February 1, 2018 / 1:55 PM / 10 months ago

Scotiabank expects up to $6.5 billion excess capital by 2020

TORONTO, Feb 1 (Reuters) - Bank of Nova Scotia expects to generate C$7 billion to C$8 billion ($6.5 billion) of excess capital by 2020, giving it the opportunity to return capital to shareholders or make acquisitions, its chief financial officer said.

"This level of capital provides optionality to consider ongoing dividend increases, share buy-backs, organic growth opportunities and further acquisitions," Sean McGuckin said in a presentation to investors on Thursday.

$1 = 1.2317 Canadian dollars Reporting by Matt Scuffham Editing by Chizu Nomiyama

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