Scotiabank First Quarter Press Release 2023 slide image

Scotiabank First Quarter Press Release 2023

Reconciliation of International Banking's reported, adjusted and constant dollar results International Banking business segment results are analyzed on a constant dollar basis which is a non-GAAP measure. Under the constant dollar basis, prior period amounts are recalculated using current period average foreign currency rates. The following table presents the reconciliation between reported, adjusted and constant dollar results for International Banking for prior periods. The Bank believes that constant dollar is useful for readers to understand business performance without the impact of foreign currency translation and is used by management to assess the performance of the business segment. Reported Results ($ millions) (Taxable equivalent basis) Net interest income Non-interest income Total revenue Provision for credit losses Non-interest expenses Income before taxes Income tax expense Net income Net income attributable to non-controlling interest in subsidiaries Net income attributable to equity holders of the Bank Other measures Average assets ($ billions) Average liabilities ($ billions) For the three months ended Reported $ October 31, 2022 Foreign results exchange 1,806 $ (60) $ Constant Reported dollar January 31, 2022 Foreign results exchange Constant dollar 1,866 $ 1,648 $ (108) $ 1,756 698 2 696 749 14 735 2,504 (58) 2,562 2,397 (94) 2,491 355 (11) 366 274 (17) 291 1,364 (34) 1,398 1,285 (65) 1,350 785 (13) 798 838 (12) 850 106 106 208 208 SALASA $ 679 $ (13) $ 692 $ 630 $ (12) $ 642 $ 36 $ (1) $ 37 $ $ 643 $ (12) $ 655 LA LA 85 $ (2) $ 87 $ 545 $ (10) $ 555 $ LA LA 217 $ (8) $ 225 $ 196 $ (12) $ 208 $ 160 $ (6) $ 166 $ 144 $ (8) $ 152 Adjusted Results ($ millions) For the three months ended October 31, 2022 January 31, 2022 Adjusted (Taxable equivalent basis) results Foreign exchange Constant dollar Constant adjusted Net interest income $ 1,806 $ (60) $ 1,866 $ Adjusted results 1,648 $ Foreign exchange dollar adjusted (108) $ 1,756 Non-interest income Total revenue Provision for credit losses Non-interest expenses 698 2 696 749 14 735 2,504 (58) 2,562 2,397 (94) 2,491 355 (11) 366 274 (17) 291 1,355 (33) 1,388 1,275 (65) 1,340 Income before taxes 794 (14) 808 848 (12) 860 Income tax expense 108 (1) 109 211 1 210 Net income $ 686 $ (13) $ 699 $ 637 $ (13) $ 650 Net income attributable to non-controlling interest in subsidiaries $ Net income attributable to equity holders of the Bank 36 $ (1)$ 37 $ 650 $ (12) $ 662 LA LA $ 85 $ (3) $ 88 $ 552 $ (10) $ 562 Return on equity Return on equity is a profitability measure that presents the net income attributable to common shareholders (annualized) as a percentage of average common shareholders' equity. The Bank attributes capital to its business lines on a basis that approximates 10.5% of Basel III common equity capital requirements which includes credit, market and operational risks and leverage inherent within each business segment. Return on equity for the business segments is calculated as a ratio of net income attributable to common shareholders (annualized) of the business segment and the capital attributed. Adjusted return on equity is a non-GAAP ratio which represents adjusted net income attributable to common shareholders (annualized) as a percentage of average common shareholders' equity. 10 Scotiabank First Quarter Press Release 2023
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