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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  The Bank of Nova Scotia    BNS   CA0641491075

THE BANK OF NOVA SCOTIA

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Bank of Montreal, CIBC say employees to continue to work from home until April

11/25/2020 | 07:12pm EST
Phase 2 of the reopening from the coronavirus disease (COVID-19) restrictions in Toronto

TORONTO (Reuters) - Bank of Montreal and Canadian Imperial Bank of Commerce said employees currently working from home will continue to do so until at least April.

Most office-based employees at Canadian banks have not been working from offices since the start of the coronavirus pandemic in March. A resurgence in cases in many parts of the country, including Toronto, has prompted the resumption of lockdowns and tighter safety measures.

Canada has reported 342,444 total cases of COVID-19 and 11,618 deaths. Canada's five biggest banks - Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, BMO and CIBC all have their biggest offices in Toronto.

"Given latest health authority guidance, we now expect the majority of our colleagues working off-site today will continue to do so until at least April 2021," CIBC's Group Head for People, Culture and Brand Sandy Sharman said in a memo to employees, adding the bank will give staff four weeks notice before any return plan is put into action.

BMO said in a statement that it does not "foresee any broad-based changes for employees who are currently working from home any sooner than April 2021, unless a specific business need exists."

Canada's biggest banks said in July that they most of their employees will continue to work from home until at least year-end.

(Reporting By Nichola Saminather; Editing by Cynthia Osterman)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BANK OF COMMERCE HOLDINGS -0.40% 10 Delayed Quote.1.41%
CANADIAN IMPERIAL BANK OF COMMERCE -0.79% 111.7 Delayed Quote.3.56%
ROYAL BANK OF CANADA -0.46% 107.55 Delayed Quote.3.33%
THE BANK OF NOVA SCOTIA -1.03% 69.855 Delayed Quote.2.57%
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Financials
Sales 2021 30 269 M 23 970 M 23 970 M
Net income 2021 7 350 M 5 821 M 5 821 M
Net Debt 2021 - - -
P/E ratio 2021 11,7x
Yield 2021 5,10%
Capitalization 85 509 M 67 634 M 67 715 M
Capi. / Sales 2021 2,82x
Capi. / Sales 2022 2,69x
Nbr of Employees 92 001
Free-Float 100,0%
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Technical analysis trends THE BANK OF NOVA SCOTIA
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 69,25 CAD
Last Close Price 70,57 CAD
Spread / Highest target 9,11%
Spread / Average Target -1,87%
Spread / Lowest Target -19,2%
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Managers and Directors
NameTitle
Brian Johnston Porter President, CEO & Non-Independent Director
Aaron William Regent Chairman
Loretta Marcoccia Chief Operating Officer, EVP-Global Banking
Rajagopal Viswanathan Chief Financial Officer & Executive Vice President
Michael Zerbs Group Head-Technology & Operations
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