The earnings call reflected a year of transition with significant progress in the Global Wealth business and a strong capital position, but faced challenges such as impairment charges, international banking headwinds, and increased credit losses in the Canadian retail portfolio. The bank remains optimistic about its growth strategy and expects positive momentum moving forward.

Company Guidance

During the Scotiabank Q4 2024 earnings call, management provided guidance emphasizing a commitment to sustainable growth and shareholder value. Key metrics highlighted included a slight increase in overall earnings for 2024, a 7% year-over-year increase in personal and commercial deposits, and a Tier 1 capital ratio of 13.1%. The bank's Global Wealth business reported net income growth to $426 million for the quarter and $1.6 billion for the year, with an ROE expansion to 15.7%. In Canadian Banking, 30% of clients now meet the bank's primacy definition, a 1.5 percentage point increase from the previous year, and the bank grew its total primary client base by 280,000. Scotiabank aims for earnings growth of 5% to 7% in 2025, with a focus on primary client growth, capital allocation, and productivity improvements, while also preparing for macroeconomic challenges and strategic initiatives like the investment in KeyCorp.

Record Net Income in Global Wealth Business

The Global Wealth business delivered record net income in 2024, with Canadian Wealth Management showing double-digit earnings growth and assets under management growing 18% this year.

Strong Capital Position

The bank has a solid Tier 1 capital ratio of 13.1% and has grown its allowance for credit losses by approximately 22% since the end of fiscal 2022.

Positive Operating Leverage and Revenue Growth

Revenue was up 6% year-over-year, while expenses grew 4%, resulting in positive operating leverage of 2.3% for the year.

International Banking Margin Expansion

International Banking saw margin expansion throughout the year to 442 basis points and an improvement in risk-adjusted margins to over 325 basis points.

Improved Risk Management

Provision for credit losses was managed effectively, with expectations of a mid-50s basis point range for the PCL ratio in 2025.

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Bank Of Nova Scotia (BNS) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

BNS Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 04, 2025	2025 (Q1)	1.16 / -	1.176	―	―	―
Dec 03, 2024	2024 (Q4)	1.11 / 1.09	0.877	24.60% (+0.22)
Aug 27, 2024	2024 (Q3)	1.13 / 1.13	1.204	-5.78% (-0.07)
May 28, 2024	2024 (Q2)	1.09 / 1.10	1.183	-7.06% (-0.08)
Feb 27, 2024	2024 (Q1)	1.12 / 1.18	1.287	-8.65% (-0.11)
Nov 28, 2023	2023 (Q4)	1.15 / 0.88	1.434	-38.83% (-0.56)
Aug 29, 2023	2023 (Q3)	1.21 / 1.20	1.461	-17.62% (-0.26)
May 24, 2023	2023 (Q2)	1.23 / 1.18	1.517	-22.02% (-0.33)
Feb 28, 2023	2023 (Q1)	1.41 / 1.29	1.496	-13.95% (-0.21)
Nov 29, 2022	2022 (Q4)	1.39 / 1.43	1.461	-1.90% (-0.03)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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BNS Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Dec 03, 2024	$56.77	$54.78	-3.51%
Aug 27, 2024	$47.89	$49.24	+2.82%
May 28, 2024	$46.29	$46.19	-0.22%
Feb 27, 2024	$45.13	$46.46	+2.95%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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