Scotia Sees Marginal Improvement In Year End Results

 

• For the year ended October 31, 2018, Scotia Group reported a net profit of $12.7Bn (EPS: $4.10), which represents a 3% increase over the $12.4Bn (EPS: $3.91) reported in 2017.

 

• This was driven by increases in foreign currency trading gains (60%), net gains on financial assets (12%), insurance revenue (5%), and a $753.1Mn gain on the sale of its subsidiary.

 

• Scotia stock price grew 3.37% in 2018 and has contracted by 1% since the start of 2019. The stock currently trades at a P/E of 13.16x earnings which is below the 17.99x average for main market finance stocks.

 

(Source: Scotia Group Financials)