Sifting through countless of stocks in the Banks industry can be tedious, and sometimes two stocks are just too similar to judge which is the better investment. If you’re on the fence about investing in NatWest Group plc or The Bank of Nova Scotia because you’re not sure how they measure up, it’s important to compare them on a few factors before making your decision.

Read on to learn how NatWest Group plc and The Bank of Nova Scotia compare based on key financial metrics to determine which better meets your investment needs.

About NatWest Group plc and The Bank of Nova Scotia

NatWest Group plc, together with its subsidiaries, provides banking and financial products and services in the United Kingdom and internationally. It operates through Retail Banking, Private Banking, Commercial & Institutional segments. The Retail Banking segment offers a range of banking products and related financial services, such as current accounts, mortgages, personal unsecured lending, and personal deposits, as well as mobile and online banking services. The Private Banking segment provides banking, lending, and wealth management products for high-net-worth individuals and their business interests. The Commercial & Institutional segment consists of customer businesses under business banking, commercial mid-market, and corporates and institutions; and offers banking operations services in the Channel Islands, Isle of Man, Gibraltar, and Luxembourg, as well as products and solutions for businesses comprising start-ups, corporates, and large institutions. The company was formerly known as The Royal Bank of Scotland Group plc and changed its name to NatWest Group plc in July 2020. NatWest Group plc was founded in 1727 and is headquartered in Edinburgh, the United Kingdom.

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments. The company offers financial advice and solutions, and banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and insurance to individuals; and retail automotive financing solutions. It also provides business banking solutions comprising lending, deposit, cash management, and trade finance solutions to small, medium, and large businesses. In addition, it provides wealth management advice and solutions, including online brokerage, mobile investment, full-service brokerage, trust, private banking, and private investment counsel services; and retail mutual funds, exchange traded funds, liquid alternatives, and institutional funds. The company was founded in 1832 and is headquartered in Toronto, Canada.

Latest Banks and NatWest Group plc, The Bank of Nova Scotia Stock News

As of December 12, 2025, NatWest Group plc had a $65.6 billion market capitalization, compared to the Banks median of $517.5 million. NatWest Group plc’s stock is up 62.2% in 2025, down 0.1% in the previous five trading days and up 57.44% in the past year.

Currently, NatWest Group plc’s price-earnings ratio is 19.0. NatWest Group plc’s trailing 12-month revenue is $20.9 billion with a 36.6% net profit margin. Year-over-year quarterly sales growth most recently was 19.8%. There are no analysts providing consensus earnings estimates for the current fiscal year. NatWest Group plc currently has a 3.1% dividend yield.

As of December 12, 2025, The Bank of Nova Scotia had a $89.9 billion market cap, putting it in the 97th percentile of all stocks. The Bank of Nova Scotia’s stock is up 35.5% in 2025, up 1.5% in the previous five trading days and up 30.34% in the past year.

Currently, The Bank of Nova Scotia’s price-earnings ratio is 18.0. The Bank of Nova Scotia’s trailing 12-month revenue is $22.6 billion with a 24.6% net profit margin. Year-over-year quarterly sales growth most recently was -1.3%. Analysts expect adjusted earnings to reach $5.837 per share for the current fiscal year. The Bank of Nova Scotia currently has a 6.0% dividend yield.

How We Compare NatWest Group plc and The Bank of Nova Scotia Stock Grades

Stock evaluation requires access to huge amounts of data and the knowledge and time to sift through it all, make sense of financial ratios, read income statements and analyze recent stock movements. AAII created A+ Investor, a robust data suite that condenses data research in an actionable and customizable way suitable for investors of all knowledge levels, to help investors streamline and work through such data.

AAII’s proprietary stock grades come with A+ Investor. These offer intuitive A‐F grades for each of five key investing factors: value, growth, momentum, earnings estimate revisions and quality. Here, we’ll take a closer look at NatWest Group plc and The Bank of Nova Scotia’s stock grades to see how they measure up against one another.

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NatWest Group plc and The Bank of Nova Scotia Stock Value Grades

Company	Ticker	Value
NatWest Group plc	NWG	C
The Bank of Nova Scotia	BNS	B

Successful stock investing involves buying low and selling high, so stock valuation is an important consideration for stock selection.

Buying stocks that are going to go up typically means buying stocks that are undervalued in the first place, although momentum investors may argue that point.

AAII’s A+ Investor Value Grade derives from a stock’s value score. The Value Score is the percentile rank of the average of the percentile ranks of the price-to-sales ratio, price-earnings ratio, enterprise-value-to-EBITDA (EV/EBITDA) ratio, shareholder yield, price-to-book-value ratio and price-to-free-cash-flow ratio. The score is variable, meaning it can consider all six ratios or, should any of the six ratios not be valid, the remaining ratios that are valid. To be assigned a Value Score, stocks must have a valid (non-null) ratio and corresponding ranking for at least two of the six valuation ratios.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are a good value and so on.

NatWest Group plc has a Value Score of 43, which is Average. The Bank of Nova Scotia has a Value Score of 67, which is Value.

The Value Stock Winner: The Bank of Nova Scotia

As you can clearly see from the Value Grade breakdown above, The Bank of Nova Scotia is considered to have better value than NatWest Group plc. For investors who focus solely on a company’s valuation, The Bank of Nova Scotia could be a good stock to add to their portfolio. However, it’s important for investors to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

NatWest Group plc and The Bank of Nova Scotia Growth Grades

Company	Ticker	Growth
NatWest Group plc	NWG	F
The Bank of Nova Scotia	BNS	D

The foundation of growth investing is seeking out stocks of companies exhibiting strong, consistent and prolonged growth that is expected to continue into the future.

In order to compute the growth score and assign it a letter grade, the percentile ranks for each of three components‐consistency of annual sales growth, five-year sales growth rankings adjusted for extreme levels, and consistency of positive annual cash from operations‐must be determined. These three rank figures are added together, and the sum is ranked against the entire stock universe to arrive at a company’s Growth Score to create an equal distribution of grades.

The companies in the bottom 20% of the stock universe receive Growth Grades of F, considered to be very weak, while those in the top 20% receive A grades, which are considered very strong.

NatWest Group plc has a Growth Score of 10, which is Very Weak. The Bank of Nova Scotia has a Growth Score of 26, which is Weak.

The Growth Stock Winner: No Clear Winner

Neither NatWest Group plc or The Bank of Nova Scotia has a high enough Growth Grade to be considered a “winner.” Investors who are considering these companies should do additional due diligence and research to see if either could be a good addition to their portfolios. It’s important to look at a wide range of financial metrics in order to determine if NatWest Group plc or The Bank of Nova Scotia is the better investment when it comes to sustainable growth.

NatWest Group plc and The Bank of Nova Scotia’s Momentum Grades

Company	Ticker	Momentum
NatWest Group plc	NWG	A
The Bank of Nova Scotia	BNS	B

Momentum grades help to uncover stocks experiencing anomalously high rates of return; research finds that stocks with high relative levels of momentum tend to outperform, whereas those with low levels of momentum tend to continue underperforming. Momentum is based on the price change of a stock over a specified period relative to all other stocks.

Typically, AAII looks at the weighted relative strength over the trailing four quarters. The weighted four-quarter relative strength rank is the relative price change for each of the past four quarters. The most recent quarterly price change is given a weight of 40% and each of the three previous quarters are given a weighting of 20%.

NatWest Group plc has a Momentum Score of 81, which is Very Strong. The Bank of Nova Scotia has a Momentum Score of 72, which is Strong.

The Momentum Grade Winner: NatWest Group plc

As you can clearly see from the Momentum Grade breakdown above, NatWest Group plc is considered to have stronger momentum compared to The Bank of Nova Scotia. For those specifically looking for companies that have stronger momentum compared to other companies in the same industry, NatWest Group plc could be a good stock to invest in. However, it’s important for investors to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

Other NatWest Group plc and The Bank of Nova Scotia Grades

In addition to Momentum, Value and Growth, A+ Investor also provides grades for Estimate Revisions and Quality.

Earnings estimate revisions scores take into account the magnitude of a company’s earnings surprise in its last two reported fiscal quarters. Often, surprises beget further surprises‐or at least continued sales growth (the exact opposite is generally true, too).

AAII’s A+ Investor Quality Grade comes from the ranking of key metrics. Specifically, the quality grade is the percentile rank of the composite of return on assets (ROA), return on invested capital (ROIC), gross profit relative to assets, buyback yield, change in total liabilities to assets, accruals, Z double prime bankruptcy risk (Z) score and F-Score.

These 2 key factors, when combined with the above, provide a holistic view into a particular stock. Further, by joining A+ Investor you can see whether NatWest Group plc and The Bank of Nova Scotia pass any of our 60+ stock screens that have outperformed the market since their creation.

So, Which Is the Better Investment, NatWest Group plc or The Bank of Nova Scotia Stock?

Overall, NatWest Group plc stock has a Value Score of 43, Growth Score of 10 and Momentum Score of 81.

The Bank of Nova Scotia stock has a Value Score of 67, Growth Score of 26 and Momentum Score of 72.

Comparing NatWest Group plc and The Bank of Nova Scotia’s grades, scores and metrics can act as a solid basis to determine whether they may be a good investment or not. You’ll also want to look at your portfolio’s asset allocation as well as your risk tolerance and financial goals to see if either of these stocks would make a good fit for you. AAII can help you figure out which investments align with your individual needs and preferences.

Investors are encouraged to do their own due diligence and research. In this way, individuals can effectively become managers of their own assets‐without having to rely on others for financial independence. You can count on AAII for timeless articles on financial planning and stock-picking, unbiased research and actionable analysis.

A+ Investor adds to our qualitative teaching with a powerful data suite to help you whittle down investment choices to find stocks, exchange-traded funds (ETFs) or mutual funds that meet your needs.

AAII Disclaimer

We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown, because past, hypothetical or simulated performance is not necessarily indicative of future results. Before making an investment decision, you should consider your circumstances and whether the information on our content is applicable to your situation. This information was prepared in good faith, and we accept no liability for any errors or omissions. The full disclaimer can be read here.