Scotiabank Reports Expected Q2 Income Contribution From Its Ownership Interest In KeyCorp

Scotiabank expects about C$77 million of net income contribution from its KeyCorp stake in the second quarter, or roughly C$69 million after adjusting for about C$8 million of acquired intangible asset amortization. The update is a routine earnings contribution disclosure and does not indicate a major change in fundamentals. Impact on the stock and sector should be limited.

Analysis

Scotiabank expects about C$77 million of net income contribution from its KeyCorp stake in the second quarter, or roughly C$69 million after adjusting for about C$8 million of acquired intangible asset amortization. The update is a routine earnings contribution disclosure and does not indicate a major change in fundamentals. Impact on the stock and sector should be limited.