Investor Presentation - First Quarter, 2007
Impact of new accounting standards
Scotiabank Increase in common shareholders' equity
$ millions
Book Value
Per Share
Opening balance
-
common shareholders' equity
16,947 $17.13
Net income less dividends
596
Accumulated Other Comprehensive Income
753
Favourable foreign exchange movements
522
Other items
32
Total change
common shareholders' equity
Ending balance
-
common shareholders' equity
1,903 $1.86
18,850 $18.99
Impact of +$8 million (after tax) on income statement in Q1/07
■ Increases to certain balance sheet items:
· Securities: up $1.2 billion
· Accumulated Other Comprehensive Income: up $753 million (after tax)
9
Scotiabank
Net Income*
($ millions)
890
844
Financial Performance
Overview
1012
Q1/06
Q4/06
Q1/07
* available to common shareholders
Q1/07 vs. Q1/06 net income: up 20%
■ Total revenues up 14%
Expenses up 10%
■ Favourable credit conditions - lower provisions
for credit losses and higher interest recoveries
Q1/07 vs. Q4/06 net income: up 14%
■ Revenues up 7%
Expenses up 1%
Higher provisions for credit losses - general
allowance reversal in Q4/06
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