0001193125-20-150941.txt : 20200526 0001193125-20-150941.hdr.sgml : 20200526 20200526085405 ACCESSION NUMBER: 0001193125-20-150941 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20200526 FILED AS OF DATE: 20200526 DATE AS OF CHANGE: 20200526 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BANK OF NOVA SCOTIA CENTRAL INDEX KEY: 0000009631 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 134941099 STATE OF INCORPORATION: Z4 FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 002-09048 FILM NUMBER: 20908283 BUSINESS ADDRESS: STREET 1: 44 KING STREET WEST STREET 2: SCOTIA PLAZA 8TH FL. CITY: TORONTO STATE: A6 ZIP: M5H 1H1 BUSINESS PHONE: (416) 866-3672 MAIL ADDRESS: STREET 1: 44 KING STREET WEST STREET 2: SCOTIA PLAZA 8TH FL. CITY: TORONTO STATE: A6 ZIP: M5H 1H1 FORMER COMPANY: FORMER CONFORMED NAME: BANK OF NOVA SCOTIA / DATE OF NAME CHANGE: 19970702 6-K 1 d835636d6k.htm 6-K 6-K

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

Form 6-K

 

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

 

For the month of: May, 2020   Commission File Number: 002-09048

 

 

THE BANK OF NOVA SCOTIA

(Name of registrant)

 

 

44 King Street West, Scotia Plaza, Toronto, Ontario, M5H 1H1

(416) 933-4103

(Address of Principal Executive Offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F  ☐            Form 40-F   ☒

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

This report on Form 6-K shall be deemed to be incorporated by reference in The Bank of Nova Scotia’s registration statements on Form S-8 (File No. 333-199099) and Form F-3 (File No. 333-228614) and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.

 

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  THE BANK OF NOVA SCOTIA
Date: May 26, 2020   By:  

/s/ Roula Kataras

    Name:   Roula Kataras
    Title:   Senior Vice-President & Chief Accountant

EXHIBIT INDEX

 

Exhibit

   

Description of Exhibit

99.1    Consolidated Capitalization and Consolidated Earnings Ratios
99.2    Statement Regarding the Computation of Consolidated Ratio of Earnings
 EX-99.1 2 d835636dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

CONSOLIDATED CAPITALIZATION OF THE BANK

The following table sets forth the consolidated capitalization of The Bank of Nova Scotia (the “Bank”) as at April 30, 2020:

 

     As at
April 30, 2020		  
     (in millions of
Canadian dollars)		  

Subordinated Debentures

      7,484  

Equity

   

Common Equity

   

Common Shares

      18,231  

Retained Earnings

      45,456  

Accumulated Other Comprehensive Income

      218  

Other Reserves

      359  
  

 

 

  

Total Common Equity

      64,264  

Preferred Shares and Other Equity Instruments

      3,619  
  

 

 

  

Total Equity Attributable to Equity Holders of the Bank

      67,883  

Non-controlling Interests

   

Non-controlling Interests in Subsidiaries

      2,452  
  

 

 

  

Total Equity

      70,335  
  

 

 

  

Total Capitalization

      77,819  
  

 

 

  

CONSOLIDATED EARNINGS RATIOS

The following table provides the Bank’s consolidated ratios of earnings to fixed charges, based upon financial information calculated in accordance with International Financial Reporting Standards (“IFRS”) for the six months period ended April 30, 2020 and each of the years in the five year period ended October 31, 2019.

 

    Six Months
Ended
April 30,		     October 31,  
    2020     2019     2018     2017     2016     2015  

Consolidated Ratios of Earnings to Fixed Charges

            

Excluding interest on deposits

     5.33       6.61       8.15       9.60       8.18       7.90  

Including interest on deposits

     1.60       1.67       1.88       2.09       2.12       2.18  

Consolidated Ratios of Earnings to Combined Fixed Charges and Preferred Dividends

            

Excluding interest on deposits

     4.80       5.88       7.02       8.42       7.22       7.07  

Including interest on deposits

     1.58       1.65       1.84       2.06       2.07       2.14  

For purposes of computing these ratios:

 

  •  

earnings represent income from continuing operations plus income taxes and fixed charges (excluding capitalized interest and net income from investments in associated corporations);

 

  •  

fixed charges, excluding interest on deposits, represent interest (including capitalized interest), estimated interest within rent, and amortization of debt issuance costs; and

 

  •  

fixed charges, including interest on deposits, represent all interest.

EX-99.2 3 d835636dex992.htm EX-99.2 EX-99.2

Exhibit 99.2

Computation of Consolidated Ratio of Earnings

 

($ in million)    IFRS  
     Q2, 2020      2019      2018      2017      2016      2015  
                 

Excluding interest on deposits

                  

Earnings

                  

Income from continuing operations before income taxes

      4,544        11,270        11,106        10,276        9,398        9,066  

less: gain from investees

      151        650        559        407        414        405  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  
     4,393        10,620        10,547        9,869        8,984        8,661  

Fixed charges

      1,014        1,894        1,475        1,147        1,251        1,255  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Earnings

      5,407        12,514        12,022        11,016        10,253        9,916  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Fixed charges

                  

Interest expense

      1,014        1,736        1,332        1,014        1,123        1,125  

Estimate of the interest within rental expense

      —        158        143        133        128        130  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Fixed charges

      1,014        1,894        1,475        1,147        1,251        1,255  

Preference security dividend requirements(1)

      113        233        238        161        166        147  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Fixed charges and preferred dividends

      1,127        2,127        1,713        1,308        1,417        1,402  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Ratio of earnings to fixed charges

      5.33        6.61        8.15        9.60        8.18        7.90  

Ratio of earnings to fixed charges and preferred dividends

      4.80        5.88        7.02        8.42        7.22        7.07  

Including interest on deposits

                  

Earnings

                  

Income from continuing operations before income taxes

      4,544        11,270        11,106        10,276        9,398        9,066  

less: gain from investees

      151        650        559        407        414        405  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  
     4,393        10,620        10,547        9,869        8,984        8,661  

Fixed charges

      7,265        15,765        12,019        9,025        8,044        7,325  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Earnings

      11,658        26,385        22,566        18,894        17,028        15,986  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Fixed charges

                  

Interest expense

      7,265        15,607        11,876        8,892        7,916        7,195  

Estimate of the interest within rental expense

      —        158        143        133        128        130  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Fixed charges

      7,265        15,765        12,019        9,025        8,044        7,325  

Preference security dividend requirements(1)

      113        233        238        161        166        147  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Fixed charges and preferred dividends

      7,378        15,998        12,257        9,186        8,210        7,472  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Ratio of earnings to fixed charges

      1.60        1.67        1.88        2.09        2.12        2.18  

Ratio of earnings to fixed charges and preferred dividends

      1.58        1.65        1.84        2.06        2.07        2.14  

 

Note (1)    Preference security dividend requirements include the amount of pre-tax earnings that is required to pay the dividends on outstanding preference securities.