Scotiabank Says Q4 Results To Be Impacted By Charges Of About C$0.49/share

(RTTNews) - Canadian lender Bank of Nova Scotia (BNS.TO, BNS), called Scotiabank, announced Wednesday that its fourth quarter 2023 reported results will be adjusted for certain notable items. This is expected to the Bank's CET1 ratio by about 10 basis points.

The total impact on the Bank's fourth quarter results will be about C$590 million after-tax or C$783 million pre-tax, or about C$0.49 per share.

This includes after-tax restructuring charge and severance provisions of about C$247 million or C$341 million pre-tax and after-tax consolidation of real estate and contract costs of C$63 million or C$87 million pre-tax. It also includes after-tax impairment charges of C$280 million or C$355 million pre-tax.