Bank of Nova Scotia reports stronger-than-expected Q3 results, driven by higher revenue and improved return on equity.
Bank of Nova Scotia posted third-quarter non-GAAP earnings per share of $2.28, exceeding estimates by $0.18. Revenue reached $10.54 billion, up 11.1% year-over-year and $610 million above expectations.
The bank’s adjusted return on equity rose to 14.2% from 12.4% in the prior period. Its Common Equity Tier 1 capital ratio remained strong, though the full figure was not disclosed in the release.
Shares may see modest gains as investors react to the earnings beat and improved profitability metrics.