The Bank of Nova Scotia (0UKI) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Scotiabank's Q4 results presentation. My name is Manny Grauman and I'm Head of Investor Relations. 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 executives. Eris Bogdaneris from Canadian Banking, Jackie Allard from Global Wealth Management, Francisco Aristeguieta from International Banking and Travis Manchin 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. All the remarks today will be on an adjusted basis. With that, I will now turn the call over to Scott. Thank you, Manny, and good morning, everyone. Our Q4 results tap off a year of strong and consistent We've entered into fiscal 2026 from a position of strength. 2025 was a year of execution. We did what we said we were going to do, despite the emergence of unexpected trade-related economic challenges. We accomplished this by focusing on what we can control and delivering our strategic plan. Overall, EPS grew by 10% for the full year. We also ended Q4 with an ROE of 12.5%, up 190 basis points year over year, and an efficiency ratio of 54.3%, an improvement of 180 basis points versus the prior period. These results demonstrate clear and measurable progress against our medium term financial targets. Recapping our strategic objectives, our focus on client primacy is yielding results as we drive strong cooperation across the bank. Closed referrals between Canadian reta...