net interest income (NII) over a 1
Slide 23: KeyCorp Earnings Contribution
KeyCorp Earnings Contribution $MM Q1/25 Financial Statement Line BNS share of KeyCorp Earnings1 30 Income from Investments in Associate Purchase Accounting Impact (pre-tax)2 10 Income from Investments in Associate Taxes (5) Income Taxes Funding costs, net of taxes (15) Income Taxes and Net Interest
Slide 24: Economic Outlook in Core Markets
Economic Outlook in Core Markets REAL GDP (ANNUAL % CHANGE) Forecast1 2010-20 2025 2026 Country 2022 2023 2024E2 Average Full Full Q1F Q2F Q3F Q4F Q1F Q2F Q3F Q4F Year Year Canada 1.6 4.2 1.5 1.3 1.8 1.8 1.9 1.9 1.8 1.8 1.6 1.6 1.5 1.6 U.S. 2.0 2.5 2.9 2.8 2.5 2.1 1.7 1.5 1.9 1.5 1.7 1.8 1.8 1.7 Mex
Slide 25: Digital Progress
Digital Progress DIGITAL PROGRESS CANADIAN BANKING D I G I T A L U N I T A C T I V E D I G I T A L D I G I T A L A C T I V E M O B I L E Canadian Banking S A L E S ( % ) U S E R S ( M M ) A D O P T I O N ( % ) U S E R S ( M M ) • Digital Launches of VISA disputes and +150 bps +6% +220 bps +11% Debit
Slide 26: Revenue Growth
Revenue Growth CANADIAN BANKING1 INTERNATIONAL BANKING1 in $MM in $MM Constant Dollar Basis2: 1% Y/Y +6% Reported (1%) 3,412 3,225 3,319 3,074 3,030 780 829 932 2,859 19% 622 634 677 9% 2,444 2,490 2,480 1% 2,452 (4%) 2,225 2,353 Q1/24 Q4/24 Q1/25 Q1/24 Q4/24 Q1/25 Retail Banking Business Banking La
Slide 27: Non-Interest Expense
Non-Interest Expense NON-INTEREST EXPENSE HIGHLIGHTS $MM Q1/25 Y/Y Q/Q Y/Y Salaries and Benefits1 1,937 9% 5% • Reported expenses increased $1,752 million (up 37%) Performance-based Compensation 612 20% 5% • Adjusted1 expenses increased $390 million (up 8%) Share-based Compensation 160 0% 139% o Hig
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 in $Bn Constant Dollar Basis3: (2%) Y/Y 3% Reported (3%) 442 454 457 174 95 94 166 168 (15%) 91 9 9 9 75 74 74 92 86 86 9 8 8 122 275 279 19 19 20 268 103 101 54 53
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: (8%) Y/Y in $Bn 3% Reported (7%) (15%) 94 95 94 91 92 92 90 122 89 86 86 115 109 24 101 103 23 24 +0% +6% 22 24 56 58 59 60 60 55 5
Slide 30: Strong Deposit Growth
Strong Deposit Growth AVERAGE DEPOSITS BY SEGMENT6 Q1/25 AVERAGE DEPOSIT MIX in $Bn CB IB GBM GWM Notice - Term - Business 2 Business 3 706 712 727 8% 18% 682 697 Demand- 1 624 Personal 591 2% 367 358 379 381 340 308 294 Notice - Demand - $727Bn 2 Personal Business 1 20% 107 125 130 130 125 127 33%
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 Q1/25 Q4/24 Q1/25 Q4/24 Q1/25 Q4/24 Q1/25 Q4/24 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) USD, trillions (ch. $20
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 Q1/24 Q4/24 Q1/25 Total Portfolio: $64.3Bn • Exposure reduced marginally with continued heavier Y/Y: -3%
Slide 34: Canadian Retail: Loans and Provisions
Canadian Retail: Loans and Provisions 1 MORTGAGES AUTO LOANS 10 152 153 158 6 143 135 6 89 106 5 83 4 3 141 144 2 111 114 1 89 104 4 4 65 76 3 1 3 1 1 1 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 LINES OF CREDIT CREDIT CARDS 559 167 458 469 446 13
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) 23% 31% in $Bn (Spot) Mortgage Portfolio Variable Mortgages Insured Variable Total Outstanding Balance $304 $93 Uninsured Outstanding Balance $
Slide 36: Canadian Residential Mortgages
Canadian Residential Mortgages MORTGAGE PORTFOLIO1 in $Bn (Spot) Freehold Condos 83% ($253Bn) Freehold 169.0 24.9 61.3 Total 144.1 18.6 32.1 20.0 11.7 9.6 Portfolio1 42.7 3.8 3.0 0.3 0.7 28.3 $304Bn Ontario BC & Territories Alberta 17.0 Quebec 11.4 Atlantic 8.9 Manitoba & Provinces Saskatchewan 17%
Slide 37: International Retail: Loans and Provisions
International Retail: Loans and Provisions CARIBBEAN AND MEXICO CHILE CENTRAL AMERICA 201 224 151 175 188 188 136 136 139 MARKETS 185 201 175 162 121 124 148 155 158 137 109 WITH 132 128 129 104 182 GREATER 168 168 166 160 154 148 146 114 117 WEIGHTING 128 105 101 94 124 128 96 3 83 TO SECURED 107 1
Slide 38: Retail 90+ Days Past Due Loans
Retail 90+ Days Past Due Loans1 Canada Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Mortgages 0.12% 0.14% 0.16% 0.20% 0.19% 0.20% 0.23% 0.24% Personal Loans 0.58% 0.63% 0.69% 0.55% 0.50% 0.50% 0.51% 0.57% Credit Cards 0.71% 0.61% 0.70% 0.79% 0.79% 0.74% 0.86% 1.10% Secured and 0.25% 0.22% 0.29% 0
Slide 39: Trading Revenue and VaR
Trading Revenue and VaR1 NO TRADING LOSS DAY (Q1/25) Average Total VaR Q1/25: $ 17.1 MM Q4/24: $ 10.9 MM Q1/24: $ 17.0 MM 3-months ending Jan 31, 2025 (in millions) 50 40 30 20 10 0 -10 -20 -30 Trading Revenue Total VaR 1. Refer to Glossary from pages 66 to 67 for the description of the measure 39
Slide 40: International Banking: Mexico and Chile
International Banking: Mexico and Chile1 MEXICO CHILE $MM , Reported Constant Dollar2 $MM , Reported Constant Dollar2 Q1/25 Y/Y Q/Q Y/Y Q/Q Q1/25 Y/Y Q/Q Y/Y Q/Q Revenue 751 (9%) 4% 0% 2% Revenue 608 (7%) 3% (2%) 5% Expenses 395 (10%) 3% (1%) 4% Expenses 281 (3%) 3% 0% 4% Provision for credit losses
Slide 41: International Banking: Peru and Colombia
International Banking: Peru and Colombia1 PERU COLOMBIA $MM , Reported Constant Dollar2 $MM , Reported Constant Dollar2 Q1/25 Y/Y Q/Q Y/Y Q/Q Q1/25 Y/Y Q/Q Y/Y Q/Q Revenue 500 7% 10% 2% 5% Revenue 278 (2%) (4%) 2% (4%) Expenses 204 8% 0% 4% (4%) Expenses 186 (6%) 0% (2%) 0% Provision for credit loss
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 Q1/25 Y/Y Q/Q Y/Y Q/Q Revenue 677 9% 7% 4% 3% Expenses 375 5% 12% 1% 8% 15% Provision for credit losses 48 26% 9% 26% 4% 67% NIAEH 158 (1%) (8%) (7%
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 54 and 55. Average Exchange Rate Q1/25 Q4/24 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) 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 56, Net interest margin (NIM) Net interest margin is calculated as core net interest income divide
Slide 47: Non-GAAP – Adjusted Results and Diluted EPS
Non-GAAP – Adjusted Results and Diluted EPS $MM (unless indicated otherwise) Q1/25 Q4/24 Q1/24 Reported Results Total revenue 9,372 8,526 8,433 Provision for credit losses 1,162 1,030 962 Non-interest expenses 6,491 5,296 4,739 Income tax expense 726 511 533 Net income 993 1,689 2,199 Net income att
Slide 48: Non-GAAP – Business Line Earnings
Non-GAAP – Business Line Earnings Three months ending January 31, 2025 Three months ending October 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
Slide 49: Non-GAAP – Business Line Earnings
Non-GAAP – Business Line Earnings Three months ending January 31, 2024 Global Global Canadian International $MM (unless indicated otherwise) Wealth Banking and Other Total Banking Banking Management Markets Reported Results Total revenue 3,225 3,074 1,324 1,293 (483) 8,433 Provision for credit losse
Slide 50: Non-GAAP – Adjusted Results and Diluted EPS
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 51: Non-GAAP – Other Segment Adjusted Earnings
Non-GAAP – Other Segment Adjusted Earnings $MM Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Reported NIAEH (230) (182) (465) (619) (1,341) Divestitures and wind-down of operations1 - - 90 - 1,355 2 Restructuring charge and severance provisions - - - 38 - Impairment of non-financial assets3 - - - 379 - Impact of ad
Slide 52: Non-GAAP – Business Line Return on Equity
Non-GAAP – Business Line Return on Equity International Global Wealth Global Banking Total Reported $MM (unless otherwise stated) Canadian Banking Other Total Banking Management and Markets (Adjusted) For the three months ended January 31, 2025 Net income attributable to common shareholders 913 651
Slide 53: Non-GAAP – Return on Tangible Common Equity
Non-GAAP – Return on Tangible Common Equity For the three months ended ($ millions) Q1/25 Q4/24 Q1/24 Reported Average common equity – Reported1 74,077 73,158 69,372 Average goodwill1,2 (9,539) (8,984) (9,108) Average acquisition-related intangibles (net of deferred tax)1 (3,597) (3,609) (3,651) Ave
Slide 54: Non-GAAP – International Banking Constant Dollar Basis
Non-GAAP – International Banking Constant Dollar Basis Reported Results For the three months ended ($MM) October 31, 2024 January 31, 2024 Foreign Constant Foreign Constant (Taxable equivalent basis) Reported exchange dollar Reported exchange dollar Net interest income $ 2,147 $ (30)$ 2,177 $ 2,240
Slide 55: 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 April 30, 2024 Foreign Constant Foreign Constant (Taxable equivalent basis) Reported exchange dollar Reported exchange dollar Net interest income $ 2,226 $ 40 $ 2,186 $ 2,254 $ 30 $
Slide 56: Non-GAAP - Net Interest Margin and Risk Adjusted Margin
Non-GAAP - Net Interest Margin and Risk Adjusted Margin $MM (unless specified otherwise) All-Bank Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 1 Average total assets 1,423,337 1,411,181 1,422,740 1,418,795 1,460,615 Less: Non-earning assets 110,932 108,405 105,539 106,621 115,155 1 Average total earning assets 1,3
Slide 57: Non-GAAP - Net Interest Margin and Risk Adjusted Margin
Non-GAAP - Net Interest Margin and Risk Adjusted Margin $MM (unless specified otherwise) International Banking Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Average total assets1 235,485 234,305 232,609 223,525 228,877 Less: Non-earning assets 16,956 16,554 15,326 14,973 14,883 Average total earning assets1 218,529
Slide 58: Non-GAAP – All Bank Loan to Deposit Ratio
Non-GAAP – All Bank Loan to Deposit Ratio $Bn (unless indicated otherwise) Q1/24 Q4/24 Q1/25 Avg Loans & Acceptances Loans 746 755 765 Acceptances 18 1 0 Total 764 756 766 Avg Deposits Deposits from customers 902 899 920 Deposits from banks 52 46 47 Total Deposits 954 945 967 Less: Group Treasury Wh
Slide 59: Non-GAAP - International Banking
Non-GAAP - International Banking $Bn Reported Basis Reported Basis (Constant FX) International Business Banking Loans Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Investment Grade 37 35 33 32 31 37 36 33 33 31 Non-Investment Grade 55 55 56 54 55 56 56 57 55 55 $Bn Reported Basis Const
Slide 60: Non-GAAP - Mexico
Non-GAAP - Mexico $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Pre-tax, pre-provision profit Q1/24 Q4/24 Q1/25 Q1/24 Q4/24 Q1/25 Revenue 826 725 751 752 733 751 Expenses 441 382 395 398 380 395 Provision for Credit Losses 82 109 128 73 108 128 NIAEH 222 178 162 205 18
Slide 61: Non-GAAP - Chile
Non-GAAP - Chile $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Pre-tax, pre-provision profit Q1/24 Q4/24 Q1/25 Q1/24 Q4/24 Q1/25 Revenue 655 588 608 621 578 608 Expenses 291 274 281 280 271 281 Provision for Credit Losses 174 151 192 166 149 192 NIAEH 146 123 109 134 1
Slide 62: Non-GAAP - Peru
Non-GAAP - Peru $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Pre-tax, pre-provision profit Q1/24 Q4/24 Q1/25 Q1/24 Q4/24 Q1/25 Revenue 466 456 500 490 475 500 Expenses 188 205 204 196 212 204 Provision for Credit Losses 128 118 112 135 123 112 NIAEH 117 104 148 124 10
Slide 63: Non-GAAP - Colombia
Non-GAAP - Colombia $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Pre-tax, pre-provision profit Q1/24 Q4/24 Q1/25 Q1/24 Q4/24 Q1/25 Revenue 282 288 278 271 288 278 Expenses 198 185 186 190 185 186 Provision for Credit Losses 138 114 107 132 113 107 NIAEH (24) (7) (6) (
Slide 64: Non-GAAP - Caribbean and Central America
Non-GAAP - Caribbean and Central America $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Pre-tax, pre-provision profit Q1/24 Q4/24 Q1/25 Q1/24 Q4/24 Q1/25 Revenue 622 634 677 648 660 677 Expenses 358 336 375 370 348 375 Provision for Credit Losses 38 44 48 38 46 48 NIAEH
Slide 65: Non-GAAP – International Banking Return on Equity
Non-GAAP – International Banking Return on Equity English Dominican Central Total International Reported ($MM unless otherwise specified) Mexico Peru Chile Colombia Caribbean Republic America Other Banking For the three months ending January 31, 2025 Net Income Attributable to Common Shareholders 16
Slide 66: Glossary: Other Financial Measures & Strategic Objectives
1 2 Glossary: Other Financial Measures & 3 Strategic Objectives 4 5 66
Slide 67: 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 68: 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 68
The Bank of Nova Scotia — Q1 2025 Earnings Presentation on 6ix