BANK OF NOVA SCOTIA (Form: 6-K, Received: 11/30/2021 14:26:36)

THE BANK OF NOVA SCOTIA

Date: November 30, 2021

/s/ Roula Kataras

Roula Kataras

Senior Vice-President & Chief Accountant

UNITED STATES

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: November, 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Form F-3 (File No. 333-228614) and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.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 October 31, 2021:


	As at October 31, 2021
	(in millions of Canadian dollars)
Subordinated Debentures		6,334
Equity
Common Equity
Common Shares		18,507
Retained Earnings		51,354
Accumulated Other Comprehensive Income		(5,333	)
Other Reserves		222

Total Common Equity		64,750
Preferred Shares and Other Equity Instruments		6,052

Total Equity Attributable to Equity Holders of the Bank		70,802
Non-controlling Interests
Non-controlling Interests in Subsidiaries		2,090

Total Equity		72,892

Total Capitalization		79,226

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, 2021.


	October 31,
	2021		2020		2019		2018		2017

Consolidated Ratios of Earnings to Fixed Charges
Excluding interest on deposits		9.00		5.91		6.61		8.15		9.60
Including interest on deposits		2.56		1.66		1.67		1.88		2.09
Consolidated Ratios of Earnings to Combined Fixed Charges and Preferred Dividends
Excluding interest on deposits		7.55		5.16		5.88		7.02		8.42
Including interest on deposits		2.46		1.63		1.65		1.84		2.06

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
	2021		2020		2019		2018		2017


Excluding interest on deposits

Earnings
Income from continuing operations before income taxes		12,826		8,396		11,270		11,106		10,276
less: gain from investees		339		242		650		559		407

		12,487		8,154		10,620		10,547		9,869

Fixed charges		1,560		1,661		1,894		1,475		1,147

Earnings		14,047		9,815		12,514		12,022		11,016


Fixed charges
Interest expense		1,560		1,661		1,736		1,332		1,014
Estimate of the interest within rental expense		—		—		158		143		133

Fixed charges		1,560		1,661		1,894		1,475		1,147

Preference security dividend requirements⁽¹⁾		300		240		233		238		161

Fixed charges and preferred dividends		1,860		1,901		2,127		1,713		1,308


Ratio of earnings to fixed charges		9.00		5.91		6.61		8.15		9.60

Ratio of earnings to combined fixed charges and preferred dividends		7.55		5.16		5.88		7.02		8.42

Including interest on deposits
Earnings
Income from continuing operations before income taxes		12,826		8,396		11,270		11,106		10,276
less: gain from investees		339		242		650		559		407

		12,487		8,154		10,620		10,547		9,869

Fixed charges		8,025		12,392		15,765		12,019		9,025

Earnings		20,512		20,546		26,385		22,566		18,894


Fixed charges
Interest expense		8,025		12,392		15,607		11,876		8,892
Estimate of the interest within rental expense		—		—		158		143		133

Fixed charges		8,025		12,392		15,765		12,019		9,025

Preference security dividend requirements⁽¹⁾		300		240		233		238		161

Fixed charges and preferred dividends		8,325		12,632		15,998		12,257		9,186


Ratio of earnings to fixed charges		2.56		1.66		1.67		1.88		2.09

Ratio of earnings to combined fixed charges and preferred dividends		2.46		1.63		1.65		1.84		2.06


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