International Banking - Annual Overview
CANADIAN BANKING - ANNUAL
Strong performance from retail and small business banking, commercial banking
and wealth management
FINANCIAL PERFORMANCE AND METRICS¹ ($MM)
ANNUAL HIGHLIGHTS
2017
Revenue $12,851
Expenses
2016 Change
$12,188
+5%
•
Net income up 9%
$6,487
$6,324
+3%
PCLS
$913
$832
+10%
Net Income
$4,064
$3,736
+9%
Productivity Ratio
50.5%
51.9%
-140bps
Net Interest Margin
2.40%
2.38%
+2bps
PCL Ratio
0.29%
0.28%
+1bps
NET INCOME¹ ($MM) AND NIM (%)
2.23%
2.38%
2.40%
4,064
3,736
3,344
FY15
1 Attributable to equity holders of the Bank
FY16
FY17
•
。 Strong retail and small business banking,
commercial banking and wealth management
。 Gain on sale of HollisWealth was lower than last
year's gain on sale of a non-core lease financing
business
o Higher gains on sale of real estate offset by lower
gain on sale of businesses
Net interest margin up 2 bps
。 Retail margin expansion from recent rate increases
Benefited from the run-off of lower spread Tangerine
mortgages
Expenses up 3%
o Higher investments in digital and technology
。 Partially offset by savings realized from cost
reduction initiatives and lower expenses from the
sale of HollisWealth
Operating leverage of +2.9% for the year
Scotiabank® |
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