Scotiabank expects KeyCorp to contribute about CAD 96 million to Q4 2026 net income
BNS•Scotiabank expects its KeyCorp stake to contribute about CAD 96 million to fourth-quarter 2026 net income, or CAD 104 million on an adjusted basis. A Chilean deferred tax asset write-down is expected to reduce reported and adjusted earnings by about CAD 55 million.
1. Expected contribution
Scotiabank expects its KeyCorp stake to contribute about CAD 96 million to fourth-quarter 2026 net income. The estimate reflects KeyCorp’s third-quarter 2026 earnings, acquisition accounting adjustments and related financing costs, reported with a one-month lag. Adjusted net income contribution is expected at about CAD 104 million, excluding roughly CAD 8 million in intangible asset amortization.
2. Chile tax charge
A deferred tax asset write-down in Chile is expected to reduce fourth-quarter reported and adjusted earnings by about CAD 55 million, affecting international banking. The one-time charge reflects Chile’s corporate tax rate reduction of 4 percentage points over three years to 23%.
