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Bank of Nova Scotia BNS Stock Quote

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Morningstar‘s Stock Analysis BNS

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No Change to Our Fair Value Estimate for Scotiabank After Fiscal Second-Quarter Earnings

Business Strategy and Outlook

| Eric Compton, CFA |

Bank of Nova Scotia is the third-largest Canadian-based bank by assets and one of six Canadian banks that collectively hold almost 90% of the nation's banking deposits. It is known as Canada’s most international bank as it derives a little over half of its revenue from Canada, over 40% from international operations (primarily Latin America, namely Mexico, Peru, and Chile), and a single-digit percentage from the United States. Its domestic operations are more concentrated in mortgages and auto lending, with leading market share in autos. The bank has been expanding its domestic wealth operations significantly with its acquisitions of MD Financial and Jarislowsky Fraser, making it the third-largest active manager in Canada. The bank has been reworking its Latin America footprint, making acquisitions in markets it likes (Chile, Colombia) while reducing exposure to businesses and geographies that are less favorable as it attempts to consolidate better share within the area. The international exposure gives the bank the potential for higher growth and return opportunities compared with peers, but it also exposes the bank to more risks, as we've seen during the pandemic. While theoretically beneficial, the bank's international exposure has tended to be more of a headwind than tailwind.

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Key Statistics BNS

Company Profile BNS

Business Description

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. The bank's international operations span numerous countries and are more concentrated in Central and South America.

Contact
1709 Hollis Street, Bank of Nova Scotia Building
Halifax, NS, B3J 3B7, Canada
T +1 416 866-3672
Industry Banks - Diversified
Most Recent Earnings Apr 30, 2022
Fiscal Year End Oct 31, 2022
Stock Type
Employees 89,782

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