The Bank of Nova Scotia (0UKI) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

This conference is being recorded. Cette conférence est enregistrée. Good morning and welcome to Scotiabank's Q3 results presentation. My name is Manny Gromit and I'm head of IR here at Scotiabank. Presenting to you this morning are Scott Thompson, Scotiabank's President and Chief Executive Officer, Raj Viswanathan, our Chief Financial Officer, and Phil Thomas, our Chief Risk Officer. Following our comments, we'll be glad to take your questions. Also present to take questions are the following Scotiabank experts. Eric Bontanaris from Canadian Banking, Jackie Allard from Global Wealth Management, Francisco Arceguieta from International Banking, and Travis Manchin from Global Banking and Markets. Before we start, and on behalf of those speaking today, I'll 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. Good morning, everyone. Our strong Q3 results highlight the steady progress we are making towards our Investor Day commitments. We continue to focus on what we can control as we drive profitable to sustainable growth. And we are doing this through the disciplined execution of our strategy, which includes building deeper client relationships, driving efficiency gains while making the necessary investments to the future, and maintaining strong balance sheet metrics to deal with unexpected challenges. For Q3, we delivered adjusted earnings of $2.5 billion, or $1.88 per share. This is up 15% year-over-year, while pre-tax, pre-provision earnings were up 17% year-over-year. We also delivered a return on equity of 12.4%, up 110 basis points compared to the same quarter last year. After taking a conservative stance on credit last quarter that featured an 18 b...