BNS Stock Recent News

The Bank of Nova Scotia (NYSE:BNS ) Q3 2024 Earnings Conference Call August 27, 2024 8:15 AM ET Company Participants John McCartney - Head of IR Scott Thomson - President and CEO Raj Viswanathan - CFO Phil Thomas - Chief Risk Officer Travis MacHen - Global Banking and Markets Francisco Aristeguieta - Group Head of International Banking Aris Bogdaneris - Group Head of Canadian Banking Conference Call Participants Ebrahim Poonawala - Bank of America Gabriel Dechaine - National Bank Financial Paul Holden - CIBC Jill Shea - UBS Mario Mendonca - TD Securities Darko Mihelic - RBC Capital Markets Lemar Persaud - Cormark Securities Nigel D'Souza - Veritas Investment Research Sohrab Movahedi - BMO Capital Markets Doug Young - Desjardins Capital Markets Operator Good morning, and welcome to Scotiabank's 2024 Third Quarter Results Presentation. My name is John McCartney, and I'm Head of Investor Relations here at Scotiabank.

Bank of Nova Scotia (BNS) came out with quarterly earnings of $1.19 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $1.30 per share a year ago.

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Bank of Nova Scotia agreed to buy a minority stake in KeyCorp, which was among the US regional banks hit hardest in last year's tumult, for about $2.8 billion as part of a focus on North America. Christine Dobby reports.

Chris Gorman, KeyCorp CEO, joins 'Money Movers' to discuss Scotiabank's stake in Keycorp, how Keycorp was able to get the financing it did, and what Scotiabank is getting out of the deal.

Canadian bank Scotiabank plans to acquire a 14.9% stake in Cleveland-based KeyCorp, which operates about 1,000 KeyBank branches in 15 U.S. states and provides corporate and investment banking products. Pending regulatory approval, Scotiabank expects to close the initial investment of 4.

Scotiabank (TSX:BNS) announced it will acquire a 14.9% stake in US financial services firm KeyCorp (NYSE:KEY) in a deal valued at approximately $2.8 billion. The Canadian bank will purchase 163 million of KeyCorp (NYSE:KEY)'s shares at a fixed price of $17.17 per share.

KeyCorp.'s stock KEY, +0.48% jumped 4.6% early Monday, after the regional bank said it has reached an agreement with Canadian lender The Bank of Nova Scotia BNS, +0.94% BNS, +0.87% under which the latter will invest about $2.8 billion, equal to a 14.9% stake, for $17.17 a share. The stock closed Friday at $14.61.

TORONTO , Aug. 12, 2024 /PRNewswire/ - Scotiabank announced today that it has entered into an agreement to acquire an approximate 14.9% pro-forma ownership stake in KeyCorp through an issuance of common shares at a price of $17.17 per share, representing an 11% premium to the volume weighted average price for the last 20 trading days. The total cash consideration is approximately US$2.8 billion (the "Investment").