Bank of Nova Scotia stock gets higher Canadian prime rate

Scotiabank raised its Canadian-dollar prime lending rate on Thursday, October 29, after announcing the change on Wednesday, October 28. The bank said in its official release that the rate moved from 4.45 percent to 4.70 percent.

Higher benchmark for Canadian lending

The prime rate is used to price a range of Canadian-dollar lending products. The adjustment therefore affects the terms applied to variable-rate credit, including products linked directly to Scotiabank's prime benchmark.

For Scotiabank, the change is relevant to the balance between loan pricing and funding costs. A higher lending benchmark can support interest income on eligible loans, while the effect on margins depends on how deposit and other funding costs respond. The release itself does not provide a forecast for earnings or net interest margin, so the rate move is best treated as an operating signal rather than a standalone profit outlook.

Stock context and next milestone

Bank of Nova Scotia stock traded at 85.17 euros on Lang & Schwarz at 10:31:25 CET on Friday, October 30, 2026. The quote provides the latest available European trading indication for the share, while the rate announcement supplies the latest company-specific lending development.

Investors will next focus on Scotiabank's fourth-quarter results, scheduled for December 2, 2026. Those figures should show whether changes in loan pricing, funding costs and credit demand are translating into the bank's reported performance.

The real-time quote of Bank of Nova Scotia stock remains available for investors following the Canadian bank.

Canadian equities are tracked through the S&P/TSX Composite market environment.

More news and analyses on Bank of Nova Scotia stock.