Scotiabank reports first quarter results

Executive Summary

• Scotiabank reported Q1 2026 net income of C$2,299 million (reported) and adjusted net income of C$2,695 million, up from C$993 million and C$2,362 million respectively in Q1 2025.
• Diluted EPS rose to C$1.73 (reported) and C$2.05 (adjusted), compared with C$0.66 and C$1.76 a year earlier.
• Return on equity improved to 11.1% (reported) and 13.0% (adjusted), up from 5.5% and 11.8% in the prior year.

Key Details

• Net Income (Reported): C$2,299 million vs. C$993 million YoY.
• Adjusted Net Income: C$2,695 million vs. C$2,362 million YoY.
• Diluted EPS (Reported): C$1.73 vs. C$0.66 YoY.
• Adjusted Diluted EPS: C$2.05 vs. C$1.76 YoY.
• Return on Equity (ROE) – Reported: 11.1% vs. 5.5% YoY.
• Adjusted ROE: 13.0% vs. 11.8% YoY.

Segment Highlights

• CET1 Capital Ratio: 13.3% as of Jan 31 2026, up ~10 bps from prior quarter.
• Key Adjustments Impacting Results:
• Divestiture loss of $434 million (after‑tax) from sale of Colombia, Costa Rica & Panama operations.
• Restructuring and severance charge of $373 million (Q4 2025).

• Legal provision of $74 million (Q4 2025).

• Conference Call: Feb 24 2026 at 8:00 am ET; webcast available on investor‑relations site.

Notable Quotes

“2026 is off to a strong start for Scotiabank,” said Scott Thomson, President and CEO. “We delivered adjusted EPS growth of 16%, adjusted ROE of 13% and positive operating leverage of 4%.”

All figures are in Canadian dollars and reflect unaudited interim condensed consolidated financial statements.