Key Developments: Bank of Nova Scotia (BNS)
57.49USD
23 May 2013
$0.15 (+0.26%)
$57.34
$57.10
$57.63
$56.95
466,725
475,822
$60.23
$48.45
Latest Key Developments (Source: Significant Developments)
Bank of Nova Scotia Still Keen On Bank Of Guangzhou Stake-DJ
Dow Jones reported that Bank of Nova Scotia still hopes to complete its deal to acquire a minority stake in China's Bank of Guangzhou, Chief Executive Rick Waugh said Tuesday. Canadian bank first announced its planned purchase of a near-20% stake in Bank of Guangzhou in September 2011 and that Chinese officials are reevaluating the transaction Full Article
Bank of Nova Scotia and Grupo de Inversiones Suramericana SA Buy BBVA Peru Fund-Reuters
Reuters reported that Bank of Nova Scotia and Grupo de Inversiones Suramericana SA said they bought the Peruvian pension fund BBVA Horizonte for a total of $516 million, as competition heats up in the surging sector. Each firm paid around $258 million for a 50% stake in Horizonte, officials said as BBVA exited the pension business in Peru. Horizonte has about $9 billion in assets under management. Bank of Nova Scotia, known as Scotiabank in Peru, made the purchase through its local pension fund Profuturo. Sura bought its stake via its Integra pension fund unit. Full Article
Bank of Nova Scotia Announces Increases Dividend
Bank of Nova Scotia announced that the quarterly dividend increase by 3 cents to 60 cents per share, payable on April 26, 2013, July 29, 2013 and October 29, 2013, to the shareholder of record date April 02, 2013, July 02, 2013 and October 01, 2013 respectively. Full Article
Bank of Nova Scotia Reaffirms FY 2013 EPS Guidance-Conference Call
Bank of Nova Scotia announced that for fiscal 2013, which are mostly unchanged from fiscal 2012, it expects earnings per share (EPS) growth of 5% to 10% for fiscal 2013, excluding the real estate gains recorded in fiscal 2012. The Company reported EPS of CAD4.77 in fiscal 2012. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of CAD5.11 for fiscal 2013. Full Article
Bank of Nova Scotia Announces Dividend
Bank of Nova Scotia announced a dividend on the outstanding shares of the Bank for the quarter ending January 31, 2013, as follows, payable on January 29, 2013 to shareholders of record at the close of business on January 2, 2013: Common shares of $0.57 per share; Non-Cumulative Preferred Shares: Series 12, Dividend # 58 of $0.328125 per share; Series 13, Dividend # 31 of $0.30 per share; Series 14, Dividend # 24 of $0.28125 per share; Series 15, Dividend # 23 of $0.28125 per share; Series 16, Dividend # 21 of $0.328125 per share; Series 17, Dividend # 20 of $0.35 per share; Series 18, Dividend # 19 of $0.3125 per share; Series 20, Dividend # 19 of $0.3125 per share; Series 22, Dividend # 17 of $0.3125 per share; Series 24, Dividend # 16 of $0.3906 per share; Series 26, Dividend # 16 of $0.390625 per share; Series 28, Dividend # 16 of $0.390625 per share; Series 30, Dividend # 11 of $0.240625 per share; Series 32, Dividend # 8 of $0.23125 per share. Full Article
Bank of Nova Scotia Announces Appointment Of Brian Porter As President
Bank of Nova Scotia announced Brian Porter's appointment as President effective November 1. Rick Waugh continues in his role as Chief Executive Officer with Brian Porter reporting to him as President. Full Article
Moody's Warns May Downgrade Bank of Nova Scotia And Other Canadian Banks-Reuters
Reuters reported that Moody's Investors Service warned on Friday it could cut its ratings on five top Canadian banks on concerns about a softening economy and volatile capital markets, a blow to a banking system named the soundest in the world four years in a row. But the outlook for the sector is no longer as rosy, Moody's said, because of the risks presented by the macroeconomic environment and a business mix that leans heavily on domestic mortgages and other consumer lending. The warning applies to long-term debt ratings for Toronto Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce and National Bank of Canada. It also applies to Caisse Centrale Desjardins, Canada's largest association of credit unions. The ratings agency said any cuts would likely be only one notch. The sector's ratings are still among the highest in the world. Full Article
Bank of Nova Scotia Announces Referral Relationship With Kotak Mahindra Bank Ltd
Bank of Nova Scotia announced that it has reached an agreement with India's Kotak Mahindra Bank Ltd to provide financial services to people emigrating to Canada and to Indo-Canadians seeking accounts and investment services in India. This alliance will bring together the respective strengths of each bank to enable referrals for customers in Canada and India. Through the alliance, select Kotak Mahindra Bank branches will offer Canada-bound Indian residents with access to the Scotiabank StartRight Program for Newcomers. The Scotiabank StartRight program includes an international account opening program and assists with Canadian credit card applications, all prior to leaving India. In Canada, select Scotiabank branches will help non-resident Indian customers seeking bank accounts in India by referring them to Kotak Mahindra Bank's MyIndia Program their non-resident Indian (NRI) and people of Indian Origin (POI) banking solution. Full Article
Bank of Nova Scotia Buys ING Groep NV's ING Direct Canada -Reuters
Reuters reported that Bank of Nova Scotia greed to buy ING Groep's Canadian online bank for CAD3.1 billion ($3.14 billion). The online bank, branded as ING Direct Canada, will bring 1.8 million customers, CAD40 billion in assets and CAD30 billion in deposits under the wing of the bank commonly known as Scotiabank. The online bank, branded as ING Direct Canada, will bring 1.8 million customers, CAD40 billion in assets and CAD30 billion in deposits under the wing of the bank commonly known as Scotiabank. Full Article
Bank of Nova Scotia Announces Dividend on Outstanding Shares
Bank of Nova Scotia announced a dividend on the outstanding shares of the Bank for the quarter ending October 31, 2012, as follows, payable on October 29, 2012 to shareholders of record at the close of business on October 2, 2012: Common Shares Dividend No. 573 of $0.57 per share; Non-Cumulative Preferred Shares Series 12, Dividend No. 57 of $0.328125 per share; Series 13, Dividend No. 30 of $0.30 per share; Series 14, Dividend No. 23 of $0.28125 per share; Series 15, Dividend No. 22 of $0.28125 per share; Series 16, Dividend No. 20 of $0.328125 per share; Series 17, Dividend No. 19 of $0.35 per share; Series 18, Dividend No. 18 of $0.3125 per share; Series 20, Dividend No. 18 of $0.3125 per share; Series 22, Dividend No. 16 of $0.3125 per share; Series 24, Dividend No. 15 of $0.3906 per share; Series 26, Dividend No. 15 of $0.390625 per share; Series 28, Dividend No. 15 of $0.390625 per share; Series 30, Dividend No. 10 of $0.240625 per share; Series 32, Dividend No. 7 of $0.23125 per share. Full Article
Scotiabank says China reevaluating Guangzhou deal
TORONTO - Bank of Nova Scotia Chief Executive Rick Waugh said on Tuesday that Chinese authorities are reevaluating whether they want to go ahead with a deal to sell 20 percent of Bank of Guangzhou to the Canadian bank.
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