Scotiabank Launches Mentorship Program for Women Entrepreneurs

The Scotiabank (TSE: BNS) (NYSE: BNS) Women Initiative (SWI) is launching a 12-month mentorship program for women entrepreneurs, in collaboration with The Forum.

Helping Women

The Forum, a Canadian charity and partner of The SWI, has been carefully pairing mentors with new and seasoned entrepreneurs for 20 years. Through this partnership, The Scotiabank Women Initiative is reaching and serving even more women entrepreneurs, in a more targeted way.

The Scotiabank Women Initiative Mentor Program, powered by The Forum, matches early-stage and seasoned women entrepreneurs with seasoned business leaders and entrepreneurs in one-to-one mentorship.

Mentors provide hands-on explanations of entrepreneurial practices, as well as their support and access to a community, which helps entrepreneurs grow their businesses.

Management Commentary

“One of the goals of The Scotiabank Women Initiative is to empower women entrepreneurs by providing access to mentorship,” said Sloane Muldoon, Senior Vice President, Retail Performance and Co-Chair of The Scotiabank Women Initiative.

“By strategically partnering with The Forum and pairing women entrepreneurs, we’re enabling them to share and gain first-hand insight into experienced business practice. This information exchange helps women business leaders gain the confidence and guidance needed to kickstart and grow their business.”

Wall Street’s Take

On February 23, National Bank Financial analyst Gabriel Dechaine kept a Hold rating on BNS and raised the price target to C$90 (from C$86). This implies 1.6% downside potential.

The rest of the Street is bullish on BNS with a Strong Buy consensus rating based on six Buys and two Holds. The average Bank of Nova Scotia price target of C$97.87 implies 7% upside potential to current levels.

TipRanks’ Smart Score

BNS scores a “Perfect 10” on TipRanks’ Smart Score rating system, indicating that the stock returns have strong chances to beat the overall market.

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