BNS
Financial ServicesThe Bank of Nova Scotia · Banks - Diversified · $98B
What is The Bank of Nova Scotia?
The Bank of Nova Scotia — commonly known as Scotiabank — is one of Canada's largest financial institutions, serving millions of retail, commercial, and corporate customers across Canada, Latin America, the Caribbean, and beyond.
Scotiabank generates revenue through four main segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets. Its Canadian operations cover everyday banking, mortgages, loans, and insurance for individuals and businesses. Its international footprint — spanning Mexico, Peru, Chile, Colombia, and the Caribbean — sets it apart from most domestic peers. The wealth management arm offers brokerage, private banking, and fund products, while the capital markets segment serves corporate clients with advisory and financing services.
Scotiabank is headquartered in Toronto, Canada, and has operated as a major chartered bank for well over a century.
- Personal and business banking accounts, cards, and loans
- Residential mortgages and automotive financing
- Wealth management, brokerage, and private banking services
- Retail and institutional mutual funds and ETFs
- International banking for retail and corporate clients
Is BNS a Good Stock to Buy?
UQS Score rates BNS as Below Average overall, reflecting a mixed picture across its five quality pillars.
Valuation stands out as the relative bright spot, rated Good — suggesting the market may already be pricing in the bank's challenges. Quality and Growth both register as Neutral, indicating the business maintains a functional but unexceptional earnings profile and moderate expansion trajectory.
The Moat and Risk pillars are both rated Weak, pointing to limited competitive differentiation and above-average exposure to credit, currency, and macroeconomic pressures — particularly given Scotiabank's heavy Latin American concentration.
Pro members can view the full pillar breakdown and underlying financial metrics to see exactly where BNS stands against sector peers. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does BNS pay dividends?
Yes — The Bank of Nova Scotia pays a dividend.
BNS pays a regular dividend, consistent with the tradition of Canada's major chartered banks returning capital to shareholders. Scotiabank has maintained dividend payments through multiple economic cycles, making it a common holding for income-oriented investors. The sustainability of that dividend is worth examining alongside the bank's Risk pillar rating — full metrics are available to Pro members.
When does BNS report earnings?
The Bank of Nova Scotia reports earnings on a quarterly cadence, typical for large-cap financial institutions listed on North American exchanges.
Scotiabank's results reflect the dual pressures of a competitive Canadian banking market and macroeconomic headwinds across its Latin American operations. Revenue trends and credit quality remain key variables investors watch each quarter.
For the most recent quarter's results and guidance, visit The Bank of Nova Scotia's official investor relations page.
BNS Price History
+43.3% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in The Bank of Nova Scotia?
Based on The Bank of Nova Scotia's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
BNS Long-term Outlook
With Growth and Quality both rated Neutral, BNS does not present a high-conviction expansion story in either direction. The Weak Risk rating signals that external factors — including interest rate shifts, currency volatility in Latin America, and credit cycle exposure — could weigh on results. The Good Valuation rating suggests limited downside may already be reflected in the price, but a re-rating upward would likely require meaningful improvement in the Moat or Risk profile.
Growth drivers
- Expansion of wealth management and fee-based revenue streams
- Potential recovery in Latin American markets as macro conditions stabilize
- Digital banking adoption reducing operating costs over time
Key risks
- Currency and credit risk across emerging-market Latin American operations
- Competitive pressure in Canadian banking limiting domestic margin expansion
- Elevated macroeconomic sensitivity given the Weak Risk pillar rating
BNS vs Peers
BNS competes with a range of domestic and international banks, each with a distinct geographic and business-model footprint.
CIBC is more domestically concentrated than Scotiabank, with a larger share of revenue tied to the Canadian mortgage and retail banking market.
Barclays operates primarily across the UK and US, with a stronger emphasis on investment banking and capital markets relative to Scotiabank's retail-heavy model.
ING pursues a digital-first banking model across Europe and select international markets, contrasting with Scotiabank's branch-heavy physical network.
Frequently Asked Questions
What does The Bank of Nova Scotia do?
Scotiabank provides a broad range of financial services — including personal and business banking, mortgages, wealth management, and capital markets — across Canada, Latin America, the Caribbean, and other international markets. It operates through four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.
Does BNS pay dividends?
Yes, BNS pays a regular dividend. Canada's major chartered banks have a long history of consistent dividend payments, and Scotiabank is no exception. Income-focused investors often hold BNS for this reason, though the bank's Risk pillar rating is worth considering when assessing dividend sustainability.
When does BNS report earnings?
The Bank of Nova Scotia reports earnings quarterly, in line with standard practice for large-cap North American financial institutions. For exact dates and the most recent results, check the investor relations section of Scotiabank's official website.
Is BNS a good stock to buy?
UQS Score rates BNS as Below Average overall. The Valuation pillar is rated Good, which may appeal to value-oriented investors, but the Weak Moat and Weak Risk ratings highlight meaningful concerns. Whether BNS fits a portfolio depends on individual risk tolerance and investment goals — the full pillar breakdown is available to Pro members.
Is BNS overvalued?
Based on the UQS Valuation pillar, BNS is rated Good — suggesting the stock is not considered expensive relative to its fundamentals at current levels. However, valuation alone does not tell the full story; the Weak Moat and Risk ratings are important context for any valuation assessment.
How does BNS compare to its competitors?
Among large-cap banks, BNS is distinctive for its Latin American footprint, which differentiates it from more domestically focused peers like CIBC. Compared to European banks such as Barclays and ING, Scotiabank's model is more retail-oriented and geographically concentrated in the Americas. The UQS platform allows side-by-side pillar comparisons for Pro members.
What is BNS's market cap bracket?
BNS is classified as a large-cap stock, reflecting its status as one of Canada's largest banks by assets and market value. Large-cap financials like Scotiabank typically attract institutional investors seeking dividend income and relative stability within the banking sector.
Who founded The Bank of Nova Scotia?
The Bank of Nova Scotia has roots dating back to the nineteenth century, founded in Halifax, Nova Scotia. Its long operating history is a defining characteristic of the institution. Detailed founding history is widely available through Scotiabank's official corporate history resources.
Is BNS a long-term quality investment?
As a long-term quality indicator, BNS scores Below Average on the UQS composite. The Neutral Quality and Growth ratings suggest the business is stable but not compounding at an exceptional rate, while the Weak Moat rating raises questions about durable competitive advantage over a long horizon. Pro members can access the complete analysis.
What is the main competitive advantage of The Bank of Nova Scotia?
Scotiabank's most distinctive characteristic is its international banking network, particularly its presence across Latin American markets where many Canadian peers have limited exposure. However, the UQS Moat pillar rates this advantage as Weak, suggesting the bank's competitive positioning does not yet translate into a clearly defensible economic moat.
What sector does BNS belong to?
BNS operates in the Financial Services sector, specifically within the diversified banking industry. It is one of Canada's 'Big Six' chartered banks and is listed on both the Toronto Stock Exchange and the New York Stock Exchange, giving it broad investor accessibility.
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Pro Analysis
BNS — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 22, 2026 | 45.2 | 51.2 | 39.0 | 56.9 | 0.0 | 75.3 | -0.1 |
| May 21, 2026 | 45.3 | 51.2 | 39.0 | 56.9 | 0.0 | 75.4 | 0.0 |
| May 15, 2026 | 45.3 | 51.2 | 39.0 | 56.9 | 0.0 | 75.6 | 0.0 |
| May 14, 2026 | 45.3 | 51.2 | 39.0 | 56.9 | 0.0 | 75.7 | 0.0 |
| May 11, 2026 | 45.3 | 51.2 | 39.0 | 56.9 | 0.0 | 75.6 | +0.4 |
| May 10, 2026 | 44.9 | 51.2 | 39.0 | 56.9 | 0.0 | 73.3 | -0.4 |
| May 3, 2026 | 45.3 | 51.2 | 39.0 | 56.9 | 0.0 | 75.5 | 0.0 |
| May 1, 2026 | 45.3 | 51.3 | 39.0 | 56.9 | 0.0 | 75.8 | -0.1 |
| Apr 26, 2026 | 45.4 | 51.5 | 39.0 | 56.9 | 0.0 | 75.8 | 0.0 |
| Apr 25, 2026 | 45.4 | 51.5 | 39.0 | 56.9 | 0.0 | 75.6 | 0.0 |
BNS — Pillar Breakdown
Quality
— 51.2/100 (25%)The Bank of Nova Scotia has average quality metrics, with room for improvement in margins or capital efficiency.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Free cash flow relative to market value.
Growth
— 56.9/100 (20%)The Bank of Nova Scotia demonstrates healthy growth trends across revenue and earnings.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 0.0/100 (15%)The Bank of Nova Scotia presents elevated risk with concerns around leverage or financial stability.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 75.3/100 (15%)The Bank of Nova Scotia appears attractively valued relative to its earnings, cash flows, and sector peers.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 39/100 (25%)The Bank of Nova Scotia possesses some competitive advantages but faces meaningful competition. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for BNS.
Score Composition
Financial Data
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How is the BNS UQS Score Calculated?
The UQS (Unified Quality Score) for The Bank of Nova Scotia is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses The Bank of Nova Scotia's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether The Bank of Nova Scotia is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.