El Banco de Nova Scotia (BNS): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el plan estratégico del Banco de Nueva Escocia (BNS), una potencia financiera que ha creado magistralmente su modelo de negocio para navegar por el complejo panorama de la banca moderna. Desde plataformas digitales innovadoras hasta asociaciones globales sólidas, BNS demuestra cómo un banco tradicional puede transformarse en una institución financiera dinámica y centrada en el cliente que combina sin problemas la destreza tecnológica con soluciones financieras personalizadas en diversos segmentos de mercado.

The Bank of Nova Scotia (BNS) - Modelo de negocios: asociaciones clave

Alianzas estratégicas con empresas de tecnología financiera global

El Banco de Nueva Escocia ha establecido asociaciones con las siguientes empresas clave de tecnología financiera:

Pareja	Enfoque de asociación	Año establecido
Visa Inc.	Procesamiento de pagos y redes de tarjetas de crédito	2018
MasterCard Incorporated	Infraestructura de pago global	2017
Asociación interac	Servicios de red de débito canadiense	2015

Asociaciones con proveedores de seguros canadienses e internacionales

BNS mantiene asociaciones de seguro estratégico:

• Manulife Financial Corporation
• Sun Life Financial Inc.
• Canadá Life Limited
• Corporación financiera intacta

Colaboración con Startups de FinTech para la innovación bancaria digital

Inversión de BNS en asociaciones fintech:

Inicio de fintech	Monto de la inversión	Enfoque tecnológico
Nuvei Corporation	$ 25 millones	Tecnologías de procesamiento de pagos
ClearBanc	$ 15 millones	Plataformas de préstamos digitales

Relaciones con las principales redes de tarjetas de crédito y procesadores de pago

Las asociaciones de la red de pago de BNS incluyen:

• Redes de pago globales: Visa, MasterCard, American Express
• Redes de pago canadienses: Interac, Apple Pay, Google Pay
• Procesadores de pagos internacionales: PayPal, cuadrado, raya

El Banco de Nueva Escocia (BNS) - Modelo de negocio: actividades clave

Servicios bancarios comerciales y personales

Activos de banca comercial total: CAD 388 mil millones a partir del cuarto trimestre de 2023. La cartera de banca personal incluye 10.3 millones de clientes canadienses. Valor promedio de la cartera de préstamos: CAD 272 mil millones.

Servicio bancario	Volumen de transacción anual	Cuota de mercado
Préstamos comerciales	CAD 124.6 mil millones	18.3%
Préstamo hipotecario	CAD 213.4 mil millones	15.7%
Tarjetas de crédito personal	CAD 8.2 mil millones	22.1%

Inversión y gestión de patrimonio

Activos totales bajo administración: CAD 453 mil millones. Productos de inversión administrados: 127 fondos distintos.

• Clientes de gestión de patrimonio: 1.2 millones
• Valor de la cartera promedio: CAD 375,000
• Equipo de asesoramiento de inversiones: 2.400 profesionales

Desarrollo de la plataforma de banca digital

Transacciones bancarias digitales: 2.100 millones de transacciones anuales. Usuarios de banca móvil: 4.7 millones.

Canal digital	Usuarios activos mensuales	Volumen de transacción
Aplicación de banca móvil	3.6 millones	1.400 millones
Banca en línea	4.2 millones	680 millones

Gestión de riesgos y asesoramiento financiero

Presupuesto de gestión de riesgos: CAD 172 millones. Equipo de cumplimiento: 1.100 profesionales.

• Sistemas de monitoreo de riesgos de crédito
• Mecanismos de detección de fraude
• Seguimiento de cumplimiento regulatorio

Operaciones internacionales de banca y financiamiento comercial

Presencia bancaria internacional: 32 países. Volumen financiero comercial: CAD 87.6 mil millones.

Región	Número de ramas	Valor de transacción anual
América Latina	287	CAD 42.3 mil millones
caribe	134	CAD 22.7 mil millones
Asia-Pacífico	56	CAD 22.6 mil millones

El Banco de Nueva Escocia (BNS) - Modelo de negocio: recursos clave

Red de sucursal extensa

A partir de 2023, el Banco de Nueva Escocia opera:

Ubicación	Número de ramas
Canadá	900
Mercados internacionales	2,500
Presencia global total	3,400

Infraestructura de tecnología de banca digital

Detalles de la inversión tecnológica:

• Gasto de tecnología anual: $ 1.2 mil millones
• Plataforma de banca digital: infraestructura basada en la nube
• Presupuesto de ciberseguridad: $ 350 millones anuales

Capital financiero y liquidez

Métrica financiera	Cantidad (2023)
Activos totales	$ 1.04 billones
Relación de capital de nivel 1	14.2%
Activo líquido	$ 250 mil millones

Composición de la fuerza laboral

Recursos humanos Profile:

Categoría	Número
Total de empleados	92,000
Empleados con títulos financieros avanzados	67%
Profesionales de la tecnología	15,000

Datos y análisis del cliente

• Cuentas totales de clientes: 25 millones
• Inversión de análisis de datos: $ 275 millones anuales
• Modelos de aprendizaje automático: 140 modelos predictivos activos

El Banco de Nueva Escocia (BNS) - Modelo de negocio: propuestas de valor

Soluciones financieras integrales para diversos segmentos de clientes

El Banco de Nueva Escocia proporciona soluciones financieras en múltiples segmentos de clientes con las siguientes métricas clave:

Segmento de clientes	Total de clientes	Penetración del mercado
Banca personal	9.4 millones	37.2%
Banca comercial	375,000 negocios	22.6%
Gestión de patrimonio	2.1 millones de inversores	16.8%

Experiencias bancarias personalizadas

Rendimiento de los canales bancarios digitales:

• Usuarios de banca móvil: 4.2 millones
• Transacciones bancarias en línea: 1.300 millones anuales
• Tasa de crecimiento de la transacción digital: 18.6% año tras año

Tasas de interés competitivas y ofertas de productos financieros

Producto	Tasa de interés	Comparación de mercado
Cuenta de ahorros	3.75%	+0.25% por encima del promedio de la industria
Tasas hipotecarias	5.49%	-0.15% por debajo de las tasas de la competencia
Préstamos personales	6.25%	Posicionamiento competitivo del mercado

Servicios integrados de gestión de patrimonio e inversión

Rendimiento de la cartera de gestión de patrimonio:

• Activos totales bajo administración: $ 441 mil millones
• Diversidad de productos de inversión: 127 fondos diferentes
• Retorno promedio de la cartera: 7.3%

Trust del cliente y seguridad financiera

Seguridad y métricas de confianza:

• Inversión de ciberseguridad: $ 187 millones anuales
• Tasa de éxito de prevención de fraude: 99.2%
• Calificación de satisfacción del cliente: 4.6/5

The Bank of Nova Scotia (BNS) - Modelo de negocios: relaciones con los clientes

Servicio al cliente personalizado a través de múltiples puntos de contacto

El Banco de Nueva Escocia mantiene 2.200 sucursales en Canadá e internacionalmente. En 2023, el banco reportó 25.1 millones de clientes activos de banca digital. Los canales de interacción del cliente incluyen:

• Red de sucursales físicas
• Plataformas de banca en línea
• Aplicaciones de banca móvil
• Centros de banca telefónica
• Red de cajeros automáticos con 3.700 máquinas

Plataformas de banca digital con atención al cliente 24/7

Servicio digital	Usuarios activos	Disponibilidad de servicio
Aplicación de banca móvil	15.6 millones de usuarios	Acceso 24/7
Plataforma bancaria en línea	18.3 millones de usuarios	Acceso 24/7
Centro de atención al cliente	Soporte de idiomas múltiples	Operación de horas extendidas

Programas de fidelización y banca basada en relaciones

El programa de recompensas de Scotia ofrece el 1% de reembolso en las compras, con 25,000 participantes activos del programa en 2023. El programa de recompensas de tarjetas de crédito proporciona beneficios múltiples basados ​​en niveles.

Gerentes de relaciones dedicadas para clientes corporativos y de alto nivel de red

BNS atiende a 4.500 clientes corporativos con equipos especializados de gestión de relaciones. El segmento de clientes de alto nivel de red incluye personas con activos invertibles de $ 1 millón+, administrados por 780 gerentes de relaciones dedicadas.

Comunicación proactiva y servicios de asesoramiento financiero

Servicio de asesoramiento	Segmento de clientes	Interacciones anuales
Planificación financiera personalizada	Individuos de alto nivel de red	3-4 revisiones completas
Consulta de inversión	Clientes de gestión de patrimonio	Revisiones de cartera trimestrales
Ideas financieras digitales	Todos los clientes bancarios digitales	Informes automatizados mensuales

The Bank of Nova Scotia (BNS) - Modelo de negocios: canales

Red de sucursales físicas

A partir de 2023, el Banco de Nueva Escocia opera 900 sucursales en todo Canadá. La presencia de la sucursal internacional incluye 1,500 ubicaciones en 50 países, principalmente en América Latina y el Caribe.

Región	Número de ramas
Canadá	900
Internacional	1,500

Plataformas de banca en línea

La plataforma digital de Scotiabank atiende a 4.3 millones de usuarios de banca en línea activos en Canadá a partir de 2023.

• Accesibilidad a la plataforma web: 24/7
• Volumen de transacción digital: 78% de las interacciones totales del cliente
• Tasa de crecimiento del usuario en línea: 12% año tras año

Aplicaciones de banca móvil

Las descargas de aplicaciones de banca móvil alcanzaron 2.9 millones de usuarios únicos en 2023.

Plataforma	Usuarios activos mensuales
iOS	1.6 millones
Androide	1.3 millones

Redes de cajeros automáticos

Scotiabank mantiene 3,400 cajeros automáticos en los mercados de Canadá e internacional.

• Transacciones de cajeros automáticos totales en 2023: 127 millones
• Valor promedio de transacción de cajero automático: $ 425 millones

Centros de llamadas y servicios de banca telefónica

Los centros de servicio al cliente procesan aproximadamente 6.2 millones de interacciones con el cliente anualmente.

Canal de servicio	Volumen de interacción anual
Banca telefónica	3.8 millones
Soporte al cliente	2.4 millones

El Banco de Nueva Escocia (BNS) - Modelo de negocios: segmentos de clientes

Clientes de banca minorista

A partir de 2024, el Banco de Nueva Escocia atiende a aproximadamente 25 millones de clientes bancarios minoristas en todo Canadá. La base de clientes minoristas del banco incluye:

Categoría de clientes	Número de clientes
Banca personal	22.3 millones
Usuarios bancarios digitales	15.7 millones
Usuarios de banca móvil	12.5 millones

Empresas pequeñas y medianas

BNS admite aproximadamente 450,000 pequeñas y medianas empresas (PYME) en sus mercados operativos.

• Portafolio de préstamos Total SME: $ 78.4 mil millones
• Tamaño promedio del préstamo: $ 325,000
• Sectores de la industria atendidos:
  • Minorista
  • Fabricación
  • Servicios profesionales
  • Tecnología

Grandes clientes corporativos

El banco atiende a aproximadamente 3,200 grandes clientes corporativos con necesidades financieras complejas.

Segmento corporativo	Valor total de la relación bancaria
Cartera de banca corporativa	$ 245 mil millones
Valor promedio del cliente corporativo	$ 76.5 millones

Individuos de alto nivel de red

BNS administra la riqueza para aproximadamente 350,000 individuos de alto patrimonio.

• Activos totales de gestión de patrimonio: $ 387 mil millones
• Valor promedio de la cartera: $ 1.1 millones
• Niveles de servicio de gestión de patrimonio:
  • Banca privada
  • Aviso de inversión
  • Planificación de patrimonio

Clientes bancarios internacionales

El Banco de Nueva Escocia opera en 50 países, sirviendo a clientes bancarios internacionales.

Región geográfica	Número de clientes internacionales
América Latina	1.2 millones
caribe	850,000
Otros mercados internacionales	650,000

El Banco de Nueva Escocia (BNS) - Modelo de negocio: Estructura de costos

Mantenimiento de la infraestructura tecnológica

En el año fiscal 2023, BNS gastó $ 1.2 mil millones en tecnología e inversiones de infraestructura digital. Los costos anuales de mantenimiento de la tecnología fueron de aproximadamente $ 487 millones.

Categoría de costos tecnológicos	Gasto anual
Plataforma de banca digital	$ 276 millones
Infraestructura de ciberseguridad	$ 112 millones
Servicios de computación en la nube	$ 99 millones

Salarios y beneficios de los empleados

La compensación total de los empleados para 2023 fue de $ 4.8 mil millones, lo que representa el 32% de los gastos operativos.

• Salario promedio de empleados: $ 95,600
• Fuerza laboral total: 92,119 empleados
• Asignación de beneficios: 18% de la compensación total

Gastos operativos de la red de sucursales

Los costos operativos de la red de sucursales en 2023 totalizaron $ 1.3 mil millones, con 1,100 sucursales físicas en múltiples países.

Categoría de gastos operativos	Costo anual
Alquiler e instalaciones	$ 612 millones
Utilidades	$ 214 millones
Mantenimiento de ramas	$ 474 millones

Cumplimiento regulatorio y gestión de riesgos

Los gastos de cumplimiento y gestión de riesgos para 2023 fueron de $ 689 millones.

• Personal legal y de cumplimiento: 1.247 empleados
• Sistemas de informes regulatorios: $ 156 millones
• Infraestructura contra el lavado de dinero: $ 87 millones

Costos de marketing y adquisición de clientes

Los gastos de marketing en 2023 alcanzaron $ 342 millones, con los costos de adquisición de clientes con un promedio de $ 187 por cliente nuevo.

Canal de marketing	Gasto anual
Marketing digital	$ 124 millones
Medios tradicionales	$ 86 millones
Patrocinios y eventos	$ 132 millones

The Bank of Nova Scotia (BNS) - Modelo de negocios: flujos de ingresos

Ingresos por intereses de préstamos e hipotecas

Para el año fiscal 2023, el Banco de Nueva Escocia reportó ingresos por intereses netos de CAD 12.7 mil millones. Desglose de la cartera de préstamos:

Categoría de préstamo	Valor total (CAD mil millones)
Hipotecas residenciales	228.4
Préstamos personales	87.6
Préstamos comerciales	195.3

Tarifas de banca de inversión y asesoramiento

Los ingresos de la banca de inversión para 2023 totalizaron CAD 1.2 mil millones, con segmentos clave que incluyen:

• Aviso de fusiones y adquisiciones: CAD 412 millones
• Servicios de suscripción: CAD 538 millones
• Aviso de finanzas corporativas: CAD 250 millones

Ingresos de la transacción de la tarjeta de crédito

Los ingresos por transacciones de la tarjeta de crédito para 2023 alcanzaron CAD 876 millones, con el siguiente desglose:

Fuente de ingresos	Cantidad (CAD millones)
Tarifas de intercambio	523
Tarifas de tarjeta anual	203
Tarifas de pago tardías	150

Cargos de servicio de gestión de patrimonio

Los ingresos por servicios de gestión de patrimonio para 2023 totalizaron CAD 1.500 millones, que incluyen:

• Tarifas de gestión de activos: CAD 892 millones
• Servicios de planificación financiera: CAD 348 millones
• Tarifas de asesoramiento de inversiones: CAD 260 millones

Tarifas de transacciones bancarias internacionales

Los ingresos por transacciones bancarias internacionales para 2023 ascendieron a CAD 1.100 millones, distribuidos en todo:

Tipo de transacción	Ingresos (CAD millones)
Transacciones transfronterizas	456
Servicios de divisas	387
Transferencias de alambre internacionales	257

The Bank of Nova Scotia (BNS) - Canvas Business Model: Value Propositions

Full-service banking for retail, commercial, and corporate clients

• Canadian Banking provides a full suite of financial advice and banking solutions to over 11 million customers.
• Retail deposits and investments have grown at a 6% compound annual growth rate over the last two years.
• The Mortgage+ program saw 30% of new clients open a Scotiabank credit card.
• 95% of new Mortgage+ clients retained their day-to-day accounts after one year.

North American trade and payment corridor expertise

• Half of Global Banking & Markets earnings now come from the United States in fiscal 2025.
• A new cash-management platform brought in 15,000 corporate clients in 2025.

Specialized wealth management and private banking advice

• Global Wealth Management earnings increased 17% for the full fiscal year 2025.
• Assets under management grew 16% to $430 billion for the full year 2025.
• Assets under administration rose 13% to almost $800 billion for the full year 2025.
• In Q3 2025, assets under management climbed to $407 billion, a 12% year-over-year increase.

Digital-first, low-cost banking through Tangerine

• Tangerine Bank ranks highest among midsize banks for customer satisfaction in the JD Power 2025 Canada Retail Banking Satisfaction Study.
• Tangerine's Loan-to-Deposit Ratio (LDR) decreased to 21% in FY2023.

Global Banking and Markets access for large-scale projects

The performance of the Global Banking and Markets segment in fiscal 2025 shows significant growth, particularly in the fourth quarter.

Metric	Full Year 2025 Value	Q4 2025 Value	Year-over-Year Growth
Earnings	$1.9 billion	$519 million	30% (Full Year); 50% (Q4)
Revenue	N/A	N/A	24% (Revenue); 49.5% (Revenue Jump)
Q2 2025 Earnings	N/A	$412 million	10%

• The revenue increase was thanks to a 43% jump in trading and advisory fees.

The Bank of Nova Scotia (BNS) - Canvas Business Model: Customer Relationships

You're looking at how The Bank of Nova Scotia (BNS) connects with its clients as of late 2025, focusing on deep engagement over sheer numbers.

Dedicated Relationship Managers for commercial and wealth clients

Global Wealth Management (GWM) is explicitly growing the number of relationship managers across its Private Bank and ScotiaMcLeod operations to build deeper, more advice-driven client relationships. This segment serves over 2 million investment fund and advisory clients across 12 countries. GWM saw strong momentum, with adjusted earnings up 17% year-over-year in the second quarter of 2025, and assets under management (AUM) growing 16% year-over-year to $430 billion by the end of the fourth quarter of 2025. In the first quarter of 2025, GWM adjusted earnings were up 22% year-over-year, with AUM at $396 billion.

Metric	Value (Late 2025)	Context
Global Wealth Management AUM	$430 billion	As of Q4 2025
Global Wealth Management Clients	Over 2 million	Across 12 countries
GWM Adjusted Earnings Growth (Q2 2025 YoY)	17%	Reflecting strong revenue growth
Internal Referrals (Retail to Wealth, Full Year)	$8.1 billion	Up 20% year-over-year

Self-service digital platforms and mobile apps

The Bank of Nova Scotia is executing a strategy to be a 'digitally forward bank' that blends its branch network with mobile service capabilities. Industry-wide, 72% of global banking customers prefer using mobile apps for core banking services as of 2025. In the United States, approximately 83% of adults used digital banking services by late 2025. The bank's Tangerine Bank is its established digital-only offering, and the broader bank is focused on delivering innovative digital client experiences.

• Mobile apps are the main entry point for all banking services for forward-thinking banks in 2025.
• The most valued mobile banking feature to users is the ability to lock a lost or stolen card, with 83% considering it critical or important.
• The digital banking market size in the US is projected to reach nearly 216.8 million users by 2025.

Focus on earning primary client relationships (value over volume)

The Bank of Nova Scotia is explicitly prioritizing 'value over volume' in its business mix shift. Since its Q4 2023 Investor Day, the bank has added 400,000 new primary clients. Total closed referrals across the entire bank (retail, commercial, and wealth) reached CAD 15 billion for the year, marking an 18% increase over the prior year. This shows a clear metric for deepening relationships, as the bank gets better at converting new clients into actual investors.

Advisory-led model for complex financial needs

The advisory focus is evident in the cross-segment referrals, which are a direct result of clients engaging for complex needs. Global Banking and Markets saw earnings increase by 30% for the full year 2025, supported by a 28% year-to-date growth in underwriting advisory fees. The bank's vision is to be its clients' most trusted financial partner, which is supported by the fact that 78% of first-time homebuyers say a lender's reputation and trustworthiness are critical when choosing a mortgage. Also, 72% of first-time homebuyers believe having all banking products in one place is important.

Automated, personalized digital outreach

The strategy includes building out data and personalization capabilities to accelerate client acquisition. Industry trends for 2025 point to banks introducing AI assistants that serve personalized financial insights and advice through web and mobile apps. Furthermore, 59% of people want digital banking to offer simple tools and resources for learning how to manage money, which aligns with the bank's stated purpose, 'for every future,' translating societal commitment into measurable business drivers.

The Bank of Nova Scotia (BNS) - Canvas Business Model: Channels

You're looking at how The Bank of Nova Scotia (BNS) gets its products and services to its 25 million+ clients worldwide as of late 2025.

The strategy clearly emphasizes the North American corridor-Canada, the US, and Mexico-while maintaining a presence in key international spots, though with increased scrutiny on less profitable Latin American markets.

Physical branch network in Canada and key international markets

The physical footprint in Canada remains substantial, though the bank is clearly prioritizing digital and its North American focus areas.

The Bank of Nova Scotia operates in 20+ countries across the globe. Within Canada, the bank operates in all provinces and territories except Nunavut.

Market/Region	Number of Locations (as of late 2025/latest data)	Percentage of Canadian Locations
Total Scotiabank Locations in Canada	895	100%
Ontario (Canada)	412	46%
British Columbia (Canada)	130	15%
Alberta (Canada)	126	14%
U.S. Ranking (International Market)	Top 10 Foreign Bank Organization (as of Q3 2025)	N/A

The Global Wealth Management segment delivers solutions across 13 countries worldwide.

Digital and mobile banking applications

Digital channels are a core component, evidenced by the growth in user metrics, even if the latest figures are from earlier in 2025 or late 2024.

• Active mobile users reached 4.3 million, showing a 10% year-over-year increase (data as of Q2 2024).
• The digital adoption rate in Canada was 64.5% (data as of Q2 2024).
• The bank offers a self-directed banking solution through its digital-only subsidiary, Tangerine Bank.
• The bank is investing in digital capabilities to grow deposits, funds, cards, and insurance.

Automated Teller Machines (ATMs)

The Bank of Nova Scotia leverages a significant proprietary and alliance-based ATM network for convenient cash access.

Network Type	Number of Machines	Geographic Scope/Notes
Scotiabank ABMs in Canada	Nearly 3,600	Used for cash withdrawal, balance checks, etc.
Global ATM Alliance Partners	Over 44,000	Avoids surcharge fees when travelling outside Canada
ATMs in Mexico	1,800	Part of the priority North American corridor
ATMs in the Caribbean	503	Part of International Banking footprint
ATMs in Central America, Chile, Peru, and Guyana	410	These markets face increased scrutiny for capital allocation

The Bank of Nova Scotia is introducing Intelligent Deposit Machines (IDMs) in 2025 to allow for no-envelope cash and cheque deposits with immediate credit.

Contact centers and specialized advisory teams

Service delivery mixes centralized support with specialized, high-value advice.

• International Banking utilizes a robust network of contact centres.
• Global Wealth Management has industry-leading investment expertise, with its investment teams recognized with 24 awards (latest metric found).
• The bank aims to lead with tailored financial plans and follow with the right products, emphasizing advice over just transactions.

Third-party broker-dealers and financial advisors

Distribution extends beyond direct employees through established networks.

• The bank mentions a 'powerful advisory and distribution network across Canada and Latin America'.
• This network includes channels like Full-Service Brokerage and partnerships related to capital markets activities.
• The bank notes risks associated with the failure of third parties to comply with their obligations.

Finance: draft 13-week cash view by Friday.

The Bank of Nova Scotia (BNS) - Canvas Business Model: Customer Segments

You're looking at the core groups The Bank of Nova Scotia serves across its global footprint as of late 2025. It's a mix, from everyday banking clients to massive institutional players.

Mass-market retail customers (including Tangerine clients)

The Bank of Nova Scotia focuses on building primary client relationships, having added 400,000 new primary clients since launching its new strategy. The Canadian Banking unit, which includes these retail clients, generated adjusted earnings of $3.4 billion for the full year 2025, a decrease of 9%.

• Retail day-to-day and savings deposits grew approximately 6% year-over-year in 2025.
• The Mortgage+ program saw 30% of new clients open a Scotiabank credit card.
• 95% of new Mortgage+ clients retained their day-to-day accounts after one year.
• The bank is acquiring clients in the Small Business segment at approximately twice the market rate.

Small and medium-sized enterprises (SME) and commercial businesses

The commercial side is deeply integrated with the retail segment, evidenced by $15 billion in combined referrals between Retail, Commercial, and Wealth in 2025, an increase of 18% year-over-year.

The overall Canadian Banking segment saw its Q2 2025 adjusted earnings drop to $613 million, down 31% year-over-year, largely due to higher provision for credit losses. Still, the bank is focused on value over volume in these relationships.

High-net-worth individuals and families (Global Wealth Management)

This segment showed strong growth in 2025, with full-year earnings increasing 17% to $1.7 billion. International Wealth specifically saw earnings jump 30% year-over-year in Q4 2025.

You can see the asset scale here:

Metric	Value as of Late 2025 Data Point	Year-over-Year Growth
Spot Assets Under Management (AUM)	$430 billion	16%
Assets Under Administration (AUA)	Almost $800 billion	13%
Q1 2025 AUM	$396 billion	16%

The Q1 2025 adjusted earnings for Global Wealth Management were $416 million, up 22% year-over-year.

Large corporations and institutional investors (Global Banking and Markets)

This business line had a standout year for revenue generation. Full-year earnings were up 30%. The Q4 2025 earnings hit $519 million, a 50% increase compared to the prior year.

Key performance drivers for this segment in fiscal 2025 included:

• Underwriting and advisory fee income: up 37% versus fiscal 2024.
• Trading income: increased 21%.
• Capital markets revenues (Q4 2025): up 43%.

Customers in the North American corridor (Canada, US, Mexico)

The strategic focus on the North American corridor, encompassing Canada, the US, and Mexico, is a key driver for deposit growth. The Canadian Banking unit represents about 40% of The Bank of Nova Scotia's income.

Credit quality in the corridor shows some pressure points, reflected in the overall fiscal 2025 impaired Provision for Credit Losses (PCL) ratio of 54 basis points, which is attributed partly to pressure in parts of Mexico.

The bank also supported 49,700+ women entrepreneurs through its Scotiabank Women Initiative® programs across Canada, Chile, Jamaica, Mexico, Costa Rica, and Peru in 2025.

Finance: draft 13-week cash view by Friday.

The Bank of Nova Scotia (BNS) - Canvas Business Model: Cost Structure

You're looking at the major outflows for The Bank of Nova Scotia (BNS) in its 2025 fiscal year, which is where the rubber meets the road for profitability. The cost structure is dominated by operational expenses and provisions set aside for potential loan defaults.

High non-interest expenses represent a significant drag, totaling C$22.52 billion in 2025. This figure reflects the scale of running a multinational bank across multiple complex jurisdictions.

The cost base is heavily influenced by ongoing strategic spending. You see significant technology and digital investment costs baked into the operating expenses. In the fourth quarter of 2025, overall expenses grew 11% year-over-year, with personnel costs and technology spending explicitly cited as key drivers for that increase.

Personnel costs are a major component, and management signaled a push for efficiency with a C$373 million restructuring charge taken in the fourth quarter of 2025. This charge was tied directly to layoffs across the Canadian banking business and within Global Banking and Markets operations in Asia, showing a clear move to streamline the workforce.

Risk management costs are substantial. The Provision for Credit Losses (PCL) for the full year 2025 reached C$4.71 billion. This was driven by higher impaired PCLs, with the fiscal 2025 impaired PCL ratio landing at 54 basis points of average loans. Management is cautiously optimistic, projecting PCLs to normalize into the high-40s to mid-50s basis-point range for 2026.

The physical footprint remains a cost factor, though less detailed in the latest reports. You still have the baseline costs associated with branch network maintenance and real estate expenses across the Canadian and international footprints, which contribute to the overall non-interest expense base.

Here's a quick look at the key cost line items from the 2025 results:

Cost Component	Fiscal 2025 Amount (C$)	Driver/Context
Total Non-Interest Expenses	22.52 billion	Overall operating scale
Provision for Credit Losses (PCL)	4.71 billion	Impaired loan provisioning
Restructuring Charge (Q4 2025)	373 million	Layoffs and streamlining efforts
Q4 Expense Growth (YoY)	11%	Personnel and technology spending

The bank achieved positive operating leverage for the full year, which is a key metric showing revenue growth outpaced expense growth:

• Full Year Revenue Growth: 12% year-over-year.
• Full Year Expense Growth: 9% year-over-year.
• Resulting Positive Operating Leverage: 3% for the year.

The focus on efficiency is clear, especially when you look at the segment performance driving the expense management narrative. The Global Banking & Markets segment delivered an ROE between 11.3% and 14.1% across the four quarters of 2025, which is considered above a normalized return level, suggesting high-cost, high-return activities are currently carrying the load.

You should track the impact of the Q4 restructuring charge on the upcoming quarters, as that C$373 million is a one-time hit meant to lower the recurring expense base going forward. Finance: draft 13-week cash view by Friday.

The Bank of Nova Scotia (BNS) - Canvas Business Model: Revenue Streams

You're looking at how The Bank of Nova Scotia (BNS) actually brings in the money across its global operations as of late 2025. It's a mix of traditional lending income and fees from advisory and trading services. Honestly, the story this year is how much the capital markets and wealth arms are contributing alongside the core lending business.

The two largest components of revenue for The Bank of Nova Scotia for the full fiscal year 2025 were Net Interest Income and Non-interest income. Total revenue for the full year 2025 reached $\text{C}\$37.74 \text{ billion}$, a solid increase from $\text{C}\$33.67 \text{ billion}$ the prior year.

Here's a quick look at the main revenue drivers for the full year 2025:

Revenue Stream Component	Fiscal Year 2025 Amount (C$)
Net Interest Income (NII) from loans and mortgages	$\text{21.52 billion}$
Non-interest income from fees, commissions, and trading	$\text{16.22 billion}$

That Net Interest Income (NII) is the difference between what The Bank of Nova Scotia earns on its assets, like loans and mortgages, and what it pays out on its liabilities, like deposits. For the fourth quarter ending October 31, 2025, NII was $\text{C}\$5.59 \text{ billion}$, which was up from $\text{C}\$4.92 \text{ billion}$ in the same quarter last year. The full-year Net Interest Margin expanded to $\text{2.33\%}$ from $\text{2.16\%}$.

Non-interest income is where you see the fee-based services really shine. For the full year 2025, this category was $\text{C}\$16.22 \text{ billion}$, marking a $\text{12\%}$ increase year-over-year. This stream is fed by several key areas, showing where The Bank of Nova Scotia is focusing its growth efforts:

• Wealth management fees (mutual fund and brokerage revenues)
• Investment banking and underwriting fees (Global Banking and Markets)
• Foreign exchange and cross-border transaction fees

You can see the strength in the fee-based segments when you look at the segment results. For instance, in the first quarter of 2025, Global Wealth Management adjusted earnings were $\text{C}\$416 \text{ million}$, up $\text{22\%}$ year-over-year, directly citing growth from higher mutual fund fees and brokerage revenues.

The Global Banking and Markets division was a major revenue generator from fees in 2025. The bank reported a record year in underwriting and advisory fee income, which was up $\text{37\%}$ compared with fiscal 2024. Trading income also saw a lift, increasing $\text{21\%}$ in fiscal 2025. This robust performance meant the Global Banking and Markets segment earnings grew by $\text{50\%}$ year-over-year in the fourth quarter.

When you check the Q4 2025 numbers, non-interest income hit $\text{C}\$4.22 \text{ billion}$. The increase in that quarter was attributed mainly to higher income from associated corporations, like the KeyCorp investment, plus those higher wealth management revenues and underwriting/advisory fees. It definitely shows you that the non-lending side of the business is becoming a more significant part of the overall revenue picture for The Bank of Nova Scotia.

Finance: draft 13-week cash view by Friday.