Scotiabank Economic and Financial Market Update
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
From time to time, our public communications often include oral or written forward-
looking statements. Statements of this type are included in this document, and
may be included in other filings with Canadian securities regulators or the U.S.
Securities and Exchange Commission, or in other communications. In addition,
representatives of the Bank may include forward-looking statements orally to
analysts, investors, the media and others. All such statements are made pursuant
to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act
of 1995 and any applicable Canadian securities legislation. Forward-looking
statements may include, but are not limited to, statements made in this document,
the Management's Discussion and Analysis in the Bank's 2018 Annual Report
under the headings "Outlook" and in other statements regarding the Bank's
objectives, strategies to achieve those objectives, the regulatory environment in
which the Bank operates, anticipated financial results, and the outlook for the
Bank's businesses and for the Canadian, U.S. and global economies. Such
statements are typically identified by words or phrases such as "believe," "expect,"
"foresee," "forecast," "anticipate," "intend," "estimate," "plan," "goal," "project," and
similar expressions of future or conditional verbs, such as "will," "may," "should,"
"would" and "could."
By their very nature, forward-looking statements require us to make assumptions
and are subject to inherent risks and uncertainties, which give rise to the
possibility that our predictions, forecasts, projections, expectations or conclusions
will not prove to be accurate, that our assumptions may not be correct and that
our financial performance objectives, vision and strategic goals will not be
achieved.
We caution readers not to place undue reliance on these statements as a number
of risk factors, many of which are beyond our control and effects of which can be
difficult to predict, could cause our actual results to differ materially from the
expectations, targets, estimates or intentions expressed in such forward-looking
statements.
The future outcomes that relate to forward-looking statements may be influenced
by many factors, including but not limited to: general economic and market
conditions in the countries in which we operate; changes in currency and interest
rates; increased funding costs and market volatility due to market illiquidity and
competition for funding; the failure of third parties to comply with their obligations
to the Bank and its affiliates; changes in monetary, fiscal, or economic policy and
tax legislation and interpretation; changes in laws and regulations or in
supervisory expectations or requirements, including capital, interest rate and
liquidity requirements and guidance, and the effect of such changes on funding
costs; changes to our credit ratings; operational and infrastructure risks;
reputational risks; the accuracy and completeness of information the Bank
receives on customers and counterparties; the timely development and
introduction of new products and services; our ability to execute our strategic
plans, including the successful completion of acquisitions and dispositions,
including obtaining regulatory approvals; critical accounting estimates and the
effect of changes to accounting standards, rules and interpretations on these
estimates; global capital markets activity; the Bank's ability to attract, develop and
retain key executives; the evolution of various types of fraud or other criminal
behaviour to which the Bank is exposed; disruptions in or attacks (including cyber-
attacks) on the Bank's information technology, internet, network access, or other
voice or data communications systems or services; increased competition in the
geographic and in business areas in which we operate, including through internet
and mobile banking and non-traditional competitors; exposure related to
significant litigation and regulatory matters; the occurrence of natural and
unnatural catastrophic events and claims resulting from such events; and the
Bank's anticipation of and success in managing the risks implied by the foregoing.
A substantial amount of the Bank's business involves making loans or otherwise
committing resources to specific companies, industries or countries. Unforeseen
events affecting such borrowers, industries or countries could have a material
adverse effect on the Bank's financial results, businesses, financial condition or
liquidity. These and other factors may cause the Bank's actual performance to
differ materially from that contemplated by forward-looking statements. The Bank
cautions that the preceding list is not exhaustive of all possible risk factors and
other factors could also adversely affect the Bank's results, for more information,
please see the "Risk Management" section of the Bank's 2018 Annual Report, as
may be updated by quarterly reports.
Material economic assumptions underlying the forward-looking statements
contained in this document are set out in the 2018 Annual Report under the
headings "Outlook", as updated by quarterly reports. The "Outlook" sections are
based on the Bank's views and the actual outcome is uncertain. Readers should
consider the above-noted factors when reviewing these sections. When relying on
forward-looking statements to make decisions with respect to the Bank and its
securities, investors and others should carefully consider the preceding factors,
other uncertainties and potential events. Any forward-looking statements
contained in this document represent the views of management only as of the
date hereof and are presented for the purpose of assisting the Bank's
shareholders and analysts in understanding the Bank's financial position,
objectives and priorities, and anticipated financial performance as at and for the
periods ended on the dates presented, and may not be appropriate for other
purposes. Except as required by law, the Bank does not undertake to update any
forward-looking statements, whether written or oral, that may be made from time
to time by or on its behalf.
Additional information relating to the Bank, including the Bank's Annual
Information Form, can be located on the SEDAR website at www.sedar.com and
on the EDGAR section of the SEC's website at www.sec.gov.
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