Quarterly Financial Performance
Back to Table of Contents
Highlights
Operating Performance
2023
2022
2021
Year-To-Date
Full Year
Q3
Q2
Q1
Q4
Q3
Q2
Q1
Q4
Q3
2023
2022
2022
2021
Reported ($ millions)
Net income
2,212
2,159
1,772
2,093
2,594
2,747
2,740
2,559
2,542
6,143
8,081
10,174
9,955
Net income attributable to common shareholders
2,086
2,029
1,631
1,949
2,504
2,595
2,608
2,411
2,426
5,746
7,707
9,656
9,391
EPS ($) - Basic
1.74
1.70
1.37
1.64
2.10
2.16
2.15
1.98
2.00
4.81
6.41
8.05
7.74
- Diluted
1.72
1.69
1.36
1.63
2.09
2.16
2.14
1.97
1.99
4.76
6.39
8.02
7.70
ROE (%)(¹)
12.1
12.3
9.9
11.9
15.3
16.2
15.8
14.8
15.0
11.5
15.8
14.8
14.7
Net interest margin (%) (2)
2.10
2.13
2.11
2.18
2.22
2.23
2.16
2.17
2.23
2.11
2.20
2.20
2.23
Productivity ratio (%) (¹)
56.4
57.7
55.9
59.4
53.7
52.4
52.5
55.6
52.8
56.7
52.8
54.4
53.2
Effective tax rate (%) (¹)
18.4
18.4
38.4
18.5
18.8
22.9
24.0
21.2
22.5
25.4
22.0
21.3
22.4
Adjusted ($ millions) (2)
Net income
2,227
2,174
2,366
2,615
2,611
2,765
2,758
2,716
2,560
6,767
8,134
10,749
10,169
Net income attributable to common shareholders (Diluted)
2,103
2,033
2,239
2,474
2,527
2,613
2,650
2,565
2,453
6,400
7,852
10,267
9,643
EPS ($)
Diluted
1.73
1.70
1.85
2.06
2.10
2.18
2.15
2.10
2.01
5.28
6.43
8.50
7.87
ROE (%)(3)
12.2
12.4
13.4
15.0
15.4
16.4
15.9
15.7
15.1
12.7
15.9
15.7
15.0
Productivity ratio (%)
56.1
57.5
55.7
53.7
53.4
52.1
52.2
52.8
52.5
56.4
52.5
52.8
52.2
Effective tax rate (%)
Balance Sheet ($ billions)
Total assets
Net loans and acceptances
Deposits
Common shareholders' equity
Credit Quality
Gross impaired loans
- % of loans and acceptances(1)
Net impaired loans ($ millions)
- % of loans and acceptances(1)
Allowance for credit losses ($ millions)(4)
18.4
18.4
18.4
17.6
18.9
22.9
24.0
21.5
22.5
18.4
22.1
21.0
22.5
1,396.1
1,373.2
1,374.4
1.349.4
1,292.1
1,288.5
1,245.5
1,184.8
1,163.4
772.6
786.0
777.0
764.5
733.2
708.7
688.2
657.4
644.8
957.2
945.5
949.9
916.2
879.6
876.6
851.0
797.3
794.4
68.0
69.1
66.1
65.2
65.0
64.8
66.2
64.8
64.7
5,487
5,305
5,104
4,786
4,252
4,264
4,435
4,456
4,735
0.70
0.67
0.65
0.62
0.58
0.60
0.64
0.67
0.73
3,667
3,554
3,450
3,151
2,695
2,660
2,812
2,801
2,976
0.47
0.45
0.44
0.41
0.36
0.37
0.41
0.42
0.46
6,094
5,931
5,668
5,499
5,295
5,375
5,583
5,731
6,232
Net write-offs as a % of average net loans and acceptances(¹)
0.34
0.29
0.29
0.24
0.21
0.25
0.27
0.34
0.62
0.31
0.24
0.24
0.54
Provision for credit losses (PCL) ($ millions) (5)
819
709
638
529
412
219
222
168
380
2,166
853
1,382
1,808
PCL on loans and acceptances ($ millions)(6)
820
708
636
529
404
218
222
170
379
2,164
844
1,373
1,809
PCL as % of average net loans and acceptances (1)(6)
0.42
0.37
0.33
0.28
0.22
0.13
0.13
0.10
0.24
0.37
0.16
0.19
0.29
PCL on impaired loans as % of average net loans and acceptances(1)(6)
0.38
0.33
0.29
0.26
0.21
0.24
0.24
0.31
0.53
0.33
0.23
0.24
0.53
Capital and Liquidity Measures
CET1 capital ratio (%) (7)
12.7
12.3
11.5
11.5
11.4
11.6
12.0
12.3
12.2
Tier 1 capital ratio (%) (7)
14.6
14.1
13.2
13.2
13.0
12.8
13.4
13.9
13.7
Total capital ratio (%) (7)
16.9
16.2
15.2
15.3
15.0
15.0
15.1
15.9
15.7
Leverage ratio (%) (8)
4.1
4.2
4.2
4.2
4.2
4.2
4.4
4.8
4.8
CET1 risk-weighted assets ($ millions) (7)
439,814
451,063
471,528
462,448
452,800
445,273
433,682
416,105
414,169
Net stable funding ratio (NSFR) (%) (9)
114
111
109
111
109
109
108
110
112
Liquidity coverage ratio (%) (10)
133
131
122
119
122
125
123
124
123
Total Loss Absorbing Capacity (TLAC) (as a % of leverage exposure) (11)
8.7
8.4
8.9
8.8
9.3
9.8
9.4
9.6
8.8
TLAC (as a % of risk-weighted assets adjusted as permitted under the TLAC regime) (11)
30.5
28.3
27.9
27.4
28.4
30.1
28.3
27.8
25.3
(1) Refer to page 53 of the Q3 2023 Quarterly Report to Shareholders, available on http://www.sedarplus.ca, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto.
(2) Refer to Non-GAAP measures on page 4 of the Q3 2023 Quarterly Report to Shareholders, available on http://www.sedarplus.ca.
(4) Includes allowance for credit losses on all financial assets-loans, acceptances, off-balance sheet exposures and other financial assets.
(3) Prior period amount has been restated to align with current period calculation.
(5) Includes provision for credit losses on all financial assets - loans, acceptances, off-balance sheet exposures and other financial assets.
(6) Includes provision for credit losses on certain financial assets - loans, acceptances and off-balance sheet exposures.
(7) Q3 2023 and Q2 2023 regulatory capital ratios are based on Revised Basel III requirements as determined in accordance with OSFI Guideline - Capital Adequacy Requirements (February 2023). Prior period regulatory capital ratios were prepared in accordance with OSFI Guideline - Capital Adequacy Requirements (November 2018).
(8) Q3 2023 and Q2 2023 leverage ratios are based on Revised Basel Ill requirements as determined in accordance with OSFI Guideline - Leverage Requirements (February 2023). Prior period leverage ratios were prepared in accordance with OSFI Guideline - Leverage Requirements (November 2018).
(9) This measure has been disclosed in this document in accordance with OSFI Guideline - Public Disclosure Requirements for Domestic Systemically Important Banks on Net Stable Funding Ratio Disclosure Requirements (January 2021).
(10) This measure has been disclosed in this document in accordance with OSFI Guideline - Public Disclosure Requirements for Domestic Systemically Important Banks on Liquidity Coverage Ratio (April 2015)
(11) This measure has been disclosed in this document in accordance with OSFI Guideline - Total Loss Absorbing Capacity (September 2018).
Scotiabank
Supplementary Financial Information (SFI).
1View entire presentation