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 2023View entire presentation