$BNS

Scotiabank acquired the Victory Park office tower in Dallas, where it operates its U.S. hub. The 15-story building, valued at $150M for tax purposes, was sold by a partnership including Ross Perot Jr.'s Hillwood. Scotiabank plans to occupy 133,000 sq ft for over 1,000 workers, investing $60M in the project. The bank received $13.7M in incentives from the city and state. The tower is part of Dallas's growing financial district, 'Y'all Street'.

Scotiabank will release its Q4 2026 results on December 2, 2026, at 5:30 a.m. ET, followed by a conference call at 7:15 a.m. ET. The bank's assets total approximately $1.5 trillion as of July 31, 2026, and it trades on the TSX and NYSE under the ticker BNS.

Scotiabank completed its acquisition of all outstanding shares of Scotia Group Jamaica Limited (SGJL) it did not already own, effective October 30, 2026. The deal is part of Scotiabank's strategy to improve capital and operational efficiency. SGJL shares are expected to be delisted from the Jamaica Stock Exchange.

Canada's Big Six banks (BNS, NA, BMO, RY, TD, CM) and Laurentian Bank/Desjardins raised prime rates to 4.70% from 4.45% after the Bank of Canada's 25bps hike to 2.5%. This affects variable-rate mortgages and lines of credit. The central bank aims to control inflation.

The TSX Composite Index fell 1% to 35,973 on Thursday, driven by rising oil prices and expectations of higher interest rates. Banks and miners declined, with Scotiabank down 0.9% and Agnico Eagle losing 6.2%. Tech stocks weakened, with Celestica down 12% and Shopify shedding 3.5%. Waste Connections rose 9.5% after beating earnings estimates.

Scotiabank filed a Form 6-K on October 16, 2026, confirming the validity of US$2.3 billion in senior notes. The notes, maturing between 2029 and 2032, have fixed-to-floating and floating-rate structures. Legal opinions from Allen Overy Shearman Sterling US LLP and Osler, Hoskin & Harcourt LLP support the notes' validity. The filing is part of Scotiabank's broader capital markets program.

Scotiabank received FCA approval for a CAD100 billion covered bond prospectus supplement. The bonds are fully guaranteed, boosting investor confidence. The supplement is publicly available, enhancing transparency and funding flexibility for the bank.

TD Bank ranked 10th and RBC 3rd in Evident AI's 2026 global banking AI index. TD aims for $500M in AI-driven revenue and cost savings, while RBC targets $700M-$1B in enterprise value by 2027. Canadian banks lead in disclosing AI returns, but measuring direct financial impact remains challenging.

Scotiabank (TSX: BNS, NYSE: BNS) received approval to increase its share buyback program from 15 million to 40 million common shares, representing 3.25% of its outstanding shares. The bank has already repurchased 13.04 million shares since the program began. The amended bid will take effect on October 6, 2026, and continue until April 6, 2027, unless terminated earlier.

CIBC's chief market technician Sid Mokhtari released his top 10 stock picks for October, including Gibson Energy (GEI-T), Suncor (SU-T), Nutrien (NTR-T), Constellation Software (CSU-T), Shopify (SHOP-T), Finning International (FTT-T), Bank of Nova Scotia (BNS-T), and Northland Power (NPI-T). His portfolio has outperformed the S&P/TSX Composite Index over the past four years, with a 9.29% YTD return. The TSX declined 2.85% in September, with tech as the only positive sector.