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This statistic highlights Bank of Nova Scotia’s Revenue by Segment, split across Canadian Banking, Global wealth management and International Banking, and is reported quarterly from Q1 2017 onwards.
|Segment||Q1 2023||Q1 2022|
|Canadian Banking excluding wealth management||$3,164,000,000||$2,874,000,000|
|Global wealth management||$1,323,000,000||$1,422,000,000|
(All figures in CAD billions, except percentages)
In Q1 2023, Canadian Banking excluding wealth management generated $3.16 billion which was 44% of the total revenue of the Bank of Nova Scotia and there has been a 10% year-over-year growth from Q1 2022. In Q1 2023, Global wealth management accounted for 20% of total revenue. The segment generated $1.32 billion in Q1 2023. There has been a decline of 7% year-over-year growth from $1.42 billion in Q1 2022. In Q1 2023, international banking by region was $2.67 billion and contributed 36% of total revenue. There has been the highest year-over-year growth of 11% in international banking by region. The increases in international banking by region are due to its Expansion strategy, Trade & Commercial banking, Network & infrastructure.
Canadian Banking Excluding Wealth Management
Canadian Banking provides financial advice and banking solutions to over 10 million retails. It includes services for individuals, small businesses, institutions, and corporations. These services encompass personal banking (credit cards, loans, mortgages) small business banking (business accounts, merchant services), commercial banking (financial solutions for larger businesses), and corporate banking (services for large corporate and institutional clients). It serves its customers through its network of 941 branches and 3,697 automated banking machines.
Global Wealth Management
It focuses on providing comprehensive wealth management services to its clients. It serves over 2.5 million investment fund and advisory clients across 13 countries. It offers services like Private banking, Investment advisory, and Trust and Estate Services.
International Banking by Region
International banking of Scotiabank has a strong and diverse franchise, and it has over 11 million corporate, retail, and commercial customers. In North America, Scotiabank operates branches and offers banking services in Canada, the United States, and Mexico. They provide services like commercial banking, investment banking, and personal banking.
About Bank of Novia Scotia
The Bank of Nova Scotia, also known as Scotiabank, is one of Canada’s largest banks. It was established in 1832 in Nova Scotia, Halifax. Scotiabank provides a wide range of financial services and products to businesses, individuals, and corporations. Its offerings include commercial banking, personal banking, investment banking, and wealth management. Scotiabank is a significant international presence in the Caribbean and Latin America. It has acquired several banks in the region and making it one of the largest foreign banks operating in these markets.
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* Billed annually, local taxes extra.
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