Scotiabank flags CAD 55 million tax hit for BNS stock news

Published on 10/22/2026 at 12:06 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Scotiabank flags a CAD 55 million tax hit for Q4 2026. Bank of Nova Scotia stock costs EUR 83.30 on October 22, 2026.

Scotiabank flags CAD 55 million tax hit. Bank of Nova Scotia stock costs EUR 83.30 on October 22, 2026.

BNS, CA0641491075, Illustration mit AI erstellt.

Bank of Nova Scotia (CA0641491075) said on October 21, 2026, that a Chilean tax change could reduce reported and adjusted fourth-quarter earnings by CAD 55 million. The bank also expects a CAD 96 million contribution from its ownership interest in KeyCorp, or CAD 104 million after adjusting for acquired-intangible amortization, according to Scotiabank.

Q4 earnings carry two offsets

The bank said the KeyCorp contribution represents its share of the U.S. bank's third-quarter net income, reported with a one-month lag and after associated funding costs. The adjusted amount is higher because it excludes CAD 8 million of acquired-intangible amortization, while the Chilean tax change creates a separate CAD 55 million reduction.

For investors, the mix matters because the contribution and the tax charge affect the same fourth-quarter reporting period in opposite directions. Scotiabank's disclosure describes the tax effect as a one-time deferred tax asset write-down linked to a four-percentage-point reduction in Chile's corporate tax rate to 23 percent.

Three dated corporate signals

On September 22, 2026, Scotiabank priced CAD 750 million of Canadian Defence Notes, its first offering under the related issuance framework, according to Scotiabank. On October 2, 2026, it announced an amended normal course issuer bid allowing repurchases of up to 40 million common shares, also listed by Scotiabank. The October 21, 2026 disclosure added the CAD 96 million KeyCorp contribution, CAD 104 million adjusted contribution and CAD 55 million tax impact.

What dates shape the next report?

Scotiabank said its fourth-quarter results and earnings call are scheduled for December 2, 2026, in the October 21 release. The bank's common-share dividend is scheduled for payment on October 28, 2026, to shareholders of record at the close of business on October 6, 2026, according to Scotiabank.

Stock price and reporting focus

The immediate focus is the balance between the KeyCorp contribution and the Chilean tax charge. The December report will show how those items flow through reported and adjusted earnings.

Bank of Nova Scotia was trading at EUR 83.30 at Lang & Schwarz on October 22, 2026 at 12:03 p.m. CEST. The bank trades on the Toronto Stock Exchange and New York Stock Exchange under BNS, according to its October 21 release. The further course of trading is shown by the continuously updated real-time quote of Bank of Nova Scotia stock.