The Bank of Nova Scotia reported third-quarter 2026 net income of C$2.953 billion, up from C$2.527 billion in the same period a year earlier, as revenue climbed roughly 11% to C$10.5 billion, according to the bank's quarterly disclosures.
Diluted earnings per share rose to C$2.27 from C$1.84 in the prior-year quarter, with adjusted EPS coming in at C$2.28. Reported return on equity for the quarter stood at 14.1%, while adjusted ROE rose to 14.2% from 12.4% a year earlier.
REVENUE CLIMBS TO C$10.5 BILLION
Total revenue rose to C$10.5 billion from C$9.5 billion a year earlier, an increase of about 11%, as net interest income rose to C$5.87 billion from C$5.49 billion and non-interest income to C$4.67 billion from C$3.99 billion.
Diluted EPS of C$2.27 compares with C$1.84 in the year-earlier quarter, a jump of 23%. Adjusted net income was C$2.973 billion, compared with C$2.518 billion a year earlier.
By segment, Canadian Banking earnings rose 12% to C$1,071 million and International Banking earnings rose 8% to C$766 million, while Global Wealth Management (C$518 million, up 23%) and Global Banking and Markets (C$647 million, up 37%) both reported record earnings.
PROFITABILITY MEASURED AT 14.1% ROE
Reported return on equity was 14.1% for the quarter, up from 12.2% a year earlier, and Thomson said the bank had exceeded its 14% return on equity target.
Net income of C$2.953 billion, compared with C$2.527 billion a year earlier, translates into growth of about 17% at the profit line. Non-interest expenses rose about 9% to C$5.56 billion, slower than revenue growth.
The bank reported a CET1 capital ratio of 13.1% and repurchased 8.6 million shares in the quarter, and said it had returned C$6.3 billion to shareholders through buybacks and dividends in the year to date.
Chief executive Scott Thomson called it "a record quarter for the Bank, as all business lines reported strong results and we exceeded our medium-term objectives in the period".
The C$10.5 billion revenue print, C$2.953 billion net income and 14.1% return on equity were each higher than a year earlier.