Bank of Nova Scotia T.BNS

Alternate Symbol(s): BNS

Financial Services

The Bank of Nova Scotia (the Bank) is a Canadian chartered bank. The Bank's segments include Canadian Banking, International Banking, Global Wealth Management, Global Banking and Markets, and Other. The Canadian Banking segment provides a full suite of financial advice and banking solutions. The International Banking segment is a diverse franchise offering financial advice and solutions to retail, corporate and commercial clients. The Global Wealth Management segment is focused on delivering comprehensive wealth management advice and solutions to clients across the Bank's footprint. The Global Wealth Management segment serves investment fund and advisory clients across 13 countries. The Global Banking and Markets segment provides corporate clients with lending and transaction services, investment banking advice and access to capital markets. The Other segment includes Group Treasury, smaller operating segments and corporate items which are not allocated to a business line.

TSX:BNS - Post by User

Bank of Nova Scotia

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Post by Possibleidiot01on Feb 29, 2024 3:05pm

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Post# 35907298

Robert Gill -BNN - TOP PICK

Bank of Nova Scotia (BNS TSX)

This is the most international of Canada’s “Big 6” banks, with approximately 30 per cent of revenue coming from Central and South America. After lagging the rest of the Big Six banks in share price performance, BNS recently hired a new CEO, who has conducted a strategic review. The firm now has a mandate to reposition itself for greater growth. They will focus less on Latin America, and focus more on domestic banking and wealth management. Shares are attractively priced and pay a very impressive yield.

TOP PICK

Lots to like in the results. Softness in Latin markets created buying opportunity. New focus on Canada, Mexico, wealth management. Earnings impressively beat in both Canadian and international banking. Oligopolistic nature of Canadian banking has lead to outperformance over US banks over time. Yield is 6.5%.

(Analysts’ price target is $65.48)

banks

$65.550