|Bid||0.00 x 800|
|Ask||50.00 x 900|
|Day's range||41.30 - 42.37|
|52-week range||31.94 - 58.22|
|Beta (5Y monthly)||0.87|
|PE ratio (TTM)||8.23|
|Earnings date||06 Feb 2017 - 10 Feb 2017|
|Forward dividend & yield||2.56 (6.34%)|
|Ex-dividend date||06 Apr 2020|
|1y target est||72.27|
Canadian banks are bracing for higher loan losses this year and next due to the pandemic-driven recession. "The world is enduring extremely challenging times, both from a health and financial perspective," National Bank Chief Executive Louis Vachon said in a statement, adding the provisions reflect the bank's "most prudent estimate ahead of an uncertain macroeconomic outlook." National Bank posted a 32% decline in profit in the three months ended April 30, as money set aside to cover future loan losses surged six-fold to C$504 million ($365.59 million) from a year earlier.
My name is Philip Smith, Senior Vice President of Investor Relations. Presenting to you this morning is Brian Porter, Scotiabank's President and Chief Executive Officer; Raj Viswanathan, our Chief Financial Officer; and Daniel Moore, our Chief Risk Officer.
Kicking off bank results for the first period to reveal the hit from the coronavirus pandemic, Canada's third-biggest lender said credit provisions surged to C$1.85 billion ($1.33 billion). "I would expect (provisions in) Q3 to look very similar to what we experienced this quarter," Chief Executive Brian Porter said on an analyst call. Scotiabank also forecast lower earnings from its personal and commercial businesses in the third quarter.
Scotia Global Asset Management announces May 2020 cash distribution for Scotia Strategic Fixed Income ETF Portfolio
Bank of Nova Scotia (BNS) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
RBC Capital analyst Darko Mihelic maintained a Hold rating on Bank Of Nova Scotia (NYSE:BNS) on Wednesday, setting a price target of C$59, which is approximately 54.94% above the present share price of $38.08.
TORONTO , May 11, 2020 /CNW/ - Scotiabank is bringing hockey back. On Sunday, May 24 th, Hockey 24 – a 90 minute documentary developed using footage submitted by Canadians to recreate a snapshot of a single day of hockey in Canada – debuts on Sportsnet, commercial free. Last year, Scotiabank asked Canadians to submit home videos and photos that demonstrate their love of hockey, as players, coaches, parents, guardians and fans.
U.S. regulators were investigating Bank of Nova Scotia's (Scotiabank's) metals trading activities several months before it told staff it would wind down the unit, according to its most recent earnings report. In its first quarter earnings statement in February, Scotia said its metals business was under investigation by U.S. regulators. "The Commodity Futures Trading Commission (CFTC) and the Department of Justice's Criminal Division are conducting investigations into (Scotiabank's) activities and trading practices in the metals markets and related conduct," it said.
TORONTO , April 29, 2020 /CNW/ - Scotiabank, in partnership with the Canadian Medical Association (CMA) and MD Financial Management Inc. (MD), has committed $4.6 million to further support physicians during the COVID-19 pandemic. Physicians are courageously battling this pandemic – we want to help alleviate some of the stress and pressure they are facing where we can.
Scotiabank Launches Online Enrollment for CRA Direct Deposit of Canada Emergency Wage Subsidy Funds for Business Customers
TORONTO , April 25, 2020 /CNW/ - Today, Scotiabank announced that the Business Development Bank of Canada (BDC) Business Credit Availability Program (BCAP) will launch on Monday, April 27 , another relief program in support of Canadian businesses impacted by COVID-19. Available to Scotiabank Business Banking clients, this program will be launched in cooperation with the Government of Canada , to provide small, medium, and large businesses with options to manage through the challenges presented by COVID-19. The program provides a term loan of up to $6.25 million , arranged by Scotiabank, and 80% funded by the BDC.
TORONTO , April 24, 2020 /CNW/ - As our community works together to face the challenges of the COVID-19 pandemic, founding partners MLSE, Scotiabank, Tangerine Bank, Rogers and Bell have teamed up to create a large-scale meal program to support and thank Toronto's frontline health workers and their families, and to protect the city's most vulnerable. The goal of the community meal program, operating out of Scotiabank Arena, is to prepare and deliver as many as 10,000 meals a day to local hospital frontline workers and community agencies.
TORONTO , April 23, 2020 /CNW/ - To demonstrate its commitment to the communities of Nova Scotia , Scotiabank is donating $300,000 to help provide immediate and longer-term support to those impacted by recent tragic events. "In communities like Portapique, Wentworth, Debert , Shubenacadie , Milford and Enfield , a horrific event like this is unimaginable," said Dan Rees , Group Head, Canadian Banking, Scotiabank. To support first responders, as well as longer term relief efforts in the province, Scotiabank is donating $50,000 to the Mental Health Foundation of Nova Scotia directing support to the Tema Foundation Named Grant which provides Mental Health and Wellness services for First Responders, Care Providers and the people in their lives.
Scotia Global Asset Management announces April 2020 cash distribution for Scotia Strategic Fixed Income ETF Portfolio
Scotiabank announces availability of the Canadian Government's Export Development Canada Business Credit Availability Program
MONTREAL , April 14, 2020 /CNW/ - Scotiabank and the Canadian Medical Association, in collaboration with MD Financial Management Inc. (MD), today announced they will be contributing $200,000 to the Code Life Ventilator Challenge. A joint initiative between the Montreal General Hospital Foundation (MGHF) and the Research Institute of the McGill University Health Centre (RI-MUHC), the Code Life Ventilator Challenge is an international design competition that was held in March to create a simple, low-cost, easy-to-manufacture and easy-to-maintain ventilator.
Small and medium-sized businesses in Canada that have been affected by the coronavirus crisis were able to begin enrolling in a program to apply for interest-free loans of up to C$40,000 on Thursday, according to the Canadian Bankers' Association. As part of a number of measures announced by the federal government, the Canada Emergency Business Account (CEBA) program enables qualifying small businesses to apply online through their current lenders for the loans, a quarter of which is forgivable if repaid by Dec. 31, 2022. Scotiabank has so far approved the loans for 3,750 customers, over C$150 million, the bank said in an e-mailed statement on Thursday.
TORONTO , April 8, 2020 /CNW/ - Scotiabank announces the launch of its application process for the Canadian Government's new Canada Emergency Business Account (CEBA), effective April 9 th, 2020. The application process will be available via the Scotia mobile banking app and Scotia online banking for Scotiabank Small Business Banking customers, and through their respective relationship managers for Scotiabank Commercial Banking customers.