Scotiabank reported higher third-quarter earnings, with net income rising to C$2.95 billion from C$2.53 billion a year earlier. The Canadian bank benefited from stronger revenue across its businesses, including a record result from Global Wealth Management and strong performance in Global Banking and Markets.
Scotiabank reported a stronger third quarter, with net income increasing as the Canadian lender benefited from improved results across its businesses, including a record performance from its Global Wealth Management division.
The Bank of Nova Scotia reported third-quarter net income of C$2.95 billion, or C$2.27 per share, for the three months ended July 31, 2026. That compared with net income of C$2.53 billion, or C$1.84 per share, in the same period a year earlier.
On an adjusted basis, Scotiabank earned C$2.28 per share, above the C$2.10 average estimate from analysts surveyed by FactSet, according to Reuters. The bank's net interest income increased to C$5.87 billion from C$5.49 billion a year earlier, helping support the overall increase in earnings.
Scotiabank's Global Banking and Markets business also delivered a strong quarter. Net income attributable to equity holders in the division rose to C$647 million, from C$473 million a year earlier. Reuters said the increase was supported by stronger capital-markets revenue and record fees from underwriting and advisory services.
The bank's results also reflected continued strength in its wealth-management operations. Scotiabank described the quarter as a record result for Global Wealth Management, adding to the contribution from its other major businesses.
Scotiabank Chief Executive Officer Scott Thomson described the quarter as a record period for the bank and said it achieved a 14% return on equity, according to Reuters. The bank's performance came despite an uncertain global economic environment and continuing trade tensions.
The Canadian banking sector has remained resilient despite concerns over the impact of tariffs and broader economic uncertainty. Reuters reported that Scotiabank and Bank of Montreal both exceeded quarterly profit expectations, with stronger capital-markets and domestic banking operations supporting their results.
Scotiabank's latest results continue a year of improving performance across several of its businesses. The bank's official financial-results page confirms that its third-quarter 2026 results were released on August 25, 2026, with the reporting period ending July 31.
The stronger quarterly earnings give investors a clearer indication of the bank's ability to generate growth across wealth management, capital markets and its core banking operations while navigating a challenging economic environment.
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