Analyst Consensus ?
ConsensusHold19 ratings
Bullish1052.6%
Neutral842.1%
Bearish15.3%
The Bank of Nova Scotia · BNS · FY2025 Q1 · Calendar Q1 2025
Scotiabank: Strong fee revenue, but credit risks remain
The quarter supports a constructive operating picture through stronger fee revenue, wealth management, capital markets activity, and deposit-led client growth. The evidence is tempered by elevated provisions, tariff exposure, and questions about the durability of GBM momentum and loan growth.
Reported Before market openNYSEFinancial Services
$111.64B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $1.17
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $8.84B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-1.5%
Event window
SPY move
-0.5%
Same window
Abnormal move
-1.0%
Stock minus SPY
Volume
1.5×
Versus trailing sessions
Subsequent drift
-2.2%
Up to 20 sessions
BNSSPY benchmark
Ask FN2 about BNS FY2025 Q1
Transcript, numbers and history already loaded
What drove BNS's -1.5% move after FY2025 Q1 earnings?What changed in BNS's guidance and outlook in FY2025 Q1?Give me the bull and bear case for BNS after FY2025 Q1 earnings.
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Transcript intelligence
What changed
Compared with the prior-quarter analysis, the current analysis showed stronger non-interest revenue and completed the KeyCorp investment, while adding a Davivienda transaction and a tariff-risk provision build to the narrative. Management continued to emphasize client acquisition, productivity, and capital deployment.
Guidance delta
Maintained overall; management expected credit-loss provisions to fall in H2 2025 and planned dividend growth and share repurchases by year-end.
Key takeaways
- Adjusted earnings and EPS rose year over year and quarter over quarter.
- Non-interest revenue grew 15% year over year, led by wealth management and capital markets.
- Credit-loss provisions remained elevated, while management pointed to a strong CET1 ratio and potential capital returns.
Management priorities
- Expand wealth advisory and asset management
- Grow deposits and multi-product client relationships
- Deploy capital in the U.S. and execute the Davivienda partnership
- Deliver cost savings and improve productivity
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Beat
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Analyst 52W Price Targets
$91.6Current
$67Low
$72.15Average
$75.6High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 17, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| RBC Capital | Sector Perform | Sector Perform | Maintain | May 28, 2026 |
| Scotiabank | Hold | Hold | Maintain | Aug 30, 2023 |
| Barclays | Underweight | Underweight | Maintain | Aug 21, 2023 |
| CIBC | Outperform | Neutral | Upgrade | Mar 2, 2021 |
| B of A Securities | Neutral | Neutral | Maintain | May 13, 2020 |
| CFRA | Buy | Buy | Maintain | Mar 18, 2020 |
| Credit Suisse | Neutral | Outperform | Downgrade | Dec 13, 2019 |
| Bank of America | Buy | Neutral | Upgrade | Sep 24, 2019 |
| BMO Capital | Outperform | Outperform | Maintain | Aug 28, 2019 |
| Canaccord Genuity | Hold | Buy | Downgrade | Aug 29, 2018 |
| Dundee | Buy | Buy | Maintain | Sep 21, 2016 |
| Macquarie | Neutral | Outperform | Downgrade | Jun 9, 2016 |
| Cormark Securities | Buy | Market Perform | Upgrade | Jun 1, 2015 |
| Citigroup | Neutral | Neutral | Maintain | Mar 6, 2015 |
| TD Securities | Buy | Buy | Maintain | Aug 27, 2014 |
| National Bank Financial Inc | Outperform | Sector Perform | Upgrade | May 15, 2014 |
| National Bank Financial | Outperform | Sector Perform | Upgrade | May 15, 2014 |
| Stifel Nicolaus | Hold | Hold | Maintain | Aug 28, 2012 |
| Bank oferica | Buy | Buy | Maintain | May 30, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $91.6. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| RBC Capital | Darko Mihelic | $74 | $55.38 | -19.2% | Dec 4, 2024 |
| BMO Capital | Sohrab Movahedi | $72 | $48.98 | -21.4% | Aug 28, 2024 |
| UBS | Jill Shea | $67 | $45.46 | -26.9% | Jul 2, 2024 |
| Bank of America Securities | Ebrahim Poonawala | $75.6 | $62.51 | -17.5% | May 19, 2021 |
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Start freeCompany context
Snapshot as of publicationThe Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments. The company offers financial advice and solutions, and banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and insurance to individuals; and retail automotive financing solutions. It also provides business banking solutions comprising lending, deposit, cash management, and trade finance solutions to small, medium, and large businesses. In addition, it provides wealth management advice and solutions, including online brokerage, mobile investment, full-service brokerage, trust, private banking, and private investment counsel services; and retail mutual funds, exchange traded funds, liquid alternatives, and institutional funds. The company was founded in 1832 and is headquartered in Toronto, Canada.
Historical context
All BNS earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| MTB-PH M&T Bank Corporation | FY2026 Q3 · Calendar Q4 2026 | +2.2% | — | M&T Bank: Loan Growth Holds Up as Rates Pressure Margins |
| MTB-PJ M&T Bank Corporation | FY2026 Q3 · Calendar Q4 2026 | +2.2% | — | M&T: Deposit growth supports margins as AI use expands |
| RF-PE Regions Financial Corporation | FY2026 Q3 · Calendar Q4 2026 | +10.3% | — | Regions Financial: Fee Growth and Credit Quality Support Q3 |
| RF-PC Regions Financial Corporation | FY2026 Q3 · Calendar Q4 2026 | +10.3% | — | Regions Financial: Fee growth supports a steady Q3 outlook |
| TFC-PI Truist Financial Corporation | FY2026 Q3 · Calendar Q4 2026 | -50.9% | — | Truist sharpens focus as Q3 EPS rises 12% |
| TRV The Travelers Companies, Inc. | FY2026 Q3 · Calendar Q4 2026 | +24.2% | +1.5% | Travelers posts strong Q3, with investment income above $900 million |
Latest beats and misses
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-02-11T00:01:39.744939+00:00
- Polygon adjusted daily market bars · 2026-10-17T21:20:41.929975+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-17T21:20:41.927206+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-17. For educational purposes only; not investment advice.