Scotiabank (TSX: BNS) reported Q1 2026 net income of $2.30 billion, up from $993.0 million a year earlier, thanks to a material impairment loss recorded in Q1 2025. This bottomline translates to $1.73 earnings per diluted share.
Net interest income was $5.58 billion, up from $5.17 billion year-over-year, while non-interest income was $4.06 billion, down from $4.20 billion last year. These drive total revenue of $9.65 billion, up from $9.37 billion.
Non-interest expenses were $5.30 billion, down from $6.49 billion last year, which included a $1.36 billion impairment loss tied to the announced sale of Scotiabank’s banking operations in Colombia, Costa Rica, and Panama.
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On an adjusted basis, net income came down to $2.70 billion, an increase from $2.36 billion a year ago. The adjusted bottomline translates to $2.05 earnings per diluted share.
Reported ROE then landed at 11.1% versus 5.5% a year earlier, while on adjusted basis, ROE was 13.0% versus 11.8%.
Provision for credit losses was $1.18 billion, a jump from $1.16 billion last year. Breaking it down, impaired-loan PCL contributed the lion’s share at $1.10 billion while performing-loan PCL was $73.0 million.
Net cash provided by operating activities was an inflow of $12.88 billion in Q1 2026 versus $4.73 billion a year earlier, driven by working-capital and market-related swings including deposits up $32.85 billion and repurchase agreement obligations up $20.02 billion.
The CET1 ratio was 13.3% at January 31, 2026, up about 10 basis points sequentially, with Tier 1 capital ratio at 15.4%, total capital ratio at 17.0%, and leverage ratio at 4.4%.
Scotiabank last traded at $104.01 on the TSX.
Information for this story was found via Sedar and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
