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Bank of Nova Scotia (BNS.TO)

BNS.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

BRIEF-Bank Of Nova Scotia Q2 earnings per share C$1.23
Tuesday, 31 May 2016 06:00am EDT 

Corrects fifth bullet to show revenue was $6.59 billion in the latest Q2, not $11.8 billion.Bank Of Nova Scotia : Scotiabank reports second quarter results . Q2 earnings per share C$1.23 . Q2 earnings per share view C$1.42 -- Thomson Reuters I/B/E/S . Q2 adjusted earnings per share C$1.46 . Q2 total revenue $6.59 billion versus $5.94 billion last year . Qtrly net interest income $3,518 million versus $3,198 million last year . Qtrly provision for credit losses was $752 million, up from $448 million in same quarter last year . Says as at April 30, 2016, CET1, tier 1, total capital and leverage ratios are well above basel III all-in minimum requirements . Qtrly roe of 12.1%, compared to 15.1% . Bank Of Nova Scotia says at quarter end bank's common equity tier 1 capital ratio "remains strong" at 10.1% .Q2 earnings per share c$1.23.  Full Article

Bank of Nova Scotia reports Q2 earnings of C$1.23 per share
Tuesday, 31 May 2016 06:00am EDT 

Bank Of Nova Scotia : Says Q2 total revenue $6.59 billion versus $5.94 billion last year . Scotiabank reports second quarter results . Q2 earnings per share C$1.23 . Q2 earnings per share view C$1.42 -- Thomson Reuters I/B/E/S . Q2 adjusted earnings per share C$1.46 . Qtrly net interest income $3,518 million versus $3,198 million last year . Says as at April 30, 2016, CET1, tier 1, total capital and leverage ratios are well above BASEL III all-in minimum requirements . Qtrly ROE of 12.1%, compared to 15.1 percent . Qtrly provision for credit losses was $752 million, up from $448 million in same quarter last year .Bank of Nova Scotia says at quarter end bank's common equity tier 1 capital ratio "remains strong" at 10.1 percent.  Full Article

Bank of Nova Scotia - Deutsche Bank AG to settle U.S. silver price-fixing litigation - Reuters News
Wednesday, 13 Apr 2016 07:01pm EDT 

Bank of Nova Scotia:Deutsche Bank AG has agreed to settle U.S. litigation over allegations it illegally conspired with Bank of Nova Scotia and HSBC Holdings Plc to fix silver prices at the expense of investors, a court filing on Wednesday showed - RTRS.Terms were not disclosed, but the accord will include a monetary payment by the German bank, a letter filed in Manhattan federal court by lawyers for the investors said.Deutsche Bank has signed a binding settlement term sheet, and is negotiating a formal settlement agreement to be submitted for approval by U.S. District Judge Valerie Caproni, who oversees the litigation.A Deutsche Bank spokeswoman declined to comment. Lawyers for the investors did not immediately respond to requests for comment.Investors accused Deutsche Bank, HSBC and ScotiaBank of abusing their power as three of the largest silver bullion banks to dictate the price of silver through a secret, once-a-day meeting known as the Silver Fix.According to the lawsuit, the defendants distorted prices on the roughly $30 billion of silver and silver financial instruments traded annually, violating U.S. antitrust law. UBS AG UBSG.S was also named as a defendant.Investors accused the Swiss bank of conspiring to exploit the Silver Fix, though it did not help set the benchmark.Spokesmen for HSBC and ScotiaBank declined to comment, saying they could not discuss pending litigation. A spokeswoman for UBS did not immediately respond to requests for comment.  Full Article

Bank of Nova Scotia announces dividend
Tuesday, 1 Mar 2016 06:02am EST 

Bank of Nova Scotia:Says dividend of $0.72 per share, an increase of 2 cents.Payable on April 27.Record date as on April 5.  Full Article

Bank of Nova Scotia to cut jobs, cites technology shift - Reuters
Friday, 23 Oct 2015 02:21pm EDT 

Bank of Nova Scotia:Bank of Nova Scotia is cutting an undisclosed number of jobs as part of a broader cost-reduction strategy as it moves to keep pace with technology changes in the financial services industry, Canada's No. 3 lender said - RTRS.Scotiabank, which had more than 87,000 employees at the end of July, said it would close offices in Calgary, Ottawa, Vancouver, Winnipeg and Halifax over the next two years, and it told employees about the layoffs on Thursday - RTRS.CBC News, citing one unidentified employee, spoke of 200 jobs being cut in one region. The lender said the figure was incorrect, but declined to say how many jobs would be eliminated - RTRS.The cuts include back-office and support jobs in its shared services group, adjudication centers and mortgage operations. Scotiabank also plans to consolidate operations through two new technology hubs in the Greater Toronto Area - RTRS.  Full Article

Bank of Nova Scotia to acquire JPMorgan Chase Credit Card Portfolio in Canada
Thursday, 15 Oct 2015 10:43am EDT 

Bank of Nova Scotia and JPMorgan Chase Bank N.A:Says have reached an agreement under which Scotiabank will acquire a MasterCard and private label credit card portfolio and the related credit card operations from JPMorgan Chase.Terms of the transaction are not financially material to Scotiabank or JPMorgan Chase.Scotiabank's common equity tier one capital ratio will be impacted by less than 10 basis points, primarily from the acquired assets.Acquisition will be accretive to Scotiabank's earnings in year one.Credit card portfolio includes approximately $1.7 Billion in receivables and 2 million well-performing active customer accounts.  Full Article

Bank of Nova Scotia declares dividend
Friday, 28 Aug 2015 06:30am EDT 

Bank of Nova Scotia:Approves a dividend of 70 cents per share, an increase of two cents per share.Says this quarterly dividend is payable to shareholders of record as of Oct. 6 on Oct. 28.  Full Article

Bank of Nova Scotia to acquire Citigroup's Retail and Commercial Banking Operations in Panama and Costa Rica
Tuesday, 14 Jul 2015 08:50am EDT 

Bank of Nova Scotia:Says Scotiabank to acquire citigroup's retail and commercial banking operations in Panama and costa rica.Says scotiabank's common equity tier one capital ratio will be impacted by about 15 basis points.Until deal receives regulatory approvals, all operations, branches, products, benefits programs to continue to operate as usual.Deal include assumption of Citigroup employees from retail,commercial banking in panama,costa rica by Scotiabank panama,costa rica.Transaction to provide lift to the bank's market share in credit cards to about 18 pct in Panama and 15 pct in costa rica.Acquisition will nearly triple scotiabank's customer base in Panama and costa rica from about 137,000 to 387,000.  Full Article

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