Scotiabank flags CAD 55 million Q4 hit for Bank of Nova Scotia stock

Published on 10/23/2026 at 11:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Scotiabank expects CAD 96 million from KeyCorp in Q4 2026. Bank of Nova Scotia stock trades at EUR 83.21 on October 23, 2026, while a CAD 55 million tax hit is expected.

Q4 earnings carry mixed effects

Scotiabank expected CAD 96 million from KeyCorp on October 21, 2026.
A Chilean tax adjustment is expected to reduce fourth-quarter earnings by CAD 55 million.
Bank of Nova Scotia stock trades at EUR 83.21 at 11:30 a.m. CEST at Lang & Schwarz on October 23, 2026.

BNS, CA0641491075, Illustration mit AI erstellt.

Bank of Nova Scotia (ISIN CA0641491075) was trading at EUR 83.21 at Lang & Schwarz on October 23, 2026 at 11:30 a.m. CEST. The bank said on October 21 that KeyCorp should contribute CAD 96 million to fourth-quarter net income, while a Chilean tax adjustment is expected to reduce reported and adjusted earnings by CAD 55 million, according to Scotiabank.

KeyCorp income meets a tax charge

The KeyCorp contribution is based on the U.S. lender's third-quarter earnings and is recognized with a one-month lag. After adjusting for CAD 8 million of acquired-intangible amortization, the adjusted contribution is expected to reach CAD 104 million, according to Scotiabank's October 21 release.

The offset is a one-time deferred tax asset write-down linked to Chile's approved 4 percentage-point corporate tax-rate reduction to 23 percent. Scotiabank said the charge is expected to affect both the bank and its International Banking segment in the fourth quarter.

Three milestones shape the picture

On August 25, 2026, Scotiabank reported third-quarter earnings per share of CAD 2.28 and revenue of CAD 10.54 billion, according to MarketBeat. On October 2, the bank announced regulatory approval to expand its normal-course issuer bid from 15 million to 40 million common shares, with the larger authorization effective October 6.

The October 21 KeyCorp and Chile update is the latest of the three dated developments. It gives investors a positive earnings contribution and a separate tax-related deduction to weigh before the next report.

When are the next results due?

Scotiabank will release its fourth-quarter results and host an earnings call on December 2, 2026, according to the October 21 company release. That date is the next scheduled reporting event identified in the release.

What does the tax charge mean?

The CAD 55 million reduction is a one-time item, while the CAD 96 million KeyCorp contribution is tied to an underlying earnings period and includes acquisition-related accounting effects. The adjusted KeyCorp figure of CAD 104 million therefore provides the cleaner operating comparison, although it remains subject to the bank's stated forward-looking risks.

Stock price and investor context

Scotiabank operates across Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets. Its assets totaled CAD 1.55 trillion on July 31, 2026, based on standardized financial data, while its latest reported net income attributable to common shareholders was CAD 2.78 billion for the third quarter of fiscal 2026.

Bank of Nova Scotia stock was trading at EUR 83.21 at Lang & Schwarz on October 23, 2026 at 11:30 a.m. CEST. The bank is listed on the Toronto Stock Exchange and the New York Stock Exchange under BNS, as stated in the October 21 release. The further course of trading is shown by the continuously updated real-time quote of Bank of Nova Scotia stock.