Strong and consistent earnings growth Solid capital adequacy ratios Well-established international growth platform Very good diversification by customer, product, and geography Consistent and deliberate execution of business strategy Risk associated with investments in developing and emerging markets Lack of U.S. retail deposit base to support U.S. corporate lending activities Negative effect of currency translation on foreign earnings The ratings on The Bank of Nova Scotia (Scotiabank) reflect its market position as one of five dominant universal banks in Canada, its broad business mix, geographic diversification, the efficiencies of its operations, and the high returns that it generates from its international operations. The bank has a track record of generating strong and consistent earnings performance and has a solid capital base
