Scotiabank Reports Strong Q3 Earnings, Up 2% Sequentially

Earnings Per Share Increase 4% Year-over-Year

Toronto, August 29, 2023 - Scotiabank today announced its third quarter financial results, reporting adjusted earnings of $2.2 billion or $1.73 per share, an increase of 2% sequentially.

Pretax Pre-Provision Earnings Rise 5%

The bank's pretax pre-provision earnings increased by 5% to $3.5 billion. Scotiabank's latest quarterly results and archived financial documents are available on its website.

Additional Highlights

Other notable highlights from Scotiabank's Q3 earnings release include:

• Quarterly earnings of $2.6 billion or $2.10 per share, a 4% increase year-over-year.
• Return on equity of 13.5%, up from 13.1% in the previous quarter.
• Common equity tier 1 ratio of 11.4%, well above regulatory requirements.