Scotiabank to change presentation of certain financial information related to the adoption of IFRS 9

TORONTO, Feb. 13, 2018 /CNW/ - Scotiabank released today, under the Investor Relations section of www.scotiabank.com, the proposed template for its Supplemental Financial Information package.

As disclosed in Scotiabank's Fiscal 2017 Consolidated Financial Statements, the Bank has adopted IFRS 9 effective November 1, 2017 and will not restate comparative periods.

The purpose of this template is to help users of the Bank's financial disclosures better understand the changes to its supplemental disclosures following the Bank's adoption of IFRS 9, Financial Instruments (IFRS 9), that replaced IAS 39, Financial Instruments: Recognition and Measurement (IAS 39), effective November 1, 2017.

Scotiabank will release its fiscal Q1 2018 results on February 27, 2018. The bank intends to provide additional details surrounding the impacts of IFRS 9 in its Report to Shareholders for Q1 2018. Given this is a proposed template for the Supplemental Financial Information package, it is possible that further refinements could be made.

About Scotiabank
Scotiabank is Canada's international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 24 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 88,000 employees and assets of over $915 billion (as at October 31, 2017), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @Scotiabank.

SOURCE Scotiabank