BNS
The Bank of Nova ScotiaNYSE
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  • Tue, Nov. 29, 12:13 PM
    • FQ4 profit of $2B or $1.58 per share came was up 8% from a year ago and came against estimates for just $1.51. The dividend was maintained at $0.74.
    • Ex-restructuring charges, full-year profit rose 6% Y/Y, and ROE for the year was 14.3%.
    • Speaking on the earnings call, CEO Brian Porter expects similar adjusted profit growth next year, along with ROE in the 14% area as the restructuring starts to pay off.
    • Of Canada's bubbly housing market, CFO Sean McGuckin is "very comfortable with our residential mortgage book." He says changes emanating from Ottawa will slow mortgage loan growth, but he expects to maintain, if not build market share.
    • TD Bank upgrades Scotiabank (BNS +2.1%) to Action List Buy.
    | Tue, Nov. 29, 12:13 PM | 2 Comments
  • Tue, Nov. 29, 6:12 AM
    • Bank of Nova Scotia (NYSE:BNS) declares C$0.74/share quarterly dividend, in line with previous.
    • Forward yield 4.08%
    • Payable Jan. 27; for shareholders of record Jan. 3; ex-div Dec. 29.
    | Tue, Nov. 29, 6:12 AM | 6 Comments
  • Tue, Nov. 29, 6:04 AM
    • Bank of Nova Scotia (NYSE:BNS): FQ4 EPS of C$1.57 beats by C$0.06.
    • Revenue of C$6.75B (+10.3% Y/Y) beats by C$1.83B.
    • Press Release
    | Tue, Nov. 29, 6:04 AM | 7 Comments
  • Mon, Nov. 28, 5:30 PM
  • Tue, Oct. 11, 11:39 AM
    • A risk sharing proposal would likely have lenders paying some sort of a deductible when a mortgage goes bad - similar to what car drivers do in a car crash.
    • The banks say mortgage defaults are so rare - 5 times lower than the U.S. by one measure -  that making lenders share the risk is unnecessary and not worth the costs. “If it’s supposed to be something to improve the quality of underwriting," says the Canadian Bankers Association's Darren Hannah, "Well the quality of underwriting is already very strong.”
    • The group - which includes  TD, BMO, CM, RY, and BNS - holds its regular meetings with the country's finance department this week, and plans to let its feelings be known.
    • Also of interest to Genworth (NYSE:GNW), whose Canadian mortgage insurance unit is the country's second-largest.
    | Tue, Oct. 11, 11:39 AM | 24 Comments
  • Thu, Sep. 29, 3:50 AM
    • Despite the U.S. territory's debt moratorium, Scotiabank (NYSE:BNS) has filed a lawsuit against Puerto Rico seeking repayment of a multimillion-dollar loan, marking the first time the island's been sued over something other than bond payments
    • A federal judge is expected to decide soon whether Puerto Rico will have to pay its debts regardless of U.S. legislation enacted in June that protects it from lawsuits through February 2017.
    | Thu, Sep. 29, 3:50 AM | 2 Comments
  • Tue, Aug. 30, 6:12 AM
    | Tue, Aug. 30, 6:12 AM | 7 Comments
  • Tue, Aug. 30, 6:12 AM
    • Bank of Nova Scotia (NYSE:BNS) declares C$0.74/share quarterly dividend, 2.8% increase from prior dividend of C$0.72.
    • Forward yield 4.3%
    • Payable Oct. 27; for shareholders of record Oct. 4; ex-div Sept. 30.
    | Tue, Aug. 30, 6:12 AM | 3 Comments
  • Mon, Aug. 29, 5:30 PM
  • Mon, Aug. 8, 9:01 AM
    • Bank of Nova Scotia (NYSE:BNS) has applied to Taiwan's financial regulator to exit the local market as part of a strategy shift in the Asia Pacific region, Reuters reports.
    • "They are planning to leave Taiwan in Q4. We have not approved (its departure) yet as there are still some administrative procedures to go through," said an official of the Financial Supervisory Commission. "On principle, we will respect their wishes."
    | Mon, Aug. 8, 9:01 AM
  • Tue, May 31, 7:38 AM
    • FQ2 adjusted net income ($278M restructuring charge backed out) of $1.862B up 4% Y/Y. EPS of $1.46 up 3%. ROE of 14.4% vs. 15.1%.
    • Provisions of $72M rise from $539M the previous quarter and $448M a year ago. Elevated loan losses in energy are expected to decline next quarter, says CEO Brian Porter.
    • In addition the the inline with last quarter dividend, the bank announces plans to repurchase up to 12M shares, or about 1% of the float.
    • Previously: Bank of Nova Scotia beats by C$0.03, beats on revenue (May 31)
    • BNS flat premarket
    | Tue, May 31, 7:38 AM | 1 Comment
  • Tue, May 31, 6:37 AM
    • Bank of Nova Scotia (NYSE:BNS) declares C$0.72/share quarterly dividend, in line with previous.
    • Forward yield 4.42%
    • Payable July 27; for shareholders of record July 5; ex-div June 30.
    | Tue, May 31, 6:37 AM
  • Tue, May 31, 6:15 AM
    • Bank of Nova Scotia (NYSE:BNS): FQ2 EPS of C$1.46 beats by C$0.03.
    • Revenue of C$6.59B (+10.9% Y/Y) beats by C$150M.
    | Tue, May 31, 6:15 AM | 1 Comment
  • Mon, May 30, 5:30 PM
    | Mon, May 30, 5:30 PM | 1 Comment
  • Mon, May 2, 11:04 AM
    • Part of an effort to improve productivity and drive "digital transformation" - otherwise known as job cuts - Bank of Nova Scotia (BNS -0.8%) will take a C$275M, or $0.22 per share restructuring charge in FQ2 (results due May 31).
    • CIBC analyst Robert Sedran warns of more to come: "Given the underlying trends and the need to deal with legacy systems and processes that will preoccupy bank management for the next several years, this type of charge has a run-rate feel to it."
    | Mon, May 2, 11:04 AM | 16 Comments
  • Tue, Mar. 1, 5:45 PM
    | Tue, Mar. 1, 5:45 PM | 1 Comment