The Bank of Nova Scotia Q1 2026 Earnings Recap

Scotiabank reported Q1 2026 adjusted earnings of $2.7 billion, achieving a 16% year-over-year increase in earnings per share, driven by strong revenue growth and disciplined expense management.

Key Takeaways

• Return on equity rose to 13%, surpassing Investor Day expectations and indicating improved profitability.
• Canadian Banking unit showed robust performance with a double-digit growth forecast and a return on equity of 18.1%.
• Global Wealth Management achieved $1.8 billion in net sales, marking six consecutive quarters of positive flows and a substantial increase in return on equity.
• International Banking earnings grew 10% year-over-year with a steady return on equity of 16%, as growth in non-mortgage lending outpaced mortgage growth.
• Global Banking and Markets benefited from disciplined pricing strategies, with return on equity exceeding 14% for the second consecutive quarter.