10:29:51 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,208,043,722
Close 2016-11-29 C$ 73.70
Market Cap C$ 89,032,822,311
Recent Sedar Documents

Post says Scotiabank mulls share buybacks, acquisitions

2016-11-30 09:17 ET - In the News

The Financial Post reports in its Wednesday edition that Bank of Nova Scotia posted earnings that beat analyst expectations and built up capital in the fourth quarter, leaving the door open to possible acquisitions or share buybacks even as the bank's domestic credit card portfolio showed strain. The Post's Barbara Shecter quotes Brian Porter, Scotia's chief executive officer, telling analysts on a conference call, "Buybacks are always in the tool kit." Mr. Porter added that the bank's closely watched CET-1 capital ratio of 11 per cent provides flexibility if a strategic acquisition target were to become available, particularly in the Pacific Alliance countries of Mexico, Peru, Chile, and Columbia where Scotia is focusing its international growth. Annual earnings from Scotia's international division topped $2-billion for the first time Executives said they believe the market is overreacting to concerns about Mexico following Donald Trump's victory in the presidential election in the United States. "I think the market is discounting a bigger impact in Mexico than what we think is realistic. We remain confident," Sean McGuckin, Scotia's chief financial officer, said Tuesday following the analyst call.

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