The broad-based earnings beat across all segments and record ROE of 14.1% (exceeding the 14% medium-term target) signal strong operational momentum. Traders should watch for potential upward analyst revisions and continued share buyback activity. The CET1 ratio decline from buybacks is manageable given the strong capital position.
Price Chart
Executive Summary
Scotiabank reported a record Q3 2026 with net income of $2,953M (up 17% YoY), diluted EPS of $2.27 (up 23% YoY), and total revenue of $10,535M (up 11% YoY). All business segments posted strong results, with Canadian Banking up 12%, International Banking up 8%, Global Wealth Management up 23%, and Global Banking and Markets up 37%. The CET1 ratio remained strong at 13.1% despite share repurchases of 8.6 million shares.
Key Facts
- Q3 2026 net income $2,953M vs $2,527M in Q3 2025
- Diluted EPS $2.27 vs $1.84 YoY
- Total revenue $10,535M vs $9,486M YoY
- Return on equity 14.1% vs 12.2% YoY
- CET1 capital ratio 13.1% (down 20 bps QoQ from share buybacks and RWA growth)
- All four business segments reported YoY earnings growth: Canadian Banking +12%, International Banking +8%, Global Wealth Management +23%, Global Banking and Markets +37%
- Repurchased 8.6 million shares in the quarter; $6.3B returned to shareholders YTD via buybacks and dividends
Financial Impact
Revenue increased 11% YoY to $10.5B, net income up 17% to $2.95B, EPS up 23% to $2.27. Record quarterly earnings across all segments.
Risk Factors
- Provision for credit losses increased to $1,079M from $1,041M YoY, with higher impaired loan provisions in corporate and Canadian retail portfolios
- CET1 ratio declined 20 bps QoQ to 13.1% due to RWA growth and share repurchases
- International Banking revenue declined on a constant dollar basis (down 1% YoY)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001193125-26-364091 |
| Document: 0001193125-26-364091-index-headers.html | 0001193125-26-364091 |
| Document: 0001193125-26-364091-index.html | 0001193125-26-364091 |
| Document: 0001193125-26-364091.txt | 0001193125-26-364091 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 25, 2026 5w ago | 6-K | $93.10 $92.25 | ▼ −0.91% | ▼ −1.89% | $91.04 (−2.21%) |
Aug 25, 2026 5w ago | 6-K | $93.10 $92.25 | ▼ −0.91% | ▼ −1.89% | $91.04 (−2.21%) |
Aug 25, 2026 5w ago | 6-K | $93.10 $92.25 | ▼ −0.91% | ▼ −1.89% | $91.04 (−2.21%) |
Aug 25, 2026 5w ago | 6-K | $93.10 $92.25 | ▼ −0.91% | ▼ −1.89% | $91.04 (−2.21%) |
Jul 22, 2026 10w ago | 6-K | $87.57 $87.69 | ▲ +0.14% | ▼ −2.76% | $91.04 (+3.96%) |
Jun 5, 2026 16w ago | 6-K | $80.56 $87.09 | ▲ +8.11% | ▲ +6.24% | $91.04 (+13.01%) |
May 29, 2026 17w ago | 425 | $78.61 $86.84 | ▲ +10.47% | ▲ +11.77% | $91.04 (+15.81%) |
May 27, 2026 18w ago | 6-K | $80.68 $86.46 | ▲ +7.16% | ▲ +9.07% | $91.04 (+12.84%) |
May 27, 2026 18w ago | 6-K | $80.68 $86.46 | ▲ +7.16% | ▲ +9.07% | $91.04 (+12.84%) |
May 27, 2026 18w ago | 6-K | $80.68 $86.46 | ▲ +7.16% | ▲ +9.07% | $91.04 (+12.84%) |
US Market Status
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