The Bank of Nova Scotia reported third-quarter adjusted net income of C$2.97 billion, adjusted diluted earnings of C$2.28 per share, and adjusted return on equity of 14.2%, up from 12.4% a year earlier, exceeding its 14%+ medium-term ROE objective. The improvement was broad-based, with Canadian Banking earnings up 12% to C$1.07 billion, Global Wealth Management up 23%, and total net interest income rising to C$5.87 billion from C$5.49 billion. However, Global Banking and Markets delivered the largest segment increase, with earnings up 37% to a record C$647 million, driven by capital-markets revenue and record underwriting and advisory fees that may not repeat. Credit trends were mixed, as provisions for credit losses rose to C$1.08 billion from C$1.04 billion a year earlier, and the CET1 ratio declined 20 basis points sequentially to 13.1%. The bank repurchased 8.6 million shares during the quarter and returned C$6.3 billion to shareholders in the first nine months of fiscal 2026, but sustaining ROE above 14% will require more than one quarter of record fees.
ConocoPhillips
Chevron CorpBank of Nova ScotiaReports strong Q3 earnings with ROE above target, though sustainability questioned.
