XML 125 R73.htm IDEA: XBRL DOCUMENT v3.25.3
Principal Subsidiaries and Non-Controlling Interests in Subsidiaries (Tables)
 12 Months Ended
Oct. 31, 2025
Text Block [Abstract]  
Summary of Subsidiaries
The following table presents certain operating subsidiaries the Bank owns, directly or indirectly. All of these subsidiaries are included in the Bank’s consolidated financial statements.
 
        
Carrying value of shares
  
As at October 31 ($ millions)  
Principal office
  
2025
    
2024
  
Canadian
      
Scotia Capital Inc.
   Toronto, Ontario  
$
4,694
 
   $ 4,160  
BNS Investments Inc.
   Toronto, Ontario  
 
 22,545
 
      23,860  
1832 Asset Management L.P.
   Toronto, Ontario    
Montreal Trust Company of Canada
   Montreal, Quebec    
MD Financial Management Inc.
   Ottawa, Ontario  
 
2,939
 
     2,826  
Jarislowsky, Fraser Limited
   Montreal, Quebec  
 
974
 
     956  
Scotia Securities Inc.
   Toronto, Ontario  
 
69
 
     73  
Tangerine Bank
   Toronto, Ontario  
 
3,711
 
     4,154  
The Bank of Nova Scotia Trust Company
   Toronto, Ontario  
 
764
 
     704  
Scotia Mortgage Corporation
   Toronto, Ontario  
 
606
 
     843  
National Trust Company
   Stratford, Ontario  
 
499
 
     408  
Roynat Inc.
   Calgary, Alberta  
 
785
 
     741  
Scotia Dealer Advantage Inc.
   Hamilton, Ontario  
 
977
 
     924  
International
      
Scotia Holdings (USA) LLC
   New York, New York  
 
7,698
 
     7,654  
Scotia Capital (USA) Inc.
   New York, New York    
Scotia Financing (USA) LLC
   New York, New York    
Nova Scotia Inversiones Limitada
   Santiago, Chile  
 
7,370
 
     7,489  
Scotiabank Chile S.A. (99.79%)
   Santiago, Chile    
Grupo Financiero Scotiabank Inverlat, S.A. de C.V. (97.39%)
   Mexico City, Mexico  
 
8,821
 
     6,966  
Scotiabank Inverlat, S.A.
   Mexico City, Mexico    
Scotia Peru Holdings S.A.
   Lima, Peru  
 
6,920
 
     5,779  
Scotiabank Peru S.A.A. (99.31%)
   Lima, Peru    
Multiacciones S.A.S.
(2)
   Bogota, Colombia  
 
424
 
     973  
Scotiabank Colpatria, S.A.
(56.00%)
(2)(3)
   Bogota, Colombia    
Scotiabank Brasil S.A. Banco Multiplo
   Sao Paulo, Brazil  
 
1,142
 
     796  
Scotia Uruguay Holdings S.A.
   Montevideo, Uruguay  
 
757
 
     681  
Scotiabank Uruguay S.A.
   Montevideo, Uruguay    
Scotiabank Republica Dominicana, S.A. – Banco Multiple (99.80%)
   Santo Domingo, Dominican Republic  
 
823
 
     943  
Scotiabank Caribbean Holdings Ltd.
   Bridgetown, Barbados  
 
1,966
 
     1,608  
Scotia Group Jamaica Limited (71.78%)
   Kingston, Jamaica    
Scotiabank Trinidad and Tobago Limited (50.90%)
   Port of Spain, Trinidad and Tobago    
Scotiabank (Barbados) Limited
   Bridgetown, Barbados  
 
286
 
     237  
BNS International (Bahamas) Limited
   Nassau, Bahamas  
 
10,612
 
     11,180  
The Bank of Nova Scotia Trust Company (Bahamas) Limited
   Nassau, Bahamas    
Scotiabank (Bahamas) Limited
   Nassau, Bahamas    
Scotiabank & Trust (Cayman) Ltd.
   Grand Cayman, Cayman Islands    
Grupo BNS de Costa Rica, S.A.
(2)
   San Jose, Costa Rica    
Scotiabank (Ireland) Designated Activity Company
   Dublin, Ireland  
 
 
 
  
 
 
 
 
(1)
The Bank (or immediate parent of an entity) owns 100% of the outstanding voting shares of each subsidiary unless otherwise noted.
(2)
In Q1 2025, the Bank entered into an agreement to sell its banking operations in Colombia, Costa Rica and Panama to Davivienda. The transaction was completed on December 1, 2025. Refer to Note 35 for details.
(3)
The Bank made a capital contribution to Scotiabank Colpatria S.A. in May 2025 which increased its ownership interest to 56.00% following the subsequent issuance of additional shares.
Summary of Non-controlling Interests
The Bank’s significant
non-controlling
interests in subsidiaries are comprised of the following entities:
 
   
As at and for the year ended
  
           
2025
    
2024
  
    
Non-controlling

interest %
    
Non-controlling

interests in
subsidiaries
    
Dividends
paid to
non-controlling

interest
    
Non-controlling

interests in
subsidiaries
    
Dividends paid to
non-controlling

interest
  
Scotiabank Chile S.A.
  
 
0.20% – 49.10
% 
  
$
262
 
  
$
8
 
   $ 256     $ 24  
Scotiabank Colpatria S.A.
(1)
  
 
44.00% – 47.00
% 
  
 
323
 
  
 
–
 
     405       –  
Scotia Group Jamaica Limited
  
 
28.22
% 
  
 
379
 
  
 
14
 
     350       13  
Scotiabank Trinidad and Tobago Limited
  
 
49.10
% 
  
 
491
 
  
 
51
 
     464       49  
Other
  
 
0.0005% – 49.35
%
(2)
 
  
 
266
 
  
 
9
 
     232       2  
Total
  
 
 
 
  
$
 1,721
 
  
$
 82
 
   $  1,707     $  88  
 
(1)
Non-controlling
interest holders for Scotiabank Colpatria S.A. have a right to sell their holding to the Bank after the end of the 7th anniversary (January 17, 2019) and at subsequent
pre-agreed
intervals, into the future, at fair market value that can be settled at the Bank’s discretion, by issuance of common shares or cash.
(2)
Range of
non-controlling
interest % for other subsidiaries.
Summary of financial information of Bank's subsidiaries with significant non-controlling interests
Summarized financial information of the Bank’s subsidiaries with significant
non-controlling
interests are as follows:
 
   
As at and for the year ended October 31, 2025
    
As at and for the year ended October 31, 2024
  
($ millions)  
Revenue
    
Total
comprehensive
income (loss)
    
Total assets
    
Total
liabilities
    
Revenue
    
Total
comprehensive
income (loss)
    
Total assets
    
Total
liabilities
  
Total
  
$
 4,522
 
  
$
 602
 
  
$
 95,993
 
  
$
 84,493
 
   $  4,455     $  226     $  93,051     $  82,223