Bank of Nova Scotia (Symbol-BNS)

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gitterm
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Bank of Nova Scotia (Symbol-BNS)

Post by gitterm »

Scotiabank makes investments in Peru. What do you guys think about this? I like this becuase it seems like I will run bank that they are buying and with this new investment bns will control a bigger market share in Peru. I think this could be great for long term growth.

All comment welcome

Gitterm
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Post by pitz »

I spend a few weeks a year in Costa Rica, particularly in San Jose, but sometimes on the Atlantic coast as well. The Bank of Nova Scotia is one of the major banks in the country. They have a solid reputation for doing business in Latin America.

At least in Costa Rica, the change that is taking place, within the economy, with respect to development, is incredible. Not only is an entirely new affluent class emerging, but even commoners are becoming increasingly sophisticated with respect to their banking.

Lots of potential opportunity in Latin America, and I doubt Peru is any different.
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Scotia Capital buying 20B of GMAC loans

Post by unicef01 »

Did anyone catch this other investment ?

http://www.cbc.ca/story/business/nation ... 51205.html

Scotia Capital, the investment banking arm of the Bank of Nova Scotia, is buying $20 billion US worth of auto loans from GMAC, the financing arm of General Motors.

in contrast, the investment in peru is 330 million US
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Post by arnyk »

Tuesday, February 14, 2006
Scotiabank buys mortgage lender
TAVIA GRANT
Globe and Mail Update

Bank of Nova Scotia said Tuesday it will buy the mortgage business of Maple Financial Group Inc. for $233-million, making the bank the third-largest provider of Canadian mortgages.
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Bylo Selhi
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Post by Bylo Selhi »

This is from BNS's online banking site. Presumably it's been like this for months, if not years. They should be embarrassed. Can anyone see why?

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Post by Nemo2 »

They obviously have no principals. :lol:
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Post by Jo Anne »

Bylo Selhi wrote:This is from BNS's online banking site. Presumably it's been like this for months, if not years. They should be embarrassed. Can anyone see why?
I give up. Enlighten me.
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Post by arnyk »

Nemo2 wrote:They obviously have no principals. :lol:
I was wayyy off. :roll:
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Post by Nemo2 »

arnyk wrote:
Nemo2 wrote:They obviously have no principals. :lol:
I was wayyy off. :roll:
That's OK, English is my first language. :lol:
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Post by Shakespeare »

I assume the 'market value' includes imputed interest and no face value change with interest rates. That isn't the real market value.

I also note a forced FX conversion. :?
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Post by Bylo Selhi »

Nemo2 wrote:They obviously have no principals. :lol:
Bingo!
Shakespeare wrote:I also note a forced FX conversion. :?
At maturity. Yeah, I'll have to mention that to my mom, although ISTR that she's always ignored the maturity instructions because she gets a renewal notice ahead of time anyway.
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Post by AltaRed »

I see 2 things.... the principle/principal thing Nemo did.... plus currencies (USD or CAD)?
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Post by Bylo Selhi »

AltaRed wrote:I see 2 things.... the principle/principal thing Nemo did.... plus currencies (USD or CAD)?
US$. Don't ask why an 85-year-old who would never buy a mutual fund because she once saw something that said "prices may fluctuate" has no fear when it comes to currency speculationUS$ GICs :shock:

P.S. Her age and health means that the last place on earth where she can afford travel insurance for and hence can visit is the US.
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Post by Shakespeare »

Scotia Discount also has the balances under "trade date" and "settlement date" reversed. I e-mailed them about it at one point.
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Post by Jo Anne »

Back about 10 years ago, I used to teach accounting to the computer programming students at Seneca. Many of them bitched about having to take accounting, as they weren't going to be accountants - they were programmers.

They also complained bitterly about being forced to take English courses.

One of them whipped up this web page.
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Post by 2 yen »

How does one simply determine what % of BNS's business is outside Canada? That's what I'm interested in, as having too much money in Canadian banks does (thanks Shakespeare) skew sector and geographic allocation. The same for the other banks?
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Post by yielder »

2 yen wrote:How does one simply determine what % of BNS's business is outside Canada? That's what I'm interested in, as having too much money in Canadian banks does (thanks Shakespeare) skew sector and geographic allocation. The same for the other banks?
Try the latest quarterly results available at Scotia's website. They usually sex them up with charts in an investor presentation. Gotta be careful though because those presentations emphasize want they want you to look at and ignore want they want you to miss. 8)
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Post by pmj »

On principle (!) I'm always suspicious of anyone who can't figure out how to avoid printing 04:29 PM. It's either 04:29 or it's 4:29 PM. 04:29 PM is an oxymoron. 04:29 AM is somewhat redundant - but at least it's not an oxymoron.
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Post by gyrfalcon »

"Scotiabank delivers record Q2 earnings

Second quarter highlights compared to the same period a year ago:

- Earnings per share (diluted) of $1.03, an increase of 16% from $0.89
- Net income of $1.04 billion, up 16% from $894 million
- Return on equity of 23.4%, versus 23.2%
- Productivity ratio of 53.8%, improved from 55.3%

Quarterly dividend increased by 3 cents to 45 cents per common share."
-----------------------------------------------------------------------
I don't know when I'll get more of this. A nice BoC rate increase & a Q2 slipup could have made half an afternoon on the PC worthwhile, waiting for the downdraft. No such luck. gyr.
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Post by investor99 »

Analysts at RBC Capital Markets reiterate their "sector perform" rating on The Bank of Nova Scotia (BNS.NYS), while reducing their estimates for the company. The 12-month target price has been reduced from C$57 to C$54.

In a research note published this morning, the analysts mention that the wholesale and wealth management divisions of Canadian banks face the risk of continued sluggishness in the capital markets.

Domestic retail operations make the lowest contribution to The Bank of Nova Scotia’s earnings mix among its peers, the analysts say. The company’s international division is exposed to the negative impact of the increased risk aversion on the valuation of emerging market assets, RBC Capital Markets adds. The EPS estimates for 2007 and 2008 have been reduced from C$4.04 to C$3.99 and from C$4.32 to C$4.22, respectively.
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Post by Nemo2 »

I picked some up yesterday @ $48.16, so $54 (and dividend) looks good to me. :)
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Post by Profit not Prophet »

So BNS is big in Mexico. Pemex, the national oil company announced a couple weeks back that they are out of oil in 7 years. They bring in something like 35% of the Mexican governments revenue. Makes banking in Moose Jaw sound safer than Mexico City. I hope the guys in ties know what they doing there. I have RY but was considering another Canadian bank as I accumulate more moola. BNS and TD were candidates. Not sure where to look. The longer term returns for the batch of banks is relative tight despite there individual differences. Steve
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Post by investor99 »

I guess I'm picking Mexico over Moose Jaw...

I just bought some BNS at $47.56.
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Post by Wallace »

I'm thinking about increasing my position in Scotiabank too.

Royal Bank has a large investment in the USA but Scotiabank is in S America. Does this mean that it will have less exposure to the subprime mortgage market? I don't see any references to subprime loans in the "Morningstar" report.
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Post by mpav »

I think Scotia's play in Latam is interesting, Mexico is a spot that has a good portion of the people unbanked (hence room to grow, but added risk).

What people tend to overlook about BNS is their very strong franchise in the Caribbean. Good ROE, long history, actually more stable than LATAM and further to that, on the acquisition/growth trail
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