Quarterly Financial Performance
Back to Table of Contents
Business Segment Performance: International Banking (Constant Dollar) (1)
2023
2022
2021
Year-To-Date
Full Year
Q3
Q2
22
Q1
Q4
Q3
Q2
Q1
Q4
Q3
2023
2022
2022
2021
Income Statement- Taxable Equivalent Basis (TEB)-($ millions)
Net interest income (TEB)
2,118
2,029
1,999
1,970
1,953
1,854
1,859
1,775
1,760
6,024
5,530
7,455
7,013
Non-interest income (TEB)
Net fee and commission revenues
Net income (loss) from investments in associated corporations
Other operating income (TEB)
Total revenue (TEB)
Provision for credit losses
Non-interest expenses
Income before taxes
Income tax expense (TEB)
Reported net income
Adjusting items (after tax) (2)
Adjusted net income (2)
Reported net income attributable to non-controlling interests (NCI)
728
789
877
745
687
768
783
747
801
2,275
2,141
2,900
2,946
620
594
672
604
592
595
608
566
542
1,836
1,750
2,339
2,146
62
67
62
52
55
78
68
54
55
194
204
257
214
46
128
143
89
40
95
107
127
204
245
187
304
586
2,846
2,818
2,876
2,715
2,640
2,622
2,642
2,522
2,561
8,299
7,671
10,355
9,959
516
446
431
390
356
299
310
356
384
1,356
938
1,317
1,661
1,491
1,504
1,512
1,475
1,417
1,375
1,423
1,382
1,421
4,406
4,116
5,555
5,500
839
868
933
850
867
948
909
784
756
2,537
2,617
3,483
2,798
192
180
176
110
126
195
217
137
161
533
522
641
620
647
688
757
740
741
753
692
647
595
2,004
2,095
2,842
2,178
7
7
7
8
7
8
8
8
8
22
23
31
32
654
695
764
748
748
761
700
655
603
2,026
2,118
2,873
2,210
19
21
39
37
56
81
92
83
81
80
224
261
327
Reported net income attributable to equity holders of the Bank (NIAEH)
Adjusted net income attributable to non-controlling interests (NCI)<²)
Adjusted net income attributable to equity holders of the Bank (NIAEH)(²)
Profitability Measurements(3)
628
667
718
703
685
672
600
564
514
1,924
1,871
2,581
1,851
19
20
38
38
55
81
93
83
81
80
224
261
326
635
675
726
710
693
680
607
572
522
1,946
1,894
2,612
1,884
Net interest margin (2)
4.10
4.12
4.00
4.08
3.95
3.96
3.87
3.78
3.81
4.08
3.92
3.96
3.95
Net write-offs as a % of average net loans and acceptances (4)
Reported
0.98
0.83
0.88
0.76
0.74
0.76
0.88
1.25
2.37
0.90
0.79
0.79
1.89
Return on equity (%)(2)
13.4
13.2
13.4
13.1
13.0
13.2
12.2
12.0
11.1
13.4
12.8
12.9
10.4
Provision for credit losses (PCL) as % of average net loans and acceptances (4)(5)
PCL on impaired loans as % of average net loans and acceptances(4)(5)
Productivity ratio (%) (4)
1.18
1.03
0.96
0.89
0.84
0.77
0.77
0.91
1.00
1.05
0.80
0.82
1.15
1.11
0.94
0.89
0.81
0.68
0.77
0.81
1.18
2.08
0.98
0.75
0.77
1.88
52.4
53.7
53.2
54.5
53.5
52.7
53.6
54.3
55.0
53.1
53.3
53.6
54.6
Adjusted (2)
Return on equity (%)
13.6
13.4
13.6
13.2
13.1
13.3
12.4
12.2
11.3
13.5
13.0
13.0
10.6
Productivity ratio (%)
52.0
53.3
52.8
54.1
53.2
52.2
53.2
53.9
54.6
52.7
52.9
53.2
54.2
Average Balance Sheet ($ billions)
Residential mortgages
52.7
51.8
51.0
49.6
47.9
46.3
44.6
42.6
41.3
50.6
45.1
45.9
40.1
Personal loans
20.4
20.7
20.6
20.5
20.3
19.7
19.8
19.7
19.8
20.1
19.4
19.6
19.3
Credit cards
8.8
8.8
8.7
8.3
8.1
7.7
7.2
6.9
6.8
8.6
7.5
7.6
7.3
Business and government loans & acceptances
96.2
96.8
97.7
94.9
93.5
89.5
86.7
85.1
82.0
96.0
89.0
90.3
81.3
Total loans & acceptances
178.1
178.1
178.0
173.3
169.8
163.2
158.3
154.3
149.9
175.3
161.0
163.4
148.0
Investment securities
20.9
20.4
18.9
18.7
18.2
17.4
17.1
17.3
18.0
19.8
17.3
17.6
17.3
Deposits with banks
16.7
15.9
16.2
15.6
16.5
17.4
18.3
16.2
17.6
16.2
17.3
16.8
17.1
Other assets
Total assets
Personal deposits
Non-personal deposits
Total deposits
Other liabilities
Total liabilities
Other Information
25.7
25.2
24.6
26.1
24.7
22.7
22.5
22.2
22.1
24.8
22.9
27.2
24.7
241.4
239.6
237.7
233.7
229.2
220.7
216.2
210.0
207.6
236.1
218.5
225.0
207.1
42.2
41.4
41.4
40.8
40.5
40.1
39.8
40.3
39.7
40.9
39.3
39.5
38.7
86.6
86.0
83.2
80.6
78.9
76.0
72.6
72.2
73.7
83.6
74.4
75.5
70.7
128.8
127.4
124.6
121.4
119.4
116.1
112.4
112.5
113.4
124.5
113.7
115.0
109.4
55.5
54.7
53.2
54.0
53.0
46.3
48.0
47.7
46.2
53.3
47.8
49.1
46.1
184.3
182.1
177.8
175.4
172.4
162.4
160.4
160.2
159.6
177.8
161.5
164.1
155.5
Employees (6)
41,289
41,274
Branches
1,161
1,161
ABMs
Amortization of intangibles (pre-tax)
4,845
10
4,845
11
41,481
1,175
4,843
11
41,660
42,143
1,203
1,205
4,885
11
4,885
10
42,574
1,214
4,759
11
42,580
1,227
4,759
11
43,372
1,318
4,844
11
45,426
1,352
5,057
11
31
32
42
45
(1) Data presented on a constant FX basis. Quarterly results reflect FX rates as of Q3/23, while full-year results reflect Current Year Average FX rates. Refer to non-GAAP measures on page 8 of the Q3 2023 Quarterly Report to Shareholders, available on http://www.sedarplus.ca.
(2) Refer to Non-GAAP measures on page 4 of the Q3 2023 Quarterly Report to Shareholders, available on http://www.sedarplus.ca.
(3) Ratios are on a reported basis.
(4) 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.
(5) Provision for credit losses on certain financial assets - loans, acceptances and off-balance sheet exposures.
(6) Employees are reported on a full-time equivalent basis.
Scotiabank
Supplementary Financial Information (SFI)
6View entire presentation