Scotiabank Grows CET1 Ratio as Net Income Increases; ROE Remains In Line With Our Expectations
There was little in wide-moat-rated Bank of Nova Scotia’s fiscal fourth-quarter results that would change our long-term view of the bank. We are updating our fair value estimates to CAD 79 and $59, due solely to updated exchange rates and the time value of money.After adjusting for restructuring charges, return on equity was 14.3% for fiscal 2016. We expect returns on equity to remain, on average, at 14% in the medium term. Credit costs associated with the energy sector declined during the qua...
Scotiabank is a financial services provider in North America, Latin America, the Caribbean and Central America, and parts of Asia. Through its three operating segments: Canadian Banking, International Banking, and Global Banking and Markets, Co. provides a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. As of Oct 31 2017, Co. had total assets of C$915,273 million and total deposits of C$625,367 million.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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