Bank of Nova Scotia - Fiscal 2018 Earnings & Price Target Update
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Scotiabank (BNS) is Canada's international bank and a financial services provider in North America, Latin America, Central America, and Asia-Pacific. Commercial and personal banking comprise 63% of revenues, Wealth Management – 10%, Capital Markets-25% and 2% from Insurance. By revenues - Canada contributes 60% and the US at 10% for a total of 70% from North America. Central American revenues are 15% comprised of Mexico- 5%, Chile-4%, Peru-3% Columbia-2% and Panama and Costa Rica at 1% each. The remaining 11% is from Europe, and South-East Asia. Total assets as of Oct-31-2018 were $998B, up from $915B or 9.1% from the Oct-31-2017 year end. They are Canada's third largest bank measured by assets.
Acquisitions - Dispositions
On Nov-27-2017, a binding offer was made to Chilean Banco Bilbao Vizcaya Argentaria, S.A. to acquire its 68.2% ownership for US$2.2B(Cdn-$2.9B). The minority partner and former owners with retain 31.8% of BBVA Chile. The acquisition closed on Jul-6-2018.
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