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Operating Segments (Tables)
 12 Months Ended
Oct. 31, 2025
Text Block [Abstract]  
Schedule of Operating Segments
Scotiabank’s results, and average assets and liabilities, allocated by these operating segments, are as follows:
 
For the year ended October 31, 2025                                          
Taxable equivalent basis ($ millions)  
Canadian
Banking
    
International
Banking
    
Global Wealth
Management
    
Global Banking
and Markets
    
Other
(1)
    
Total
  
Net interest income
(
2
)
  
$
 10,484
 
  
$
  8,866
 
  
$
 1,025
 
  
$
 1,400
 
  
$
(253
) 
  
$
 21,522
 
Non-interest
income
(
3
)(
4
)
  
 
2,941
 
  
 
3,177
 
  
 
5,403
 
  
 
4,766
 
  
 
(68
) 
  
 
16,219
 
Total revenues
  
 
13,425
 
  
 
12,043
 
  
 
6,428
 
  
 
6,166
 
  
 
(321
) 
  
 
37,741
 
Provision for credit losses
  
 
2,293
 
  
 
2,309
 
  
 
14
 
  
 
97
 
  
 
1
 
  
 
4,714
 
Depreciation and amortization
  
 
552
 
  
 
483
 
  
 
189
 
  
 
259
 
  
 
121
 
  
 
1,604
 
Other
non-interest
expenses
  
 
5,853
 
  
 
5,681
 
  
 
3,955
 
  
 
3,304
 
  
 
2,121
 
  
 
20,914
 
Income tax expense
  
 
1,302
 
  
 
781
 
  
 
590
 
  
 
585
 
  
 
(507
) 
  
 
2,751
 
Net income
  
$
3,425
 
  
$
2,789
 
  
$
1,680
 
  
$
1,921
 
  
$
 (2,057
) 
  
$
7,758
 
Net income attributable to
non-controlling
interests in subsidiaries
  
 
–
 
  
 
158
 
  
 
10
 
  
 
(1
) 
  
 
(198
) 
  
 
(31
) 
Net income attributable to equity holders of the Bank
  
$
3,425
 
  
$
2,631
 
  
$
1,670
 
  
$
1,922
 
  
$
(1,859
) 
  
$
7,789
 
Average assets ($ billions)
  
 
463
 
  
 
227
 
  
 
38
 
  
 
509
 
  
 
228
 
  
 
1,465
 
Average liabilities ($ billions)
  
 
382
 
  
 
175
 
  
 
48
 
  
 
520
 
  
 
254
 
  
 
1,379
 
 
(1)
Includes all other smaller operating segments and corporate adjustments.
(2)
Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure.
(3)
Card revenues and Banking services fees are mainly earned in Canadian and International Banking. Mutual fund, Brokerage fees and Investment management and trust fees are primarily earned in Global Wealth Management. Underwriting and other advisory fees are predominantly earned in Global Banking and Markets.
(
4
)
Includes net income (on a taxable equivalent basis) from investments in associated corporations for Canadian Banking – $19; International Banking – $152; Global Banking and Markets – $1; and Other – $436.
 
 
For the year ended October 31, 2024                                          
Taxable equivalent basis ($ millions)  
Canadian
Banking
(1)
    
International
Banking
(1)
    
Global Wealth
Management
(1)
    
Global Banking
and Markets
(1)
    
Other
(1)(2)
    
Total
  
Net interest income
(3)
   $ 10,185     $ 8,867     $ 786     $ 1,102     $ (1,688 )    $ 19,252  
Non-interest
income
(4)(5)
     2,848       2,999       4,803       3,959       (191 )      14,418  
Total revenues
      13,033        11,866        5,589        5,061        (1,879 )       33,670  
Provision for credit losses
     1,691       2,285       27       47       1       4,051  
Depreciation and amortization
(6)
     568       568       187       258       179       1,760  
Other
non-interest
expenses
     5,557       5,602       3,468       2,864       444       17,935  
Income tax expense
     1,440       705       479       414       (1,006 )      2,032  
Net income
   $ 3,777     $ 2,706     $ 1,428     $ 1,478     $ (1,497 )    $ 7,892  
Net income attributable to
non-controlling
interests in subsidiaries
     –       125       10       –       (1 )      134  
Net income attributable to equity holders of the Bank
   $ 3,777     $ 2,581     $ 1,418     $ 1,478     $ (1,496 )    $ 7,758  
Average assets ($ billions)
     449       231       35       495       209       1,419  
Average liabilities ($ billions)
     389       179       41       475       254       1,338  
 
(1)
Effective Q1 2025, changes were made to the methodology used to allocate certain income, expenses and balance sheet items between business segments. Prior period results for each segment have been reclassified to conform with the current period’s methodology.
(2)
Includes all other smaller operating segments and corporate adjustments, such as the elimination of the
tax-exempt
income
gross-up
reported in net interest income and
non-interest
income and provision for income taxes for the year ended October 31, 2024 amounting to $55 to arrive at the amounts reported in the Consolidated Statement of Income, differences in the actual amount of costs incurred and charged to the operating segments.
(
3
)
Interest income is reported net of interest expense as management relies primarily on net interest income as a performance measure.
(
4
)
Card revenues and Banking services fees are mainly earned in Canadian and International Banking. Mutual fund, Brokerage fees and Investment management and trust fees are primarily earned in Global Wealth Management. Underwriting and other advisory fees are predominantly earned in Global Banking and Markets.
(
5
)
Includes net income (on a taxable equivalent basis) from investments in associated corporations for Canadian Banking – $(9); International Banking – $130; and Other – $77.
(
6
)
Includes impairment charge on software and other intangible assets in the Other segment.
Summary of Bank's Financial Results by Geographic Region
The following table summarizes the Bank’s financial results by geographic region.
 
For the year ended October 31, 2025
($ millions)		  
Canada
    
United
States
    
Mexico
    
Peru
    
Chile
    
Colombia
    
Caribbean and
Central America
    
Other
International
    
Total
  
Net interest income
  
$
 11,378
 
  
$
799
 
  
$
 2,405
 
  
$
 1,334
 
  
$
 1,993
 
  
$
717
 
  
$
1,931
 
  
$
965
 
  
$
21,522
 
Non-interest
income
(1)
  
 
9,352
 
  
 
2,165
 
  
 
1,014
 
  
 
588
 
  
 
571
 
  
 
479
 
  
 
1,295
 
  
 
755
 
  
 
16,219
 
Total revenues
(2)
  
 
20,730
 
  
 
2,964
 
  
 
3,419
 
  
 
1,922
 
  
 
2,564
 
  
 
 1,196
 
  
 
 3,226
 
  
 
 1,720
 
  
 
 37,741
 
Provision for credit losses
  
 
2,338
 
  
 
67
 
  
 
552
 
  
 
368
 
  
 
748
 
  
 
378
 
  
 
196
 
  
 
67
 
  
 
4,714
 
Non-interest
expenses
  
 
13,660
 
  
 
1,591
 
  
 
1,822
 
  
 
885
 
  
 
1,168
 
  
 
750
 
  
 
1,508
 
  
 
1,134
 
  
 
22,518
 
Income tax expense
  
 
1,532
 
  
 
189
 
  
 
264
 
  
 
126
 
  
 
79
 
  
 
38
 
  
 
450
 
  
 
73
 
  
 
2,751
 
Net income
  
 
3,200
 
  
 
1,117
 
  
 
781
 
  
 
543
 
  
 
569
 
  
 
30
 
  
 
1,072
 
  
 
446
 
  
 
7,758
 
Net income attributable to
non-controlling
interests in subsidiaries
  
 
(200
) 
  
 
–
 
  
 
23
 
  
 
7
 
  
 
7
 
  
 
9
 
  
 
123
 
  
 
–
 
  
 
(31
) 
Net income attributable to equity holders of the Bank
  
$
3,400
 
  
$
 1,117
 
  
$
758
 
  
$
536
 
  
$
562
 
  
$
21
 
  
$
949
 
  
$
446
 
  
$
7,789
 
Total average assets ($ billions)
  
$
899
 
  
$
237
 
  
$
60
 
  
$
29
 
  
$
55
 
  
$
14
 
  
$
38
 
  
$
133
 
  
$
1,465
 
Total average liabilities ($billions)
  
$
889
 
  
$
187
 
  
$
55
 
  
$
22
 
  
$
50
 
  
$
14
 
  
$
35
 
  
$
127
 
  
$
1,379
 
 
(1)
Includes net income from investments in associated corporations for Canada – $(12), United States – $362, Mexico – $9, Peru – $4, Chile – $7, Caribbean and Central America – $132, and Other International – $106.
(2)
Revenues are attributed to countries based on where services are performed or assets are recorded.
 
 
For the year ended October 31, 2024
(1)

($ millions)		  
Canada
    
United
States
    
Mexico
    
Peru
    
Chile
    
Colombia
    
Caribbean and
Central America
    
Other
International
    
Total
  
Net interest income
   $ 9,207     $ 664     $ 2,397     $ 1,422     $ 2,020     $ 690     $ 1,842     $ 1,010     $ 19,252  
Non-interest
income
(2)
     8,535       1,578       1,032       546       455       486       1,180       606       14,418  
Total revenues
(3)
      17,742        2,242        3,429        1,968        2,475        1,176        3,022        1,616        33,670  
Provision for credit losses
     1,701       28       380       501       626       561       150       104       4,051  
Non-interest
expenses
     11,207       1,309       1,867       869       1,143       794       1,454       1,052       19,695  
Income tax expense
     1,002       146       280       140       119       (49 )      303       91       2,032  
Net income
     3,832       759       902       458       587       (130 )      1,115       369       7,892  
Net income attributable to
non-controlling
interests in subsidiaries
     –       –       24       3       42       (50 )      115       –       134  
Net income attributable to equity holders of the Bank
   $ 3,832     $ 759     $  878     $ 455     $ 545     $ (80 )    $ 1,000     $ 369     $ 7,758  
Total average assets ($ billions)
   $ 874     $ 218     $ 64     $ 27     $ 56     $ 14     $ 35     $ 131     $ 1,419  
Total average liabilities ($billions)
   $ 854     $ 189     $ 59     $ 21     $ 53     $ 14     $ 32     $ 116     $ 1,338  
 
(1)
Effective Q1 2025, changes were made to the methodology used to allocate certain income, expenses and balance sheet items between business segments. Prior period results for each segment have been reclassified to conform with the current period’s methodology.
(2)
Includes net income from investments in associated corporations for Canada – $(68), Mexico – $11, Peru – $4, Chile – $6, Caribbean and Central America – $109, and Other International – $136.
(3)
Revenues are attributed to countries based on where services are performed or assets are recorded.