The Bank of Nova Scotia (0UKI) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. Welcome to Scotiabank's 2025 Q2 results call. My name is Manny Gramin. I am head of investor relations here at Scotiabank. Presenting to you this morning are Scott Thompson, Scotiabank's president and chief executive officer, Raj Viswagathan, our chief financial officer, and Phil Thomas, our chief risk officer. Following their comments, we'll be glad to take your questions. Also present to take questions are the following Scotiabank executives, Aris Bogdanaris from Canadian Banking, Jackie Allard from Global Wealth Management, Francisco Aristegueta from International Banking, and Travis Machen from Global Banking and Markets. Before we start, and on behalf of those speaking today, I will refer you to slide two of our presentation, which contains Scotiabank's caution regarding forward-looking statements. With that, I will now turn the call over to Scott. Thank you, Manny, and good morning, everyone. In what remains a period of global economic uncertainty, we continue to execute on our strategy, focusing on areas we can control, including strengthening our balance sheet, investing in our business while delivering positive operating leverage, and capitalizing on revenue opportunities as they emerge. We delivered adjusted earnings in the quarter of $2.1 billion, or $1.52 per share. This included a significant performing build in Canada, reflecting a conservative estimate of the potential impact of the evolving macroeconomic backdrop driven by tariffs. This quarter, we continued to invest in our Canadian banking franchise as we execute on our strategy to grow our primary client base and deepen client relationships. We demonstrated strong expense discipline in international banking, grew our wealth earnings, and delivered strong results in our global banking ...