Company Profile For The Bank of Nova Scotia

The Bank of Nova Scotia (BNS.TO) (Toronto Stock Exchange)

sector: Financials · industry: Banks ·

As of 25 Nov 2009

49.06CAD

Price Change

-0.18

Percent Change

-0.37%

Analyst Recommendations

Overview

The Bank of Nova Scotia is a financial institution, active in both Canadian and international markets. In Canada, the Bank provides a range of retail, commercial, corporate, investment and wholesale banking services through its network of branches and offices. The Bank has three segments: Canadian Banking (formerly Domestic Banking), International Banking, and Scotia Capital. On September 22, 2008, The Bank acquired E*TRADE FINANCIAL Corp. During the fiscal year ended October 31, 2008, it acquired an additional 20% of Scotiabank Peru. The Bank completed the acquisition of Chile’s Banco del Desarrollo on November 26, 2007. In March 2009, the Company announced the acquisition of a majority interest in Five Continents Financial Ltd. (FCFL), a global asset management company.

Quick Financial Synopsis

BRIEF: For the nine months ended 31 July 2009, The Bank of Nova Scotia's interest income decreased 10% to C$14.84B. Net interest income after LLP decreased 6% to C$4.91B. Net income applicable to Common decreased 9% to C$2.51B. Net interest income reflects lower interest income from securities & deposits with banks. Net income reflects an increase in salaries & employee benefits, higher premises & technology expenses and an increase in business taxes.