Risk and Performance Review

Scotiabank ...reflecting moderate market risk $ millions, February 1, 2003 to April 30, 2003 20 10 Actual P&L VaR 1 day 0 милуми -10 -20 Average 1 day VaR = $8.6 Scotiabank 31 Risk summary ■ Good credit quality in Domestic & International ▪ Scotia Capital: U.S. & European portfolios stabilizing continue to closely monitor the Power portfolio ■ Expect some decline in provisions in second half 32

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