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Bank Of Nova Scotia 6-K, filed Dec 1, 2020

Bank Of Nova Scotia (BNS)

6-K 2020-12-01 For: 2020-12-01
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Added on July 07, 2026

About this 6-K

Bank Of Nova Scotia filed this 6-K on December 1, 2020.

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: December, 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Form F-3 (File No. 333-228614) and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.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: December 1, 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

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 October 31, 2020:

As at<br>October 31, 2020
(in millions ofCanadian dollars)
Subordinated Debentures 7,405
Equity
Common Equity
Common Shares 18,239
Retained Earnings 46,345
Accumulated Other Comprehensive Income (2,125 )
Other Reserves 360
Total Common Equity 62,819
Preferred Shares and Other Equity Instruments 5,308
Total Equity Attributable to Equity Holders of the Bank 68,127
Non-controlling Interests
Non-controlling Interests in Subsidiaries 2,376
Total Equity 70,503
Total Capitalization **** 77,908 ****

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 each of the years in the five year period ended October 31, 2020.

October 31,
2020 2019 2018 2017 2016
Consolidated Ratios of Earnings to Fixed Charges
Excluding interest on deposits 5.91 6.61 8.15 9.60 8.18
Including interest on deposits 1.66 1.67 1.88 2.09 2.12
Consolidated Ratios of Earnings to Combined Fixed Charges andPreferred Dividends
Excluding interest on deposits 5.16 5.88 7.02 8.42 7.22
Including interest on deposits 1.63 1.65 1.84 2.06 2.07

For purposes of computing these ratios:

• earnings represent income from continuing operations plus income taxes and fixed charges (excluding capitalized<br>interest and net income from investments in associated corporations);
• fixed charges, excluding interest on deposits, represent interest (including capitalized interest), estimated<br>interest within rent, and amortization of debt issuance costs; and
--- ---
• fixed charges, including interest on deposits, represent all interest.
--- ---

EX-99.2

Exhibit 99.2

Computation of Consolidated Ratio of Earnings

( in million) IFRS
2020 2019 2018 2017 2016
Excluding interest on deposits
Earnings
Income from continuing operations before income taxes 8,396 11,270 11,106 10,276 9,398
less: gain from investees 242 650 559 407 414
8,154 10,620 10,547 9,869 8,984
Fixed charges 1,661 1,894 1,475 1,147 1,251
Earnings 9,815 12,514 12,022 11,016 10,235
Fixed charges
Interest expense 1,661 1,736 1,332 1,014 1,123
Estimate of the interest within rental expense — 158 143 133 128
Fixed charges 1,661 1,894 1,475 1,147 1,251
Preference security dividend<br>requirements(1) 240 233 238 161 166
Fixed charges and preferred dividends 1,901 2,127 1,713 1,308 1,417
Ratio of earnings to fixed charges **** 5.91 **** **** 6.61 **** **** 8.15 **** **** 9.60 **** **** 8.18 ****
Ratio of earnings to combined fixed charges and preferred dividends **** 5.16 **** **** 5.88 **** **** 7.02 **** **** 8.42 **** **** 7.22 ****
Including interest on deposits
Earnings
Income from continuing operations before income taxes 8,396 11,270 11,106 10,276 9,398
less: gain from investees 242 650 559 407 414
8,154 10,620 10,547 9,869 8,984
Fixed charges 12,392 15,765 12,019 9,025 8,044
Earnings 20,546 26,385 22,566 18,894 17,028
Fixed charges
Interest expense 12,392 15,607 11,876 8,892 7,916
Estimate of the interest within rental expense — 158 143 133 128
Fixed charges 12,392 15,765 12,019 9,025 8,044
Preference security dividend<br>requirements(1) 240 233 238 161 166
Fixed charges and preferred dividends 12,632 15,998 12,257 9,186 8,210
Ratio of earnings to fixed charges **** 1.66 **** **** 1.67 **** **** 1.88 **** **** 2.09 **** **** 2.12 ****
Ratio of earnings to combined fixed charges and preferred dividends **** 1.63 **** **** 1.65 **** **** 1.84 **** **** 2.06 **** **** 2.07 ****

All values are in US Dollars.

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