BANK OF NOVA SCOTIA (Form: 6-K, Received: 06/01/2021 07:57:11)

THE BANK OF NOVA SCOTIA

Date: June 1, 2021

/s/ Roula Kataras

Roula Kataras

Senior Vice-President & Chief Accountant

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: June, 2021		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Form F-3 (File No. 333-228614) and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.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.

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

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 April 30, 2021:


	As at April 30, 2021
	(in millions of Canadian dollars)
Subordinated Debentures		6,439
Equity
Common Equity
Common Shares		18,377
Retained Earnings		48,713
Accumulated Other Comprehensive Income		(3,979	)
Other Reserves		348

Total Common Equity		63,459
Preferred Shares and Other Equity Instruments		4,549

Total Equity Attributable to Equity Holders of the Bank		68,008
Non-controlling Interests
Non-controlling Interests in Subsidiaries		2,414

Total Equity		70,422

Total Capitalization		76,861

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 the six months period ended April 30, 2021 and for each of the years in the five year period ended October 31, 2020.


	Six Months Ended April 30,		October 31,
	2021		2020		2019		2018		2017		2016

Consolidated Ratios of Earnings to Fixed Charges
Excluding interest on deposits		9.06		5.91		6.61		8.15		9.60		8.18
Including interest on deposits		2.47		1.66		1.67		1.88		2.09		2.12
Consolidated Ratios of Earnings to Combined Fixed Charges and Preferred Dividends
Excluding interest on deposits		7.52		5.16		5.88		7.02		8.42		7.22
Including interest on deposits		2.38		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 interest and net income from investments in associated corporations);

•

fixed charges, excluding interest on deposits, represent interest (including capitalized interest), estimated interest within rent, and amortization of debt issuance costs; and

•

fixed charges, including interest on deposits, represent all interest.

Exhibit 99.2

Computation of Consolidated Ratio of Earnings


($ in million)	IFRS
	Q2, 2021		2020		2019		2018		2017		2016


Excluding interest on deposits

Earnings
Income from continuing operations before income taxes		6,298		8,396		11,270		11,106		10,276		9,398
less: gain from investees		170		242		650		559		407		414

		6,128		8,154		10,620		10,547		9,869		8,984

Fixed charges		760		1,661		1,894		1,475		1,147		1,251

Earnings		6,888		9,815		12,514		12,022		11,016		10,235


Fixed charges
Interest expense		760		1,661		1,736		1,332		1,014		1,123
Estimate of the interest within rental expense		—		—		158		143		133		128

Fixed charges		760		1,661		1,894		1,475		1,147		1,251

Preference security dividend requirements⁽¹⁾		156		240		233		238		161		166

Fixed charges and preferred dividends		916		1,901		2,127		1,713		1,308		1,417


Ratio of earnings to fixed charges		9.06		5.91		6.61		8.15		9.60		8.18

Ratio of earnings to combined fixed charges and preferred dividends		7.52		5.16		5.88		7.02		8.42		7.22

Including interest on deposits
Earnings
Income from continuing operations before income taxes		6,298		8,396		11,270		11,106		10,276		9,398
less: gain from investees		170		242		650		559		407		414

		6,128		8,154		10,620		10,547		9,869		8,984

Fixed charges		4,172		12,392		15,765		12,019		9,025		8,044

Earnings		10,300		20,546		26,385		22,566		18,894		17,028


Fixed charges
Interest expense		4,172		12,392		15,607		11,876		8,892		7,916
Estimate of the interest within rental expense		—		—		158		143		133		128

Fixed charges		4,172		12,392		15,765		12,019		9,025		8,044

Preference security dividend requirements⁽¹⁾		156		240		233		238		161		166

Fixed charges and preferred dividends		4,328		12,632		15,998		12,257		9,186		8,210


Ratio of earnings to fixed charges		2.47		1.66		1.67		1.88		2.09		2.12

Ratio of earnings to combined fixed charges and preferred dividends		2.38		1.63		1.65		1.84		2.06		2.07


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