![]() At our Investor Day, we highlighted some of the transformational work we've done over the past several years to build a much stronger and more competitive bank. Through this acquisition, we are following through on our strategic commitment to diversify our global wealth management business and build our platform across Canada and the Pacific Alliance.īefore I turn the call over to Sean, I want to make a few comments on our All Bank Investor Day, which we held earlier this month. The transaction significantly enhances our institutional investment capabilities and creates the third largest active asset manager in Canada, with $166 billion in assets under management. Jarislowsky, Fraser has been widely recognized for it's disciplined research process and high caliber team with a proven track record, and we are excited to join forces. The firm has approximately $40 billion in assets under management for institutional and ultrahigh net worth individuals. Subsequent to quarter end, we announced our plan to acquire Jarislowsky, Frasier Limited, a leading independent Canadian investment management firm. The quarter's strong performance reflects the ongoing execution of our strategy and building on our momentum to sustainably grow earnings and dividends for our shareholders. The acquisition positions Banco Colpatria as the leading credit card issuer in Columbia and increases our commercial banking presence.Īlong with the previously announced BBVA Chile transaction, these acquisitions are fully aligned with our Pacific Alliance strategy and will create value for our shareholders. On January 31st, we reached an agreement to acquire the consumer and small and medium enterprise operations of Citibank in Columbia. The bank's strong financial position provides us with optionality to invest in our businesses organically, grow through acquisitions, or return capital to our shareholders. The bank remains very well capitalized with a strong common equity Tier 1 ratio of 11.2%, or 11.75% on a pro forma basis. And the bank generated adjusted operating leverage of 2.9% this quarter. At the enterprise level, our structural cost initiatives are progressing well, one year ahead of schedule. Global bank end markets also had a solid performance in Q1 with good results across our global equities, foreign exchange, and fixed income businesses in the quarter. Overall, our personal and commercial banking businesses are generating roughly 80% of Scotiabank's earnings, with strong earnings growth and improving return on equity. ![]() International banking delivered another quarter of strong earnings, driven by double-digit loan growth in the Pacific Alliance, positive operating leverage, and solid credit quality. Following our comments, we will be glad to take your questions.Īlso, in the room with us to take questions are Scotiabank's business line group heads, James O'Sullivan from Canadian Banking and Nacho Deschamps from International Banking and Dieter Jentsch from Global Banking and Markets.īefore we start, and on behalf of those speaking today, I will refer you to Slide 2 of our presentation, which contains Scotiabank's caution regarding forward-looking statements. Presenting to you this morning is Brian Porter, Scotiabank's President and Chief Executive Officer Sean McGuckin, our Chief Financial Officer and Daniel Moore, our Chief Risk Officer. My name is Adam Borgatti, Vice President of Investor Relations. Good morning, and welcome to Scotiabank's 2018 First Quarter Results Presentation. Adam Borgatti - Vice President, Investor Relations ![]()
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